Many Ohio residents may be feeling the pressures of the economic recession, and some may even know persons who have been forced into bankruptcy. But bankruptcy is difficult enough without having one's business broken into and vandalized. This is what recently happened to a man in North Carolina. According to police, the businessman's art gallery was vandalized on Nov. 26. Two large flower pots were broken, the business' banner sign was torn, and the building was spray-painted. The total damage is estimated to be $1,100 and police say no arrests have been made.

The owner of the gallery was the former president of a gallery called Somerhill Gallery. He filed for individual bankruptcy around the same time Somerhill declared Chapter 7 bankruptcy. Somerhill Gallery reportedly owed artists hundreds of thousands of dollars for their work. Apparently, artists were not paid commissions for pieces sold years before by the gallery.

The man opened a new gallery after being legally absolved of his Somerhill debt through bankruptcy. After declaring personal bankruptcy last year, the man had planned to auction off 164 pieces from his art collection in December. His personal cache contains works by two artists listed as creditors in the Somerhill bankruptcy, but these assets are not part of the gallery, and thus separate from any corporate legal proceedings.

Bankruptcy can help persons struggling to meet debt obligations. Ohio residents who feel overwhelmed by debt may want to investigate the possibilities available to them under bankruptcy law. There are many ways of dealing with financial troubles. For some, bankruptcy can be a viable solution.

Source: Indy Week, "Rowand art gallery vandalized; personal art collection to be auctioned," Lisa Sorg, Nov. 30, 2011