Archive | bankruptcy

What are your Rights When it Comes to Wage Garnishments?

January 02, 2019  |   Posted by :   |   bankruptcy,wage garnishment   |   0 Comments

You work hard for your money and those paychecks are all-too-important, especially when you are struggling financially. So what happens when your debts cause a wage garnishment? Do you have any rights? Let’s explore closer what a wage garnishment means to your overall financial wellbeing.   What are Wage Garnishments? A wage garnishment is when […]

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5 Questions to Ask Yourself Before Filing for Bankruptcy

December 19, 2018  |   Posted by :   |   bankruptcy,debt   |   0 Comments

If you have suffered an overwhelming financial hardship, you may be starting to weigh whether filing for bankruptcy is a viable alternative to the mounting piles of bills or the harassing creditor phone calls. Bankruptcy is a good choice for many who need a fresh start or want to consolidate their bills and be allowed […]

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Case Study – Even the Famous are not Immune from Bankruptcy – 50 Cent

December 12, 2018  |   Posted by :   |   bankruptcy   |   0 Comments

Usually, when you think of the rich and famous, you envision mansions, flashy jewelry, and a lavish lifestyle. Unfortunately, even the more famous of us are not immune to the pitfalls of credit card debt and medical bills piling up. Think of some of the famous names in the news that were, and for some, […]

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Bankruptcy and Business: Deciding on the Right Chapter to File for Bankruptcy

November 07, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business,debt,finance   |   0 Comments

Frequently in this blog, we touch on the manner in which bankruptcy impacts business.  Many big-name businesses have been facing financial difficulties or have even filed for bankruptcy in recent months, such as Sears, Gibson Brands Inc., and Andy Warhol’s Interview magazine, just to name a few. It seems scary that these businesses have been […]

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Springing Back from Bankruptcy

October 24, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business,debt,finance,recession   |   0 Comments

Many view bankruptcy as the end of the road – money runs out in business, or personal debt is impossible to manage, for example. The only way out for some is bankruptcy. But bankruptcy may actually help struggling businesses recover, and can even push business owners to increase their efforts and make their businesses not […]

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The Rate of Bankruptcy is Rising Among Older Americans

September 25, 2018  |   Posted by :   |   bankruptcy,retirement   |   0 Comments

Retirement. That’s everyone’s goal after having worked for over 40 years. But for many the elderly, this may be just a dream. Financial problems plague the older generation, from rising interest rates, to exorbitant medical costs, to crushing credit card debt along with the rising cost. On top of this, many people find their savings […]

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Everything You Need to Know about the Means Test

August 08, 2018  |   Posted by :   |   bankruptcy   |   0 Comments

In 2005, Congress decided to revise the bankruptcy code, which hadn’t been changed much during the previous 25 years. Why did they choose to revise? Congress and bankruptcy courts had become increasingly concerned that too many people were filing for bankruptcy – and their cases approved – who could actually afford to pay their debts. […]

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Losing Profit Leads to Store Closings for Sears

July 05, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

Remember the days when everyone would shop at Sears for back-to-school clothes after receiving the annual catalog in the mail? Well, the once-dominating department store is closing stores across the U.S. This is due to the company’s inability to reach sales goals, which ultimately means they’re losing profits. They currently can’t afford to keep stores […]

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Andy Warhol’s Interview Magazine – The End of an Era

June 01, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

In 1969, Interview magazine was founded. It is a publication that details arts and culture, and which was started by Andy Warhol. On Monday, May 21, 2018, employees of the magazine company publicly tweeted that the publication is filing for bankruptcy. This comes nearly 50 years after the first issue was released. Let’s take a […]

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Bankruptcy in the News – Gibson Brands, Inc. Files for Bankruptcy

May 09, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

For any musicians reading this, you may be devastated to learn that the guitar company, Gibson, recently filed for bankruptcy. But don’t worry, all may not be lost; the leading guitar company plans to stay in business by focusing solely on manufacturing and selling guitars and other instruments, while gutting its consumer electronics line of […]

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