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July 2013 Archives

Some things to know about taxes and bankruptcy

One of the key aspects to a Chapter 7 bankruptcy filing is the discharging of certain debts the filer owes. These debts are placed into two groups: secured and unsecured. The former group consists of debt that can't be discharged through bankruptcy, which are things like child support payments, student debt, most financial aspects related to a crime and certain taxes; while the latter group consists of debt that is dischargeable in bankruptcy (and it usually consists of credit card debt and medical debt).

Hostess, Twinkies make triumphant return after Chapter 11 filing

When Hostess, one of the most famed manufacturers of baked goods in the U.S., filed for Chapter 11 bankruptcy in 2012, many people in New York and, really, all across the country feared that the company's iconic treat -- the Twinkie -- would disappear forever. Given that Twinkies had long been the source of jokes that made the cake sound like an indestructible and nonperishable item, this seemed impossible. Twinkies were not literally indestructible, of course; but Twinkies did have a 26-day shelf life under the old Hostess Brand company.

Math skills, or lack thereof, play huge role in foreclosure

Foreclosure can devastate a family, leaving them without a home and in a desperate financial situation. How people get into such an unfortunate situation varies from person to person. Some Garnerville residents may have had to deal with foreclosure -- and according to a new study, foreclosure can be an indictment of a person's math skills.

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