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December 2013 Archives

Loehmann's filing for bankruptcy for third and final time

Dealing with financial troubles is not easy on anyone. This is especially true for those who run a business. Competition is high for those going against major companies such as retailers. Keeping up with trends and keeping a constant cash flow can be difficult during tough economical times. When a company is struggling to make ends meet, it might mean it's time to go through business debt negotiations or file for business bankruptcy.

Supreme Court to hear bankruptcy case involving inherited IRA

In the past, courts have handed down conflicting rulings on whether or not inherited individual retirement accounts are exempt from bankruptcy proceedings. Historically, the question of protecting inherited IRAs from creditors has not often arisen, but the question is likely to come up more often now that more baby boomers are leaving their IRAs to loved ones.

Survey: Only 47 percent of consumers understand their credit cards

It's common that when people enter early adulthood, they start receiving an overload of credit card offers. With an array of new financial possibilities before them, people might even open numerous accounts and start using them for a variety reasons.

Fresh college graduates hold record levels of student loan debt

For many young people, being accepted into college is a major accomplishment. As soon as the acceptance letter comes in the mail, however, there is likely a question of how to fund the education. Oftentimes, this involves government-backed or private student loans.

Will your inheritance be included in your Chapter 13 bankruptcy?

One thing people considering personal bankruptcy should understand is that the Bankruptcy Code defines a debtor's estate according to the specific kind of bankruptcy chapter that has been filed. In other words, a filer's estate has to meet certain criteria to qualify either for Chapter 13 (debt reorganization) or for Chapter 7 (asset liquidation).

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