I suppose nothing should surprise us anymore. Nearly half of American parents: have admitted that they have taken money from their children’s savings accounts, and 51 per cent said they did not even feel guilty about it. Read more: http://www.dailymail.co.uk/femail/article-2320857/Almost-HALF-parents-admit-taking-money-childrens-savings–51per-cent-feel-guilty-it.html#ixzz2TmCkLgb1 Follow us: @MailOnline on Twitter | DailyMail on Facebook This is not a poll, but a study, whatever that…
Bankruptcy can happen to anyone, or any company, it seems. Oreck Vacuum the latest well known name to file for bankruptcy protection. I am trying to remember the tag line in the ads, but I remember the former owner, David Oreck, making some kind of guarantee. The 50 year old company’s Chapter 11 filing…
Yeah, that Kevin Costner, the guy who danced with the wolves. Not in bankruptcy, no, but, being sued in bankruptcy court. How can you be sued in bankruptcy court? One way, is to try to get money from a person, or company, that filed bankruptcy. Or, in this case, sue someone who has a…
“In 28 years of legal practice, I have rarely seen a consumer bankruptcy do a person any good.” so says Stephen J. Dunn of Forbes. So, it seems Mr. Dunn thinks I (picture on left) am a clown, like, say, Groucho Marx. (picture on right. Groucho was one of the great wits of all time,…
I love Detroit. Always have. And it is on the edge of filing bankruptcy. Cities cannot file Chapter 7 bankruptcy, and go out of existence. They cannot file Chapter 11 or Chapter 12 or Chapter 13 bankruptcy payment plans. They can file Chapter 9 bankruptcy, and more do every month since Stockton, California filed…
401 accounts are exempt in bankruptcy cases. That is, you can file Chapter 7 bankruptcy, and keep the money in your 401(k) account. Creditors CANNOT GET IT. What could be better than tax free savings? Why, tax free savings that creditors cannot grab. Yet, one in four American workers with a 401(k) account borrows…
We are still reeling from the foreclosure crisis that followed the pop of the real estate bubble in 2008, a crisis that bankruptcy law does not really resolve. Bankruptcy law should have been changed to allow homeowners to cram down the first mortgage to the value of the house, but, well, if I had a…
You hear about big companies, GM, the airlines, et cetera, filing Chapter 11 to re-organize while they keep operating. But small businesses, even individuals, can file Chapter 11. It cost more than other chapters, and there is a boatload of paperwork, but it gives you greater control. Unless the court appoints a trustee, which is…
Well, if you are Donald Trump, you just keep filing bankruptcy. Actually, The Donald never files, just his companies. His casinos have filed multiple times. But, those were all Chapter 11 bankruptcies, like the latest one linked to above. What about Chapter 7 bankruptcy? Is it one and done? No, it is not. …
You cannot make the payments. One day, your vehicle is gone. You check, find out a creditor took it. If you file bankruptcy, will you get it back? Hey, I hate to sound like a lawyer, but, maybe, probably, it depends. First, lets say you were behind on the car payments, so the creditor…
