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Holiday Shopping During Tough Financial Times

Posted on 12/7/16 2:04 PM

The winter holidays are coming up quickly, and it's time to begin preparations. If you are in a tough spot financially, and especially if you are near the brink of bankruptcy, spending tons of money on holiday shopping is the last thing you want to do.

Spending too much has the potential to quickly and easily push your budget over the edge. For this reason, it is important to plan your holiday spending very carefully and keep it simple this year.

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Tags: Budgeting, Holiday shopping

Bankruptcy and Divorce: What You Need to Know

Posted on 11/30/16 8:13 AM

People file for bankruptcy for many different reasons. Those reasons are often more complex than just being unable to make ends meet.  Usually, there is another life event that is putting stress on household finances.

Many times, financial trouble and the need for bankruptcy relief are brought on by a failing marital relationship. Or, it may be the other way around – financial issues may have led to the breakdown of the relationship.

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Tags: Bankruptcy and Divorce

Managing Thanksgiving on a Budget

Posted on 11/21/16 1:23 PM

The cost of putting Thanksgiving dinner on the table can add up fast! From picking out the perfect turkey to feed your entire family to a buffet line of sides to satisfy everyone's favorites, you may find that your budget is quickly stretched to the breaking point.

By following a few simple principles, however, you can make your Thanksgiving dinner happen on a tighter budget

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Tags: Thanksgiving Money-Savings Tips, Budget

5 Signs You Should Consider Filing for Bankruptcy

Posted on 11/16/16 2:06 PM

Filing for bankruptcy can be a scary thought. However, many report that it saved them, gave them a fresh start and relieved their stress. If you're at a crossroads and considering bankruptcy, it's important to recognize the warning signs. 

Here are 5 signs you should consider filing for bankruptcy:

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Tags: Considering Filing for Bankruptcy

Can an Employer Refuse to Hire Me if I Filed for Chapter 7 Bankruptcy?

Posted on 11/10/16 10:07 AM

Individuals who are considering filing for bankruptcy are already facing a stressful situation. The possibility that a potential employer could refuse to hire them when they file for Chapter 7 bankruptcy can understandably add to that stress.

Section 525 of the United States Bankruptcy Code and other state bankruptcy laws place limits on whether a prospective employer can discriminate against someone because of a bankruptcy, and on how that employer can use information about a person's financial situation in its hiring decisions.

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Tags: bankruptcy and employment

Does Bankruptcy Relieve Me of All My Outstanding Debts?

Posted on 10/6/16 3:14 PM

Filing for bankruptcy is not something to be taken lightly, it's intended to help those that have found themselves in financial trouble. The idea is to give an individual the opportunity to have a fresh start, thus allowing them to become financially sound once again.

As a debtor considering bankruptcy, there's no doubt you have many questions about the process and how it will affect you. One of the most common questions is: does bankruptcy relieve me of all debts? The simple answer is that no, not all of your debts will be relieved. Debt dismissal really depends upon the type of debts you have and when they were incurred.

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Tags: Debts in Bankruptcy

Am I Living Beyond My Means? — 5 Warning Signs

Posted on 9/28/16 10:01 AM

In today's overindulgent world, it can be very easy to fall in the trap of living beyond your means. ”You only live once“ and ”You deserve it“ are phrases you likely find yourself hearing on a regular basis, and with streets lined with restaurants and shops, temptation can quickly get the best of you.

After all, why wouldn't you just stop in and grab a new pair of shoes? You have a credit card, so finding money won't be a problem at all, right?

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Tags: Over spending

Can I Keep My Home and Car When I File for Bankruptcy?

Posted on 9/23/16 9:00 AM

Filing for bankruptcy is never an easy decision. For many people, however, the thing that you question most is whether or not you'll be able to keep the items that are most important to you.

Your car, for example, is your source of transportation. Without it, you won't be able to get to work, which means that you'll be digging yourself even deeper into debt. Your home is priceless--and coming up with the money for a deposit on a new residence, especially in the middle of bankruptcy proceedings, sounds impossible.

That leaves you wondering, "Can I keep my house and car when I file for bankruptcy?"

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Tags: assets in bankruptcy

8 Game Day Tips to Help You Save Money

Posted on 9/16/16 12:06 PM

With football season now in full swing, there are plenty of opportunities to get in on the fan fun. If you're on a budget, it doesn't mean you have to say on the sidelines. 

Whether you're hosting a game day party at home or tailgating at the game, following these key budget tips will help you save. You don't have to spend a fortune to have a ton of fun on game day!

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Tags: Money Saving Tips, Game Day, football season

The Company is Bankrupt, but Sports Authority Executives will still get Bonuses

Posted on 9/7/16 10:00 AM

Consumer and employee advocates cheered a ruling from U.S. Bankruptcy Judge Mary Walrath earlier this summer that blocked proposed aggregate executive bonuses of $2.85 million earlier this summer. However, the executives had argued that they deserved the bonuses for their efforts in marshaling the remaining inventory of Sports Authority in what is one of the largest bankruptcy liquidations of a retailer in U.S. bankruptcy history.

The Judge later relented and authorized the bankrupt Sports Authority to pay up to $1.5 million in bonuses to three unnamed executives. The company's 14,000 employees whose jobs have disappeared and its creditors who are left with pennies on their Sports Authority debt are undoubtedly not pleased with this ruling. It does, however, reflect the difficulty and complexity of shutting down the operations of a once-thriving entity.

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Tags: Bankruptcy News

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