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Entries Tagged as 'Bankruptcy'

Boots in Minimum Wage for Some States

February 3rd, 2012 · No Comments

Eight States which include Arizona, Colorado, Florida, Montana, Ohio, Oregon, Vermont, and Washington all raised the minimum wage to keep pace with inflation.  The increase in these States ranged between 28 and 37 cents per hour and will take affect January 1.  More than 1.4 million low-income earners will see their wages go up on [...]

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Tags: Bankruptcy

Mixed Feelings on the Current Housing Market

February 3rd, 2012 · No Comments

Some economic experts and analysts contend that there is little chance for a housing recovery.  That extremely pessimistic outlook is not based on feelings, but upon solid economic data.  The year of 2011 was a sad story for the housing market.  The market saw record low 30-year mortgage rates with few people taking advantage of [...]

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Tags: Bankruptcy

Historic Low for Mortgage Rates

January 6th, 2012 · No Comments

In the 40-year history of Freddie Mac’s Primary Mortgage Market Survey, interest rates on a 30-year fixed-rate loan is the lowest it has ever been.  Just in time for the holidays, the mortgage rate on a 30-year mortgage is now 3.94%.  Mortgage rates have been falling over the entire year, and since the beginning of [...]

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Tags: Bankruptcy

Dispute over whether Scottie Pippen filed for bankruptcy

January 3rd, 2012 · No Comments

Former Chicago Bulls star, Scottie Pippen, most notably known for his time playing alongside Michael Jordan in the Bulls six NBA championships, has filed a multimillion-dollar federal lawsuit Tuesday, December 13, 2011.  The lawsuit claims that several websites and media outlets falsely accused Scottie Pippen of filing for bankruptcy.  CNBC.com was among one of the [...]

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Tags: Bankruptcy

Sometimes Income Taxes Are Dischargeable In a Bankruptcy

December 16th, 2011 · No Comments

As a general rule taxes are nondischargeable in a bankruptcy. However, in some circumstances, income taxes can be discharged in a bankruptcy. In order for income taxes to be eligible for a discharge in a bankruptcy, the taxes must have been filed for at least two years and the taxes must have been due and [...]

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Tags: Bankruptcy

Credit card use is making a comeback

December 16th, 2011 · No Comments

Consumer spending over the last three quarters of 2011 has shown a reversion to credit card use over debit card.  Silvio Tavares, senior vice president at First Data, which processes card transactions for 4.1 million merchants, notes that “Consumers have spent the last couple of years de-leveraging and reducing credit card use, but the past [...]

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Tags: Bankruptcy · News

Student Loans may be the “Good” Kind of Debt

December 6th, 2011 · No Comments

Although most people would like to have zero debt compared to much debt, student loan debt may not be as bad as other kinds.  With low interest rates and flexible payment options, Carolyn Bigda from the Chicago Tribune contends that student loans tend to be more forgiving than other types of debt.  However, the primary [...]

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Tags: Bankruptcy

An Increase in Foreclosure Activity is a Good Thing

December 6th, 2011 · No Comments

An Increase in Foreclosure Activity is a Good Thing It is certainly a very scary time receiving a notice of default and having to go through the process of foreclosure.  There are few things worse than losing one’s home.  However, an increase in foreclosure rates may be a sign that the housing market is on [...]

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Tags: Bankruptcy

Super Committee fails to reach debt reduction package

November 29th, 2011 · No Comments

Earlier this week, the bipartisan 12-member panel, the so called “super committee,” failed to reach an agreement on the goal of $1.2 trillion in debt reduction.  The final vote originally was set for Wednesday before Thanksgiving, but because the panel did not have a blueprint of a proposed package, the super committee announced on Monday, [...]

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Tags: Bankruptcy

Consumer Spending and U.S. incomes up slightly

November 29th, 2011 · No Comments

The Commerce Department reported Wednesday that consumer expenditures rose by a nominal .1% in October, which is down slightly from a .7% increase in consumer spending that we saw in September.  Meanwhile, U.S. incomes rose a bit, up .4% in October compared to a .1% increase in September.  However, despite these lack luster figures, there [...]

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Tags: Bankruptcy