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Motion For Relief Denied Due To Possible Harm To Creditors

In a recent Chapter 11 bankruptcy of a business, the debtor was challenged by a creditor who claimed that the debtor/company was illegally using their brand to do business. The debtor, who had purchased a franchise license, was sued after they allegedly violated a non-compete agreement. The creditor/ franchisor in this bankruptcy case claims that the debtor is [...]

By |2018-11-14T22:38:59+00:00May 18th, 2011|Credit and Bankruptcy|Comments Off on Motion For Relief Denied Due To Possible Harm To Creditors

Good News For Credit Card Debtors

Have you experienced a credit card interest rate hike since January 2009? If so, you could be one of millions of credit card debtors who are granted a lower interest rate in the coming months. The Federal Reserve reported that credit card interest rates rose from an average of 13.57 percent in 2008 to 14.31 [...]

By |2017-12-13T02:17:01+00:00March 31st, 2011|Credit and Bankruptcy|Comments Off on Good News For Credit Card Debtors

Four Dangers Of Debt Consolidation

Debt consolidation is a favorite amongst debtors trying to avoid bankruptcyBut there are some hidden dangers in debt consolidation that every debtor should know about: Canceling a card before you have transferred the balance to the consolidated loan can be costly. Some credit card issuers will punish debtors with fees or an increased interest rate [...]

By |2017-12-13T02:17:17+00:00February 1st, 2011|Credit and Bankruptcy|Comments Off on Four Dangers Of Debt Consolidation

We Must Act Now To Stop Prepaid Debit Card Abuse

Sen. Richard J. Durbin is on the campaign trail again, but not for his seat in Congress, the legislator has his sights on the abusive practices of the burgeoning prepaid debit card industry which is known for its tendency to charge high fees for everything from activating the prepaid debit card to checking the balance. [...]

By |2018-11-14T23:43:24+00:00January 18th, 2011|Credit and Bankruptcy|Comments Off on We Must Act Now To Stop Prepaid Debit Card Abuse

Is Debt Settlement Better For Your FICO Score Than Bankruptcy?

Your FICO Score, Debt Settlement and Bankruptcy As we have mentioned previously, many debtors prefer to go to any lengths to avoid bankruptcy, including going to debt settlement companies to settle their debt for "pennies on the dollar." But is debt settlement really better for your FICO score and credit rating?  Not really. An account [...]

By |2018-11-19T23:17:59+00:00December 18th, 2010|Credit and Bankruptcy|Comments Off on Is Debt Settlement Better For Your FICO Score Than Bankruptcy?

Are Credit Card Companies Buying Their Way Into Students’ Wallets?

Colleges, alumni associations and related groups were paid $83.5 million in 2009 under agreements with credit card companies, according to a recent Federal Reserve report. Under the credit card agreements, schools and affiliated groups were paid for each new account they generated. How many of those credit card accounts were with students? Of the agreements [...]

By |2018-11-16T22:50:38+00:00November 6th, 2010|Credit and Bankruptcy|Comments Off on Are Credit Card Companies Buying Their Way Into Students’ Wallets?

Are Owners Of An LLC Liable For Credit Card Debt In A Business Bankruptcy?

Are You Liable for Credit Card Debt In A Business Bankruptcy? When a Limited Liability Company (LLC) files Chapter 7 bankruptcy generally speaking the owners of the company are not held personally liable for debts held by the company.  An LLC, like a corporation is considered a separate business entity from the owners. But there are [...]

By |2018-11-07T21:40:41+00:00October 29th, 2010|Credit and Bankruptcy|Comments Off on Are Owners Of An LLC Liable For Credit Card Debt In A Business Bankruptcy?

Why We Should Limit The Use Of Credit Checks By Employers

Limit The Usage Of Credit Checks By Employers Over 60 percent of employers are using credit checks to screen job candidates.  But how effective are they? While some employers say that a job candidate with bad credit may be at higher risk for employee fraud and theft, the truth is that there are no definitive [...]

By |2018-11-07T22:37:36+00:00October 27th, 2010|Credit and Bankruptcy|Comments Off on Why We Should Limit The Use Of Credit Checks By Employers

Debtor Profile: When Credit Card Debt Destroys Retirement

Marti Deadwyler is a 64-year-old living with her retired husband.  Deadwyler and her husband were doing fine right before she was forced to quit her job due to family issues, and then take an early retirement because she was unable to find other work when she was ready to return to the work world.  Before [...]

By |2018-11-13T19:09:50+00:00October 3rd, 2010|Credit and Bankruptcy|Comments Off on Debtor Profile: When Credit Card Debt Destroys Retirement

Debt Strategies: Dealing With Credit Card Debt When Facing Unemployment

Handling Your Credit Card Debt During Unemployment Are you facing unemployment and have a large amount of credit card debt ? Below are a few tips on how you should tackle credit card debt when you're facing unemployment: Build up Your Emergency Fund Many debtors facing imminent unemployment use the income in the months preceding [...]

By |2018-11-07T22:28:03+00:00September 30th, 2010|Credit and Bankruptcy|Comments Off on Debt Strategies: Dealing With Credit Card Debt When Facing Unemployment