Bankruptcy Blog

4 Steps to Prioritizing a Budget

May 21, 2015

Living on a budget is one of the most effective ways to know what you are spending and, consequently, keep your debt in check. However, if you’ve never put together a personal budget before, understanding how to prioritize it can be confusing if not challenging. Here’s a look at the steps you can take to…
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SkyMall Filed for Chapter 11 Bankruptcy

May 10, 2015

SkyMall LLC and its parent company, Xhibit Corp., have recently filed for Chapter 11 bankruptcy, citing increased competition from online retailers as one of the reasons for its waning popularity and profits. Another reason cited for the bankruptcy filing was the increased use of smartphones (and other devices) on flights, as more and more flights…
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Fredrick’s of Hollywood Files for Chapter 11 Bankruptcy

April 30, 2015

After nearly 70 years in business, L.A.-based Fredrick’s of Hollywood – the racy lingerie retailer famous for introducing the push-up bra – has filed for Chapter 11 bankruptcy relief. Citing issues such as expensive leases, increased competition and declines in mall traffic/storefront sales, Fredrick’s of Hollywood Group, Inc. has noted in its Chapter 11 filing…
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2014 Credit Card Debt Statistics: See How You Fare (Pt. 2)

April 20, 2015

Resuming 2014 Credit Card Debt Statistics: See How You Fare (Pt. 1), here, we will wrap up this discussion by taking a look at the amount of credit card debt the average U.S. consumer is currently carrying. More Fascinating 2014 Credit Card Debt Statistics The following statistics have been compiled based on data from the…
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2014 Credit Card Debt Statistics: See How You Fare (Pt. 1)

April 10, 2015

Credit card debt is often one of the largest sources of debt people have, and it tends to be one of the most difficult to get rid of. In fact, even if you are good about making your minimum monthly payments, it can be hard to start making real headway on the principle if you…
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7 Holiday Spending Mistakes to Avoid (Pt. 3)

November 18, 2014

Ending our three-part blog series 7 Holiday Spending Mistakes to Avoid, below we will highlight some final ways you can avoid holiday spending mistakes this (and every) year! More Holiday Spending Mistakes to Avoid Mistake 6 – Not being careful to protect yourself from identity theft while you do your holiday shopping. As holiday shoppers…
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7 Holiday Spending Mistakes to Avoid (Pt. 2)

November 14, 2014

Picking up from where 7 Holiday Spending Mistakes to Avoid (Pt. 1) left off, below we will point out some more common holiday spending mistakes to sidestep this year. Mistake 3 – Charging everything. In the frenzy to get all of your holiday shopping done, whipping out your credit cards to charge everything can seem…
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7 Holiday Spending Mistakes to Avoid (Pt. 1)

November 11, 2014

The holidays are just around the corner, which means that many people are gearing up to get their holiday shopping done. From purchasing food for holiday dinners to buying everyone special a holiday gift, the spending during the holidays can easily get out of control which can: Intensify people’s financial problems if they are already…
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FAQs about Tax Debt and Bankruptcy (Pt. 3)

November 8, 2014

Wrapping up our blog series FAQs about Tax Debt and Bankruptcy, here are some final answers to commonly asked questions about tax debt and bankruptcy. Q – What if I already have a federal IRS tax lien against me? What happens to the IRS lien if I file for bankruptcy? A – If you are…
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FAQs about Tax Debt and Bankruptcy (Pt. 2)

November 4, 2014

Resuming FAQs about Tax Debt and Bankruptcy (Pt. 1), below are some more answers to commonly asked questions about tax debt and bankruptcy cases. Q – Can the IRS stop me from being able to discharge tax debt through bankruptcy? A – Yes! Like other creditors you may have, the IRS can file specific paperwork…
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