Small Business Bankruptcy: An Overview (Part 1)
While Chapter 7 bankruptcy is often used by individuals, it can also be used for small businesses when the owners want to close the business and liquidate its assets to pay off existing debts. When a small business is overwhelmed by debt, filing for bankruptcy may be the best solution for financial recovery, and the next steps to take will depend on: The type of entity that the business is based on – specifically, whether the business is a sole proprietorship, general partnership, corporation or limited liability company (If the small business based on a sole proprietorship or [...]
An Overview of Securities Fraud (Part 2)
Securities fraud costs investors in the U.S. between $10 and $40 billion each year, according to research conducted by the Federal Trade Commission and the FBI. As a continuation of An Overview of Securities Fraud (Part 1), the following provides some more information regarding securities fraud and how it can financially devastate investors. While Part 1 of this blog focused on defining what securities fraud is and discussing some specific types of securities fraud, here in Part 2, we will concentrate on highlighting the prevalence of securities fraud and how it can force some investors into filing for [...]
An Overview of Securities Fraud (Part 1)
Securities fraud, the criminal act of lying to investors about the value of stocks or commodities, can financially devastate investors and may force them into filing for bankruptcy. Securities fraud, which may also be referred to as investment fraud or stock fraud, is the criminal practice of intentionally misrepresenting the value of stocks in an effort to entice investors to buy or sell said stocks, which, in turn, causes them to lose money. Typically, those who are victimized by securities fraud are investors who are not familiar with the stock market and/or who do not have the experience [...]
Tips on How to Budget for Back-to-School Shopping (Part 2)
Doing some research on the best deals offered by retails and buying some supplies used are ways to save money on back-to-school shopping this year. As a continuation of Tips on How to Budget for Back-to-School Shopping (Part 1), the following are some additional helpful tips on how parents can save money when doing back-to-school shopping for their child or children this year. Scope out the best deals: Many retailers have back-to-school sales on various items you may need to purchase for your child(ren) this year. Before you start shopping, do some research to see which retailer is [...]
Tips on How to Budget for Back-to-School Shopping (Part 1)
With a little planning and savvy shopping, parents can avoid spending an excessive amount of money on back-to-school items. With a new school year just around the corner, parents and students nationwide are preparing to go back to school by buying new school supplies, clothing, sporting goods, etc. While the back-to-school season can be an exciting time for many students, it can also be a stressful time, particularly for those who are worried about spending a bunch of money on back-to-school gear. Although there may be a number of things to purchase for children his back-to-school season, the [...]
How to Spot and Avoid Credit Repair Scams
For unsuspecting borrowers who may be on the brink of serious debt or have shaky finances, dealing with agencies that operate such credit repair scam can be ruinous. Although there are a number of reputable credit repair and credit counseling agencies that may be able to help you reduce your debt and improve your overall credit standing, unfortunately, there are also a number of unscrupulous agencies that can actually hurt your credit rating despite claiming that they will help you. For unsuspecting borrowers who may already be on the brink of serious debt or have shaky finances, dealing [...]
How to Build a Strong Credit History (Part 2)
Making all monthly payments on your debts and focusing on paying down your credit card debt are two things you can do to help build yourself a strong credit history. Picking up from How to Build a Strong Credit History (Part 1), here are some additional tips on what you can do to solidify a strong credit history – and a good credit score – for yourself. Do not miss any monthly payments on your outstanding debts – Missing even one monthly payment on your credit cards, student loans or any outstanding debt you have will likely appear [...]
How to Build a Strong Credit History (Part 1)
Although it takes time to build a strong credit history, the good news is that there are a number of things you can do to help solidify a strong credit history for yourself. Having a strong credit history can be paramount to having a solid financial standing, and it can be pivotal in helping you get lower interest rates when making large purchases, like when buying a house, a car, etc. Although it takes time to build a strong credit history, the good news is that there are a number of things you can do to help solidify [...]
What You Can Do to Lower Your Credit Card Debt (Part 2)
Paying more than the minimum monthly payments on your credit cards and only using them for certain purchase are ways to lower your credit card debt. Continuing from What You Can Do to Lower Your Credit Card Debt (Part 1), the following is some additional advice regarding what you can do to reduce your credit card debt and, ideally, improve your credit score and overall financial standing. Pay more than the monthly minimum payment – If you are only paying the monthly minimum payment on your credit card, you are essentially only paying off the accumulated interest on [...]
What You Can Do to Lower Your Credit Card Debt (Part 1)
If you are concerned about the amount of credit card debt you currently have, here are some things you can do to help reduce this debt and get a better hold on your finances. These days, most people rely on their credit cards to pay for their daily needs, as well as to help them make bigger purchases. While having credit cards can be extremely helpful, particularly when it comes to traveling, credit card debt can easily snowball and become unmanageable, plummeting some into serious financial trouble. What can make matters worse when it comes to credit card [...]
