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Archive for the ‘Bankruptcy Articles’ Category

Decision in Everything But Water, LLC Requires Preference Claimants to Identify Transferees Specifically in Granting Motion to Dismiss

Posted by Nancy Prew on August 27th, 2011

Summary

In an 11 page decision signed June 30, 2011, Judge Walrath of the Delaware Bankruptcy Court granted a motion to dismiss, holding that a preference complaint must clearly identify the alleged preference transferee. Judge Walrath’s opinion is available here (the “Opinion”).  A number of decisions on motions to dismiss under Federal Rule of Civil Procedure 12(b)(6) have been released recently. If you’d like to review some of these rulings, the following blog posts provide a solid start:

Decision in Tweeter Opco Once Again Reminds Trustees of the Specificity Requirement in Pleading Preference Actions

Decision in Crucible Materials Requires Preference Claims to Contain More Than Just Recitations of the Code

Decision in DBSI Inc., Holds that the “Particularity” Requirement of F.R.C.P. 12(b)(6)

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Tags: Dismiss, Granting Motion
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20 Biggest Bankruptcies Of The Decade

Posted by Nancy Prew on August 24th, 2011

Some of the largest bankruptcies ever have occurred during this decade. With the first government bankruptcy looming over Jefferson County, AL, this will be financial decade to remember. It’s a difficult time for corporations, individuals, and for our nation’s finances. Take a look at this timeline of corporate failures, and see how much cash has been lost in flames.

Tags: Biggest Bankruptcies, Decade
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Why fear credit card debts when help is at hand?

Posted by admin on August 5th, 2011

Recession and post recessions times have arrived with a host of problems that face you and me with a mountain of debt that seems to be growing despite your efforts to control expenditure. Since it only multiplies with every credit card you possess, the risk is manifold. Annual fees, APRs’, membership fees and fines keep piling up. Reducing credit card debt is legally both easy and essential because the longer you keep it, the more it grows. There is a more simple way of paying it off within no time.

The first thing to do is get two statements in hand. The statement from your bank shows how much funds you have in hand. The other is from your credit card company which shows how much you owe them. You are also aware what your monthly income is. Then you have to take a call on what proportion of your income can go towards repayment of the debt.

The next step would be to rid yourself of some of the credit cards that you feel are not used and paying membership fees and fines are only adding to your debt woes. Debt settlement is over-rated and not very effective as the volume of debt you owe a company remains the same. R Read full post…

Tags: Credit Card Debts
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Hiring A Market Investment Financial Adviser

Posted by Nancy Prew on July 26th, 2011

Hiring the right financial advisor can be an important step towards managing your wealth better. Before hiring a financial advisor, check his credentials, references and qualifications. Besides this, also ask him the following six questions to assess whether you can benefit from his services.

What is the cost of the services offered?

The fee charged by your advisor makes up just one part of your overall costs. You also have to take into account brokerage commissions if your financial advisor will be trading in securities. A thrifty financial advisor is often the best choice. He should ideally trade to ensure that your annual portfolio maintenance costs (excluding advisor fee) are as low as possible. Additionally, compare fees of different advisors so that you get the best deal. Are your objectives the same as mine?

It is better to choose an advisor who does not work on a commission basis. An advisor working on commission basis is often tempted to suggest investments that will fetch him a large commission.

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Tags: Financial, Financial Adviser
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Student Loan Consolidation Center

Posted by Nancy Prew on July 24th, 2011

Many people these days are suffering from financial trouble. Financial obligations such as student loans become very difficult to pay. It may be caused by very high interest rate or too much monthly payment. If the borrower has two or more student loans in his hands, he could try student loans consolidation as a solution. There are lots of student loan consolidation center in the country. They offer solutions to people that have difficulty in paying their loans.

Loans are granted to students who are having a hard time getting financial support during their school days. They were supposed to pay the loans after graduation. The bank gives the student a grace period. During this time, he should find a job to be able to pay the loans. But due to the global financial crisis, jobs become very difficult to obtain. The ability to pay the loans never happens. This is a time for a loan consolidation. If the borrower has two or more student loans they are consolidated for the purpose of making the payments much easier.

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Tags: Loan, Student Loan
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Plan Your Taxes for a Better Tomorrow

Posted by Nancy Prew on July 24th, 2011

Taxes constitute a significant portion of annual expenses a family has to incur. Plan your taxes carefully to avoid shelling out large amounts of your hard earned income on deductions, which could have been avoided. These tax planning and saving tips can help you manage your taxes better:

A new graduate

A new graduate can save taxes in a number of ways. If you are relocating to a place more than 50 miles from your current location and your relocation amount hasn’t been reimbursed by your employer, you can deduct the cost incurred by you for the trip. You can also deduct travelling expenses taking into consideration 16.5 cents a mile. If you have taken an education loan, the interest paid on the loan can be deducted. Your first job

The cost you incur while looking for your first job cannot be deducted but cost incurred while changing to a new job including travel expenses, cost for printing resumes etc can be deducted from income for tax calculations. U

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Tags: Taxes, Taxes Better
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How to Make Controlled Spending Viable and Stress Free

Posted by Nancy Prew on July 23rd, 2011

Saving money for the future does not necessarily have to entail frugal living and sacrificing every single enjoyable thing you do at present. After all, you save money so that you can continue to live a good life instead of allowing your financial limitations to dictate what you can or cannot do in future.

An effective future savings plan does not require that your spending is strictly limited to essentials or unavoidable expenses. In fact, this would not be a sustainable savings plan at all and as a result not an effective one either. What is required is to control the way you spend and to make this controlled spending a habit.

Know What Your Dollar Buys for You Controlled spending entails knowing exactly where every dollar you spend is going. Many times you end up with huge bills and you don’t even use many of the items you bought. This often happens when you make a shopping trip without a list of things you need.

A list helps you stay focused on what you need so that you avoid picking up unnecessary items ‘just- in- case’ you need them. With

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Avoiding Bounced Checks with OD Line of Credits

Posted by Nancy Prew on July 22nd, 2011

If you have had to shell out precious dollars in the form of overdraft fees because the check you issued bounced at your bank, then you know the importance of having a safety net in your bank account. Most often you have funds to pay the check but they are just not in the right account or available at the time when the check is presented.

It is at times like these that the extra expense incurred in paying the overdraft fee is completely unnecessary and avoidable. An overdraft line of credit is a safety net for your bank account that ensures you avoid such charges and fees. What is an OD Line of Credit?

An overdraft line of credit is simply a credit line extended to you by your bank for a particular account. The maximum overdraft that is available to you is defined when you set up the OD line. Once you set it up, whenever a check is presented and your account does not have enough funds to cover it, the OD automatically kicks in. The check is paid and you simply have to replenish your account to keep the OD line of credit active.

Charges and Fees

Your bank may charge you an annual fee to keep the overdraft protection active and usable.

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Tags: Bounced, Bounced Checks
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