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Many people that I have met with have asked me my opinion about debt settlement companies. The advice I offer is to be diligent and research all of the options advertised. Most importantly talk with an attorney who has experience and knowledge in handling debt issues. In my opinion, the best way to do this is in a face to face meeting.
Bloomberg news is reporting that retail stores such as clothing stores, electronic sellers, and department stores are filing for bankruptcy protection at a record place in 2017. The rise in filings is attributed to a drop in traditional walk up retail business due to online retailers. 14 retail chains have stated they will seek bankruptcy protection in the year 2017 so far whic ...
An article this past weekend in the New York Post discussed the massive amount of debt currently owed by Americans. We are headed to debt levels which may top $12.68 trillion dollars and which have not been seen since 2008 according to the Federal Reserve. The article states that the average American faces $37,000 in debt, not even including their mortgages, which could easily ...
The second bankruptcy in two years involving RadioShack has been filed by its parent company, General Wireless Operations. Approximately 1500 stores are at risk of being closed with the latest update stating 552 stores will be closed (two in Alabama are on the closure list and those locations are in Madison and Mobile). The fate of more than 1000 stores is still up in the air.
The football season officially ended with the Super Bowl last night in the first overtime game in Super Bowl history. Now the season that no one wants to come is here. Tax return season. There is one tax preparer now advertising filing your returns and getting your taxes won. An interesting catch phrase for sure, but what is most important is getting the tax return done correctly.
Feld Entertainment, who has owned Ringling Brothers circus for the last 50 years, is closing the famed circus after more than 100 years of existence. The company stated that declining ticket sales and the high cost of operating a circus of it size led to the decision. The company also saw a decrease in ticket sales after removing the elephants from the circus which was one of i ...
My family and I recently returned from a mission trip to the country of Belize. My daughter’s school has a mission’s club to which she belongs and it was a wish of hers that our entire family be part this experience. This was the third time she has made the trip to Belize, twice with her school and once on a medical missions trip with our church.
Over the previous 5 years my afternoons and evenings in the fall were spent coaching high school football. I am passionate about the game and felt the excitement build as the season approached. This past Saturday I attended the Alabama vs. Texas A&M game and the level of excitement was off the charts.
Most of us remember where we were on this day. I was vacationing at the Gulf Coast with my family and had just returned from a long bike ride. I can remember walking into the room and seeing the news coverage while my son and daughter who were 4 and 2 at the time, played in the living room floor oblivious to what was happening.
Discharge of Student Loan Debt Possible in Bankruptcy Posted on Aug 02, 2016 By Robert Reese August 2, 2016 by Robert Reese The discharge of student loan debt is possible in bankruptcy if the borrower can prove an extreme hardship. What does discharge mean? Simply that you are no longer legally liable to repay the debt.
Gawker Media Files For Bankruptcy Posted on Jun 22, 2016 By Robert Reese June 22, 2016 by Robert Reese Gawker Media, the sometimes disrespectful and contemptuous online media news and gossip blog, has filed for Chapter 11 bankruptcy. This is most likely due to the recent court judgment that former pro wrestler Hulk Hogan obtained for $140 million dollars against Gawker for ...
The Narrow Road Posted on Jun 01, 2016 By Robert Reese June 1, 2016 by Robert Reese I recently wrote a letter to my son who just graduated from high school and will be heading off to college in August for his freshman year. The theme of that letter is based on Matthew 7:13-14 wherein Jesus is speaking about the narrow way.
What If a Creditor Sends You a 1099-C Posted on Mar 29, 2016 By Robert Reese March 29, 2016 by Robert Reese This time of year my firm receives quite a few calls from current and former clients who have received a 1099-C document from a creditor. This is an IRS form that deals with debt that has been cancelled (hence the “C”) due to some event taking place during the specific tax year.
Stock Car Racer’s Sponsor Files for Bankruptcy Protection Posted on Feb 16, 2016 By Robert Reese February 16, 2016 by Robert Reese Speed week is underway in Daytona Florida this week and will culminate with the 58th running of the Daytona 500 NASCAR stock car race. The Daytona 500 is one of the preeminent stock car races on the NASCAR race schedule and arguably the most famous.
Walter Energy Gets Bankruptcy Court Approval to End Labor Agreements Posted on Jan 26, 2016 By Robert Reese January 26, 2016 by Robert Reese Many people in the Birmingham area have watched the Walter Energy case with great interest because they work for or know someone who has a connection to Walter Energy.
A five million dollar judgment would most likely be a large enough debt to send someone into bankruptcy, but not necessarily someone like Curtis Jackson, AKA 50 Cent, the rapper reportedly worth $155 million dollars. However, the bigger issue for him was owing back taxes. Most tax issues that force someone into bankruptcy are a result of more than several years of taxes owed an ...
If you have watched the A&E reality show “Duck Dynasty”, you have seen Uncle Si with his trademark plastic cup filled with sweet iced tea and jug filled with the same on standby to keep his cup filled. A Kentucky beverage company believed that using Uncle Si and the popularity of the show would make for a great marketing campaign for its sweet iced tea.
Disclosure of Your Personal Information in Bankruptcy Posted on Sep 22, 2015 By Robert Reese September 22, 2015 by Robert Reese How important is being completely forthcoming about your finances and debt when you meet with an attorney to discuss Chapter 7 bankruptcy and Chapter 13 debt consolidation? The answer is quite obvious, extremely important.
The first college football game of the 2015 season is 18 days away and for many fans, it cannot get here fast enough. According to NBC news in 2013, somewhere between $60 and $70 billion dollars is wagered on college football each year. The figure has more than likely increased with the new playoff system now in place and there are estimates that $8 billion dollars alone is bet ...
A client I met with today was behind 2 months on his car payments and very concerned about the finance company repossessing his car that is his only source of transportation. He also owed a few medical bills, child support, and credit cards. My first thought was that a chapter 13 would be a good option for him.