Declaring bankruptcy is not something you wake up one morning and decide to do on a whim. Sure, you can decide quickly at times what you’re going to eat or wear, but a decision as serious as bankruptcy that can greatly affect your long-term future should be well thought out. Below are some questions and ideas to ponder before plunging into the bankruptcy bowl. Have you … [Read more...]
Record Pace Bankruptcy for Retailers
As of April, ten major retailers have already filed for bankruptcy in 2017. Last year, there were 18 bankruptcy filings total, and at the current rate it will be the same this year if not more. Experts believe retailers are filing bankruptcy at this rapid pace due to the acceleration of online shopping. No retail outlet is immune to a possible fallout. Department stores, … [Read more...]
5 Tips to Rebuild Your Life After Declaring Bankruptcy
Bankruptcy can be incredibly devastating financially, as well as psychologically, and should be considered a last resort. However, if proper steps are taken, you can begin to rebuild your life once bankruptcy has been discharged by a court. Before you attempt to rebuild your life post-bankruptcy, you should identify the root cause of how the bankruptcy occurred in the first … [Read more...]
3 Steps to Take Before Considering Bankruptcy
Bankruptcy should never be taken lightly. In fact, bankruptcy is a last resort that should only be considered if there’s absolutely no other way to escape your financial situation. Bankruptcy can be a stressful, difficult and emotionally exhausting procedure that takes an experienced lawyer. For starters, your credit score will be damaged immensely, so before you file you … [Read more...]
Is Bankruptcy the Right Answer for Debt Problems?
In 2014, 936,795 people filed for bankruptcy in the United States. Surprisingly, this is a 12.5 percent drop from 2013. However, it is still four times higher than the number filed in 1980. There are times in which personal bankruptcy is necessary; however, it does not come without consequences and should be considered as a last resort. It is effective for wiping out a lot … [Read more...]
What’s the Difference Between a Ponzi Scheme and a Pyramid Scheme?
Both considered types of financial fraud, ponzi and pyramid schemes are quite different in several important areas. The main differences can be found in how the schemes are organized and how many people are involved. Ponzi schemes are built entirely from the ground up. They’re often very difficult to detect since the fraudulent individual takes great care to hide the truth … [Read more...]
