Blogs

This is a question that we get on a daily basis. We strongly urge and advise clients to obtain a copy of all three credit reports from the three main credit bureaus, Experian, Equifax and Transunion. You can obtain one FREE credit report each year from each credit bureau by visiting www.annualcreditreport.com or by phone at 877-322-8228. In our opinion, this is the best way to get your credit reports.

Virtually every person that comes to see us to talk about a potential bankruptcy filing asks us this question in one form or another. They may have been told by a friend that bankruptcy will ruin their credit. Another has heard that they won't be able to get new credit for 7-10 years. In short, most folks want to know how a bankruptcy filing will affect their credit.

The issue for a lot of married people considering bankruptcy is whether to file a joint case with their spouse or an individual case. You are not required to file a joint bankruptcy petition just because you are married. In most traditional marriage situations, there is a good bit of joint debt or both spouses already suffer from problem credit. A joint filing in this instance is usually the most economical household decision to make.

When a person’s job requires a security clearance issued by the federal government, they are required to submit a completed standard form (SF) 86 which is also known as the electronic personnel security questionnaire (EPSQ). Obviously, if no one has had any issues in their past, then completing this form is simple. The issue comes up and people get worried when they do have problems that have arisen in their past and they become concerned with how to address them on the security clearance form.

When it comes to purchasing real estate, there is a certain mantra: “It’s always a good investment.”

Unfortunately, though, as Arkansas coach John L. Smith learned, real estate can also be a horrible investment. In the aftermath of the housing crash, Smith was left with multiple properties in Kentucky that “went bust,” and as a result, he is reportedly planning to file for bankruptcy.

Eastman Kodak Co. filed for bankruptcy a few months ago, something the photo giant would have never seen coming in its early beginnings. Now it’s come to the time for the selling off of imaging patents, which the company’s creditors are counting on for payment.

The Great Recession, as this time has become known, has taken quite a toll on the workforce of all American citizens.  But even in the best of economic times unemployment rates rank high for people with disabilities. Times of recession tend to cause unemployment among the disabled to soar.

Oaktree Capital Management of Los Angeles has been confirmed as the new owners of the Tribune Co. of Chicago. Once the judge’s order is set in motion, the Tribune could see an end to bankruptcy proceedings by the end of this year.

While economists believe there are small signs of a recovering economy, there are currently 5 cities in our nation that would beg to differ as they’ve had to file for various forms of bankruptcy. A myriad of issues from ill-advised fiscal decisions, cash-poor budgets, to low tax receipts and high retiree obligations.

What happens to a city and it’s residents when it falls into bankruptcy?

There are record numbers of student loans out for collection in the United States. The number of graduates who are now due to start paying is rising, but a dim economy has dampened the dreams of many of the grads. Could student loans be the next financial bubble to pop in this country?