Monthly Archives: July 2017

What Is an Emergency Bankruptcy Filing and Should I Consider It?

Sometimes it is necessary to act quickly when filing for bankruptcy. This could be true if you need the protection of an automatic stay right away or if, for some other reason, you cannot wait to complete the majority of the bankruptcy forms. If this sounds like you, then you can file a bare-bones emergency bankruptcy form and file the rest later. Is It a Good Idea to File an Emergency Bankruptcy? In most circumstances, no; not if you can help it. Bankruptcy is a complicated process. It involves a lot of paperwork and for a bankruptcy to go through, you have to honestly disclose all assets, income, expenses and more. The process has strict timelines and steps that you must take in order for your bankruptcy to take effect. Because of how strict the process is, acting hastily is not always the best course of action. You need some…
Read More »

Posted in Bankruptcy | Tagged | Leave a comment

Bridal Giant Alfred Angelo Files for Bankruptcy

Recently, the dressmaker Alfred Angelo announced that it was filing for Chapter 7 bankruptcy, shutting down about 60 stores and leaving independent bridal shops with no information as to whether dresses ordered from Alfred Angelo would arrive in time for summer and fall weddings. Naturally, the uproar has been intense. What is a bride to do when her dress is floating in financial limbo thanks to the dressmaker going out of business? How to Keep Your Cool During the Alfred Angelo Bankruptcy Fiasco First things first: keep in contact with the company. If you have ordered a dress either from Alfred Angelo, contact the bankruptcy representative. That would be Margaret Smith at alfredangelo@mjstrustee.com. Send her details of your wedding date, what you ordered and how much you paid. Also include your order number, the name as it appears on your order and where you made the purchase. The company promised…
Read More »

Posted in Chapter 7 Bankruptcy | Tagged | Leave a comment

18 States Sue Betsy DeVos Over Delays in Student Loan Protections From Colleges

18 states and counting have now filed lawsuits following delays in vital protections designed to help students that were victimized by predatory student loan practices. Much controversy was made this year about the largest student loan provider, Navient, after they were sued by the Federal Government. They were found guilty of malicious misinformation, hidden fees and rate increases, and breaking promises to dismiss loans for employer-sponsored repayment plans. Student loan debt in the US currently sits at approximately $1.4 trillion, according to the Federal Reserve. This extreme debt crisis is a hot button issue in legislature right now. Barack Obama implemented a rule designed to allow victims of these unfair lending practices to have their bad student debts dismissed, but the Trump-elected Secretary of Education, Betsy DeVos, has delayed the ruling from going into effect. The Obama ruling was scheduled for July of 2017. The Obama rule highlighted “Borrower Defense…
Read More »

Posted in Personal Finance | Tagged | Leave a comment