In recent news, PHILO, an application to watch "buzzworthy tv" for the new iPhone, announced that they would donate a small percentage of their proceeds to a new "charity" to help save New Jersey Housewife Teresa Giudice and her husband from losing so much during their bankruptcy proceedings.
Will this type of technology soon be the new way to sponsor celebrities in financial trouble? If you think about it, it's sort of the way to have a celebrity spokesperson during an economic downturn. What's more, real and everyday people can relate to bankruptcy, because so many millions are experiencing it. What if an honorable organization were to put together a fund to help Michael Vick raise funds? Would this lend credibility to his new image of trying to be a better person? How about Chanel pulling some strings to help Khloe Kardashian with her nearly $20,000 debt to the IRS? Would it boost Chanel sales, making it a smart business and marketing move on their part?
Interesting food for thought in the world of celebrity bankruptcy!
Saturday, August 7, 2010
Tuesday, August 3, 2010
Women and Bankruptcy :: The Numbers are Rising
New statistics are showing that women in particular are struggling with bankruptcy at historic rates. According to The Independent of Britain, women are filing at a rate 28 percent higher than just one year ago. Is there any reason for this disparity between the sexes, or is it just a coincidence?
The issue of the day for women seems to be credit card debt. Many are getting in over their heads, paying the minimum monthly payments, or stopping paying all together when they see that the high interest rates are keeping their balance from dropping at all. Very young women, such as those in college or recently graduated (or college age) find themselves in serious debt.
The Independent notes that women between the ages of 25 to 44 represent approximately 66 percent of all bankruptcies for women. Some experts suggest that the reason for such credit card debt in this age group may have something to do with "role models" who live lavish lifestyles, giving off a high profile image with which no price tag is attached.
Unfortunately credit card companies are not likely to help a young consumer -- in fact, within one or two late payments, APRs can rise to tremendous rates -- 29.99 percent and higher, making it near impossible to ever wipe out credit card debt without some sort of debt relief.
Those who need help from a Vancouver, Washington bankruptcy attorney can call Tom McAvity at 360.828.0110 for a free consultation to begin on the road to financial recovery.
The issue of the day for women seems to be credit card debt. Many are getting in over their heads, paying the minimum monthly payments, or stopping paying all together when they see that the high interest rates are keeping their balance from dropping at all. Very young women, such as those in college or recently graduated (or college age) find themselves in serious debt.
The Independent notes that women between the ages of 25 to 44 represent approximately 66 percent of all bankruptcies for women. Some experts suggest that the reason for such credit card debt in this age group may have something to do with "role models" who live lavish lifestyles, giving off a high profile image with which no price tag is attached.
Unfortunately credit card companies are not likely to help a young consumer -- in fact, within one or two late payments, APRs can rise to tremendous rates -- 29.99 percent and higher, making it near impossible to ever wipe out credit card debt without some sort of debt relief.
Those who need help from a Vancouver, Washington bankruptcy attorney can call Tom McAvity at 360.828.0110 for a free consultation to begin on the road to financial recovery.
Thursday, July 29, 2010
Bankruptcy and Clearing Debt
Many people who are facing serious financial strain will need to file for bankruptcy. Filing Chapter 13 or Chapter 7 bankruptcy can offer a tremendous amount of relief, but when it comes to paying debt back to creditors on a payment plan set up by the bankruptcy court, it's always in the best interest of everyone to come completely clean.
For some this may be difficult to face as certain assets don't just represent a monetary value -- there may be an emotional attachment to certain assets, many priceless memories of a life lived in a home that must now be used to pay off debt.
If we look at the most recent headlines we see that hiding assets is a very bad idea, and that in most cases, people who take part in this activity will be caught. Take the case of Teresa and Joe Giudice -- now in the headlines for hiding assets from the trustee of their bankruptcy, John Sywilok. Now the couple will face investigation for the accusations and their whole lives will be under a microscope.
The best thing to do is tell your bankruptcy attorney exactly what is going on so he can give very precise details to the bankruptcy court and your bankruptcy trustee. In the end you will be much better off, and debts will be paid off more easily.
Contact your Vancouver bankruptcy attorney today to begin the debt relief process.
For some this may be difficult to face as certain assets don't just represent a monetary value -- there may be an emotional attachment to certain assets, many priceless memories of a life lived in a home that must now be used to pay off debt.
If we look at the most recent headlines we see that hiding assets is a very bad idea, and that in most cases, people who take part in this activity will be caught. Take the case of Teresa and Joe Giudice -- now in the headlines for hiding assets from the trustee of their bankruptcy, John Sywilok. Now the couple will face investigation for the accusations and their whole lives will be under a microscope.
The best thing to do is tell your bankruptcy attorney exactly what is going on so he can give very precise details to the bankruptcy court and your bankruptcy trustee. In the end you will be much better off, and debts will be paid off more easily.
Contact your Vancouver bankruptcy attorney today to begin the debt relief process.
Sunday, July 25, 2010
Green Tangerine, Naked City's owner Carrie Follis files personal bankruptcy
Can a personal bankruptcy have an impact on a business owned by the individiual filing for personal bankruptcy? In the bankruptcy case of Carrie Follis the answer is yes. Follis, the owner of Naked City magazine recently filed for Chapter 7 bankruptcy. According to BizJournals, Follis was awarded a debtor discharge as of July 23, 2010.
But that may not be all for Follis. The Green Tangerine Publishing, LLC owner may have business assets on the line according to the trustee of her personal bankruptcy filing. Many consumers with small to medium-sized businesses would ask if this is a common scenario. It can be, but most of the time business assets are protected if there is a clear line between personal and business assets. Many business owners will protect their personal assets by putting them in a number of kinds of trusts, while others take their chances, feeling safe that personal bankruptcy will not have an impact on their business if it is an LLC or corportation.
But as we can see here, Follis has an LLC and the personal bankruptcy filing now on her record could mean the loss of assets to her company.
If you're looking for debt relief but don't know if filing for bankruptcy will affect your business, call Tom McAvity at Northwest Debt Relief Law Firm today to find out with a free consultation at 1-360-828-0110.
But that may not be all for Follis. The Green Tangerine Publishing, LLC owner may have business assets on the line according to the trustee of her personal bankruptcy filing. Many consumers with small to medium-sized businesses would ask if this is a common scenario. It can be, but most of the time business assets are protected if there is a clear line between personal and business assets. Many business owners will protect their personal assets by putting them in a number of kinds of trusts, while others take their chances, feeling safe that personal bankruptcy will not have an impact on their business if it is an LLC or corportation.
But as we can see here, Follis has an LLC and the personal bankruptcy filing now on her record could mean the loss of assets to her company.
If you're looking for debt relief but don't know if filing for bankruptcy will affect your business, call Tom McAvity at Northwest Debt Relief Law Firm today to find out with a free consultation at 1-360-828-0110.
Thursday, July 22, 2010
Rangers Bankruptcy | is it keeping them from signing free agents?
According to a recent article in BizJournal the bankruptcy filing of the Rangers Major League Baseball club is having difficulty signing both new free agents and international ball players who previously may have signed with the team undaunted. Nolan Ryan, the president of the Rangers ball club was the first to admit the bankruptcy's long reaching and heavy hitting aftershocks. Could this push the Rangers into further financial issues? After all, if the team can't win games because they are not competitive it will obviously eventually cost them endorsements and commercial sponsors.
Tom McAvity and other lawyers around the country know that filing for personal bankruptcy is a good choice for individuals who are in insurmountable debt caused caused by an upside-down mortgage, medical bills, and credit card bills. But what can bankruptcy mean for big business? As we have seen with the Rangers, the effects can be serious, and perhaps baseball is a good metaphor for what can happen with other large businesses with a great deal to lose financially.
Consumers should understand that personal bankruptcy and corporate bankruptcy are very different. For those seeking debt relief in Vancouver or Portland, Tom McAvity can help you with a free consultation. Are you ready to hear about your options in bankruptcy? Simply dial 1-866-601-1918 to set an appointment with Tom McAvity today.
Tom McAvity and other lawyers around the country know that filing for personal bankruptcy is a good choice for individuals who are in insurmountable debt caused caused by an upside-down mortgage, medical bills, and credit card bills. But what can bankruptcy mean for big business? As we have seen with the Rangers, the effects can be serious, and perhaps baseball is a good metaphor for what can happen with other large businesses with a great deal to lose financially.
Consumers should understand that personal bankruptcy and corporate bankruptcy are very different. For those seeking debt relief in Vancouver or Portland, Tom McAvity can help you with a free consultation. Are you ready to hear about your options in bankruptcy? Simply dial 1-866-601-1918 to set an appointment with Tom McAvity today.
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