Chrysler Bankruptcy :: Trends in Corporate Bankruptcy up or down?

If you listened to the news several weeks ago, you probably heard that General Motors had paid off all that had been loaned to them by the federal government. Unfortunately for Chrysler, they have not share the same fortunate fate... not that it's all rainbows and unicorns at GM, by any means.

According to the Wall Street Journal's August 13 article about the Chrysler bankruptcy, what Chrysler owes just to the bankruptcy attorneys are in the neighborhood of $85 million... quite a sum for Chapter 11 bankruptcy help.

With regard to the primary bankruptcy law firm handling the Chrysler case, Eric Morath of the WSJ writes, "Jones Day charged an average of $500 per hour for the work done during the first four months of this year."

But Jones Day was not the only firm working on the Chrysler chapter 11 bankruptcy -- as one can imagine, a bankruptcy of this magnitude requires droved of law teams and their respective staff members.

Morath adds, "Nortel Networks, a company about a quarter the size of Chrysler when it filed for Chapter 11 in January 2009, has paid its attorneys and advisers $76 million in fees through the first 18 months of the case, according to Am Law Daily."

So it seems that while Chrysler tries to get out of the woods with their bankruptcy, the proceedings may be more than just a minor financial blow.

So the question remains: with some larger companies trudging up the bankruptcy hill with some level of success, others have larger mountains to climb. No one can really say with any level of accuracy what the real trends in corporate bankruptcy will look like over the next 12 to 24 months... at least.

Is Celebrity Bankruptcy a Passing Trend or Reflection of Where We All Are?

Khloe Kardashian. Michael Vick. Donald Trump. Teresa Giudice.

These are just a few of the names of celebrities who have either filed for bankruptcy or who are facing financial difficulty. It seems as though Bankruptcy is more a trend for everyone, not just those who are "everyday folks."

Bankruptcy is a helpful tool for anyone -- anyone -- who needs debt relief, not just those of us who have experienced what could be perceived as minor difficulties.

With an entire nation under financial duress, Tom McAvity can tell you that debt relief and filing for bankruptcy is a good option for many people, famous or not.

If you need financial help and debt relief, contact Tom McAvity for help with bankruptcy in Vancouver, Washington, Portland or Salem, Oregon. Just call 503-860-6868.

Payday Loan Debt and Bankruptcy

Most people know that payday loans can be a very slippery slope, yet many may not have any other choices -- it's a matter of pick your poison. For this reason, when people get behind or have put their cars or other assets up as collateral, a bad financial situation can become exponentially worse.

If you've gotten in over your head with payday loans or other high interest rate loans, you may have to file bankruptcy, and that may be the best decision you make for your financial future.

If you have decided that the kind of debt relief that Chapter 7 or Chapter 13 bankruptcy can offer you might be your best bet, you'll need to talk with a knowledgable bankruptcy attorney like Tom McAvity who can help you sort things out.

It may be that bankruptcy is not the best fit for you -- it could be that there are better debt relief options for your circumstances. In any case, getting the advice of a financial professional will be your best bet.

Is technology having an impact on celebrity bankruptcy?

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!

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.