Credit Card Bankruptcy » credit card bankruptcy

Liquid Asset Partners to Conduct Complete Liquidation of Blonder Home Accents

admin — Wed, 01 Feb 2012 03:35:30 +0000

Cleveland, OH (PRWEB) January 19, 2012

Liquid Asset Partners a North American liquidation, auction and appraisal firm, has been chosen to perform the bankruptcy liquidation for Blonder Home Accents by order of the U.S. Bankruptcy Court in Cleveland, OH. Blonder Home Accents is a distributor of wall coverings and home dcor accessories headquartered in Cleveland, Ohio.

Liquid Asset Partners is now accepting bids during an orderly liquidation of Blonders inventory, warehouse equipment, office furniture, and business machines. Intellectual property is also available, including the Blonder company name, trade names, trademarks, web URLs, and customer lists.

This is a once in a lifetime opportunity for wholesalers, retailers, and discounters to purchase this amazing product, said Bill Melvin Jr., CEO, Liquid Asset Partners. Its stacked high and were open to offers. Buyers will want to hurry and take advantage of the sale of Blonders multi-million dollar inventory.

Inventory will be sold through an orderly liquidation process on a first come, first served basis, and will be awarded to the highest and/or best bidders. Interested retailers, wholesalers and discounters can access bidding information, terms of sale, and a full list of available Blonder inventory and assets at http://www.LiquidAP.com or by calling Liquid Asset Partners at 616.719.5917.

About Liquid Asset Partners LLC
Liquid Asset Partners is a North American liquidation, auction and appraisal firm that helps clients monetize and evaluate assets thru various methods. Since 1974, our management team works with Banks, Retailers, Bankruptcy Courts, Trustees, Manufacturers and Lenders. We make cash purchases or run commission based disposition sales in Retail, Industrial, Wholesale & Equipment For more information, visit http://www.LiquidAP.com or call 616.719.5917.

Liquid Asset Partners to Conduct Complete Liquidation of Blonder Home Accents is a post from: Credit Card Bankruptcy

Asset Liquidation Process Underway For Building Supply Company Post-Bankruptcy

admin — Tue, 31 Jan 2012 21:26:55 +0000

New York City (PRWEB) February 4, 2010

Newmark Knight Frank has announced that it will offer 15 surplus properties in 10 states at auction as part of a post bankruptcy liquidation plan for a major building supply company. Tranzon Integrated Property Group has been designated by Newmark Knight Frank as auctioneer to handle all of the auctions on a national basis. Properties to be offered include industrial, warehouse, commercial with retail, and land. Full due diligence materials can be found on the designated website: http://www.postbauction.com.

We have chosen the auction process as the most efficient method to market and sell this segment of the portfolio of properties in order to maximize proceeds in a timely manner, says Kenneth Zakin, senior managing director of Newmark Knight Frank, the international real estate advisory firm that also advises the seller with respect to all of its global real estate needs, in addition to this transaction. Since the process began, 15 properties have successfully been soldindividually, in mini-portfolios and by auction.

We have been able to create a lot of buzz about these vacant industrial properties from local users and investors. Some of these properties are quite unique and strategically located which makes them interesting to opportunistic buyers, adds Randall Liberman, associate director of Newmark Knight Frank.

Liquid Asset Partners to Conduct Complete Liquidation of Blonder Home Accents

Cleveland, OH (PRWEB) January 19, 2012

This is a once in...

The next set of auctions will be held February 10, 11 & 12th in Idaho and Utah, with other additional auctions taking place later in the month in California, Ohio, Michigan, North Carolina, Pennsylvania, Texas, Wisconsin and Wyoming. Immediate properties on the block include:

145 North Curtis Road, Boise, Idaho. This 34,080 +/- square-foot office/showroom/retail/warehouse and storage facility on over 3.6 acres will be auctioned Wed., Feb. 10th at 1:00 p.m. Excellent retail area with easy access to I-84 and less than five miles to Boise Airport.

64 North State Street, Preston, Idaho. This 10,227 +/- square-foot corner retail/warehouse/storage facility, and associated paved parking and loading areas on close to 1 acre, will be auctioned Fri., Feb. 12th at 10:00 a.m. Frontage on North State Street (Hwy. 91), the main north-south street through Preston. Brief drive to I-15.

955 West Alameda Drive, Pocatello, Idaho. This 34,600+/- square-foot retail/warehouse and storage building with two lumber sheds, associated paved parking and loading areas on 3.86+/- acres, will be auctioned Fri., Feb. 12th at 3:00 p.m. Bordered to the east by railroad tracks. Minutes to I-15. Four miles to Idaho State University and 10 miles to Pocatello Regional Airport.

1640 North State Street, Orem, Utah. This 32, 822+/- square-foot retail/warehouse and storage building with four lumber sheds on over 7+/- acres will be sold via a structured sale, with first round sealed bids due on Thurs. Feb. 11th. This property is situated at a signalized intersection in a busy retail corridor. 34,660 cars per day. 45 miles to Salt Lake City.

This is a buying opportunity and very indicative of a major trend in the market today, said Joshua Olshin, president of Tranzon Integrated Property Group, the auction company handling the offerings/dispositions. He adds that banks are not the only ones selling properties in what might be referred to as the current buyers market. There is an increasing number of people out there with cash looking to buy such properties and the expediency of the auction process results in a win-win for everyone.

More information can be found at the dedicated website set up for this auction at http://www.postbauction.com or by calling 888-243-3431.

About Tranzon Integrated Property Group
Tranzon Integrated Property Group, a member Company of Tranzon, L.L.C, is based in the New York metropolitan area and is a full-service auction and real estate disposition company. With over 34 offices from coast to coast, the member companies of Tranzon auctioned more than 1,000 properties last year and over the past five years, have conducted auctions in 45 states and the District of Columbia. The professionals working at Tranzon member companies specialize in providing real estate, business asset and liquidation auction and accelerated marketing services to corporations, financial institutions, trustees, individuals and estates throughout the U.S.

About Newmark Knight Frank
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 200 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $32 billion with annual revenues of over $811 million. With a combined staff of more than 6,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit http://www.newmarkkf.com.

Asset Liquidation Process Underway For Building Supply Company Post-Bankruptcy is a post from: Credit Card Bankruptcy

Post-Bankruptcy Credit Report Fraud

admin — Tue, 31 Jan 2012 21:26:47 +0000

by marsmet551

For those unfortunate enough to have gone through bankruptcy proceedings, they will find that obtaining credit can be very difficult. One of the best things you can do following bankruptcy is to work on building your credit score back up, so that future lenders don’t see you as such a high risk. However, there are right ways and wrong ways of going about doing this, and while the wrong ways may promise quick fixes, there is no such thing when it comes to credit reports and ratings, so it is important to be aware of potential scams.

Both Chapter 7 and Chapter 13 bankruptcies can stay on your credit report for up to 10 years, although it is more than likely a Chapter 13 bankruptcy will be removed 7 years after the date it is paid in full. There are numerous companies offering assistance with repairing credit reports, or even claiming to be able to remove your bankruptcy completely from your credit report.

Asset Liquidation Process Underway For Building Supply Company Post-Bankruptcy

New York City (PRWEB) February 4, 2010

We have chosen the auction process as the most efficient method to market and sell...

These type of companies should be avoided at all costs as they are more than likely undertaking highly illegal practices, a few of which are outlined below.

Post-bankruptcy credit repair companies that request payment before they provide you with any kind of assistance are breaking the law. It is more than likely that any company asking for money up front will also not be prepared to tell your your legal rights, or give you any advice on things you can do yourself without charging you for it. These type of companies are also likely to advise you not to contact any credit agencies directly to try and correct errors on your credit report (something you can do for free yourself), or even worse, may advise you to contact them and dispute absolutely everything on your credit report.

A lot of these tactics are commonly deployed by so called credit repair agencies as for many people the world of credit reports and credit agencies is something they have very little understanding of and therefore are grateful for the help of an “expert”.

Perhaps one of the worst tactics that is used, is helping clients create a new credit identity, which in turn will have it’s own credit report that is clean. This is done by applying for an employer identification number which is used in place of your social security number. This is illegal, and if you were to proceed down this route you would be not only breaking the law, but committing fraud, which could well end up with you facing a heavy fine or even jail. These type of companies are not acting in the best interests of their clients, they have realised the potential to make money out of an area where people are generally desperate for help and therefore wiling to pay for it, acting in good faith on the understanding that their credit report will be repaired and they will be able to get on with their lives.

Find More Best Credit Card Post Bankruptcy Articles

Post-Bankruptcy Credit Report Fraud is a post from: Credit Card Bankruptcy

Finding a Credit Card After Bankruptcy

admin — Sat, 14 Jan 2012 21:34:34 +0000

After bankruptcy, how do you find a good credit card? Shop around. However, don’t expect any credit cards with a normal interest rate. Expect to get one with an interest rate in the teens (ex. 18%). You should also make sure that your card has a low application fee and a low yearly fee. Because credit card companies know that people with a low credit score are desperate, they will often charge very expensive application fees. You should also watch out for credit cards, which try to cash in on “other fees”. A good way to protect yourself from such tricks is to fully read the “terms and conditions” section of the credit card offer.

If you are looking for a credit card right after bankruptcy you should know that your chances of getting an unsecured card are very slim (unsecured means that no property or collateral is tied to your card). As such, those with damaged credit need to seek secured cards, which are linked directly to a checking or savings account.

The limit on a secured card is the amount of money you have in your checking account. For example, if you deposit 0 into your checking account, that is your credit limit. If, for some reason, you can’t make the payments, the credit card company will stick their hands into your checking or savings account. However, keep in mind that some secured credit cards make your credit limit be a percentage of the deposit amount.

Where can you find some unsecured cards? If you Google “card ratings” you’ll see some sites, which offer reviews of credit cards. The first site you’ll see even has a section dedicated to people with bad credit scores.

www.youtube.com =================================== Please subscribe to our channel to receive exclusive details of our biggest & most important predictions yet. [June 25, 2011] PODCAST CONTENTS ★ Parked cars and garbage cans were set on fire, cars were tipped over, and people threw beer bottles at giant television screens following the Canucks’ 4-0 loss to the Bruins in Game 7 of the Stanley Cup finals. ★ Yields on 10-year Greek bonds neared 18 percent, the highest in the 17-nation euro area’s history, while the yield on the two-year note above 30 percent for the first time. ★ The cost to insure Greek debt climbed to a record, indicating an about 75 percent chance of default within five years.
Video Rating: 5 / 5

More Credit Card Bankruptcy Percentage Articles

Finding a Credit Card After Bankruptcy is a post from: Credit Card Bankruptcy

Freedom Debt Relief Suggests 10 Last-Minute Tricks to Tighten Holiday Budgets

admin — Fri, 13 Jan 2012 11:42:42 +0000

San Mateo, Calif. (PRWEB) December 16, 2011

Holiday shopping is in full swing these last few weeks of the year, beginning with already-increasing levels of credit card debt. Harried shoppers might be tempted to pull plastic out of their wallets and throw caution to the winds but going into debt this season can create financial pain next year, said Freedom Debt Relief (FDR) vice president Kevin Gallegos.

The U.S. Federal Reserve Bank reported last week that total consumer borrowing rose by $7.6 billion in October, with much of that debt paying for cars and college education, but some charged to credit cards. Credit card borrowing rose by 0.6 percent in September and by the same amount in October.

Consumers might be growing tired of scrimping and saving during the past two years of the recession, said Gallegos. They also might be feeling more confident, after unemployment rates fell to a three-year low in November. But it remains important to live within ones means. Carrying credit card debt is never part of a healthy financial strategy, even if it is caused by a generous spirit.

Gallegos listed the following 10 ways for consumers to control their spending so that the New Year is as happy as the holiday season.

1.Budget, budget, budget. Shoppers should understand how much they really have available to spend on the holidays before they walk into the mall or log onto the Internet, Gallegos said. Additionally, shoppers have a consistent tendency to overspend during the holidays, as evidenced by many annual holiday polls.

2.Use a list. Shoppers should plan for all gift expenditures, including gifts for teachers and party exchanges, holiday tips, and the costs of shipping packages and entertaining. Also, this years holiday spending survey by the National Retail Federation found that nearly 60 percent of shoppers planned to take advantage of sales to buy items for themselves or their families. Those expenditures were anticipated to increase those shoppers holiday spending by nearly 20 percent over what they planned to spend on gifts. Shoppers must plan for this or make it a point not to shop for themselves.

3.Re-evaluate mid-shopping season. If you have already overspent, remember you can change your mind, Gallegos said. Most stores accept returns, and many retailers offer extended return policies during the holidays. Shoppers feeling pangs of overindulgence guilt still have time to return the excess and choose more budget-savvy gifts instead.

4.Avoid store credit card temptation. Many retailers tempt shoppers with one-time discounts when they apply for a store-branded credit card. Gallegos advises using caution, however, because these cards usually come with unfashionably high interest rates. If you do not repay the balance in full, the interest charges could equal or outweigh the savings at the cash register, Gallegos warned.

5.Pay in cash. A guaranteed way to avoid credit card debt after the holidays is to pay in cash. Some retailers have revived the practice of buying on layaway, where customers purchase an item on installment payments to the store. This can be a way to ensure an items availability and avoid credit card debt.

6.Shop online, and seek out free shipping offers. Online shopping allows shoppers to compare prices, avoid pressure, and search for promotion codes or visit reliable deal sites. As a bonus, online shopping eliminates tempting in-store displays. Be wary of websites that pressure customers to impulse buy with time- or quantity-limited sales. Also keep shipping costs in mind. Consumers can watch for free shipping codes or promotions, or visit http://www.freeshippingday.com, where a plethora of online retailers will offer free shipping today (Dec. 16).

7.Save by creating homemade gifts. People can show their appreciation for others while keeping it simple (and affordable). The first step is to decide on a plan — perhaps two kinds of delicious cookies — and then spend an afternoon in the kitchen. Package cookies in attractive containers (ideally something that can have a useful second life, such as a large travel coffee mug) and hand them out to the mailman, dog walker, trash collector, etc. Other ideas are popcorn balls or mini-loaves of quick bread or cake.

8.Stay home. Spend some time sprucing up living spaces to create a comfortable, enjoyable place for fun and relaxation. Families and friends can enjoy quality time together by borrowing movies from the library, reading holiday favorite books together, renting video games, or investing in a deck of cards and a game-rule book.

9.Apply for seasonal work. During this time of year, even in a tight economy, opportunities abound for part-time work at retailers or on a freelance basis, from snow shoveling to babysitting, house sitting or pet care while others travel.

10.Get help if needed. People who have been out of work might find it hard to make ends meet, or to be able to afford gifts for children. If you are eligible for assistance, look into support from local nonprofit organizations that might be able to brighten your holidays, whether with a toy donation program, winter coat drive or by putting a holiday meal on the table, Gallegos said. Those who can afford to help in these ways will find this another way of giving and participating in the warmth of the season.

People who are financially savvy will remember that ultimately, the holidays are not about what you give and get, but about sharing the season and enjoying good times with friends and loved ones, Gallegos said.

About Freedom Debt Relief (http://www.freedomdebtrelief.com)
Freedom Debt Relief provides consumer credit advocacy, also known as debt resolution, services. Working as an independent advocate for consumers to negotiate with creditors and lower principal balances due, the company has resolved more than $1 billion in debt for nearly 100,000 clients since 2002. The company is an accredited member of the American Fair Credit Council (formerly The Association of Settlement Companies) and a platinum member of the International Association of Professional Debt Arbitrators. FDR holds the Goldline Research Preferred Provider certification for excellence among debt relief companies.

Freedom Debt Relief is a wholly owned subsidiary of Freedom Financial Network LLC (FFN). Based in San Mateo, Calif., FFN also operates an office in Tempe, Ariz. The company, with more than 500 employees, was voted one of the best places to work in the San Francisco Bay area in 2008 and 2009, and in the Phoenix area in 2008, 2009 and 2010. FFNs founders received the Northern California Ernst & Young Entrepreneur of the Year Award in 2008.

Freedom Debt Relief Suggests 10 Last-Minute Tricks to Tighten Holiday Budgets is a post from: Credit Card Bankruptcy

Free Debt Reports Produced by The Debt Counsellors

admin — Fri, 13 Jan 2012 11:36:01 +0000

(PRWEB) January 29, 2007

Debt help experts The Debt Counsellors have produced a whole range of free reports to offer information and debt advice on the many types of personal debt problems in the UK and their solutions.

The UK Debt Help Manual, The Bankruptcy Report, The IVA Report, The Debt Management Report, The Credit Card Debt Report and The Debt Counselling Report all provide invaluable information on the nature and causes of personal debt, the methods of dealing with it and the necessity of professional debt counselling.

Freedom Debt Relief Suggests 10 Last-Minute Tricks to Tighten Holiday Budgets

San Mateo, Calif. (PRWEB) December 16, 2011

The U.S. Federal Reserve Bank reported last week that total consumer borrowing rose by $7.6 billion in October, with much of that debt paying for cars and college education, but some charged...

Personal debt is a huge problem in the UK, with the total calculated at over 1.28 trillion and estimated to be increasing by 1 million every four minutes.

Under these circumstances, it is essential for consumers to arm themselves with knowledge of personal debt and how to triumph over it.

To that end, the free reports from The Debt Counsellors offer clear analysis of the various types of personal debt and debt problems, such as credit card debt and bankruptcy.

They also explore the debt solutions to these problems, explaining the pros and cons of various processes, including the Individual Voluntary Arrangement, or IVA, and debt management.

John Porter of The Debt Counsellors says: We have produced the free reports to raise awareness of UK debt problems and increase consumers' knowledge of the debt solutions available.

People worried about their personal debt can read these reports to find out what they can do about their situation and hopefully that will act as a first step to getting professional debt advice.

To view the free debt reports from The Debt Counsellors see:

http://www.debtcounsellors.co.uk/reports/index.html

Free Debt Reports Produced by The Debt Counsellors is a post from: Credit Card Bankruptcy

Credit Card Debt Bankruptcy – Tips To Avoid Bankruptcy And Settle Unsecured Debt

admin — Fri, 13 Jan 2012 11:35:55 +0000

If you are facing extreme troubles in paying back the amount to lenders and you are thinking to file for bankruptcy, then it is a humble request that don’t get panic, just calm down and think about the other possible ways that can bring reduction to your money owing amount easily. Bankruptcy is never termed as a good option because it will damages your personal and professional life. Apart from creating devastating impact on one’s life, it brings negative rating on ones credit score too. This makes you unable to take loan or financial help from any fiscal school. Although bankruptcy is s legal process but, since its side effects are too harsh, it is never termed well from both the lender and borrower’s point of view.

Debt settlement is taken as the best tip for avoiding bankruptcy. With the help of settlement, you are able to settle your liabilities in a short span of time.

Free Debt Reports Produced by The Debt Counsellors

(PRWEB) January 29, 2007

Debt help experts The Debt Counsellors have produced a whole range of free reports to offer information and debt advice on the many types of personal debt problems in the UK and their solutions.

Personal debt is a huge problem in the UK, with the total...

The settlement is a legal way for bringing reductions. The new modifications in its laws have made this method more legal and genuine. As per the new laws, the negotiation company is not liable to charge upfront fees, the company will ask for the fees only when they successfully bring eliminations in the outstanding balances. That is the reason why a large number of people are selecting this method with more confidence and courage. The settlement process actually brings both the lenders and borrowers to a stage at which both the lenders and borrowers are at benefits. In short, it is correct to say that debt settlement deals are working for the benefit of lenders and borrowers. With the help of liability adjustment facility, you are able to get 50 % reduction in your balances easily.

Filing for bankruptcy is never considered easy as it requires many legal tests and other documentation.

Therefore, it is advisable that always keep this option as the last resort. Since the process of insolvency is giving way to many problems, lenders are also now encouraging customers for debt settlement deals because they know it is the only possible way through which they can get back their money from borrowers.

If you have over ,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the following link.

Credit Card Debt Bankruptcy – Tips To Avoid Bankruptcy And Settle Unsecured Debt is a post from: Credit Card Bankruptcy

Local Bankruptcy Attorney to Help Lobby Legislature to Exempt Tax Refunds

admin — Tue, 10 Jan 2012 15:27:01 +0000

Phoenix, AZ (PRWEB) December 22, 2011

Scott Hyder Law, an Arizona attorney, is now providing specific advice and instructions on how debtors can prevent their tax refunds from being surrendered to a bankruptcy trustee.

There have been some recent efforts by local Arizona bankruptcy lawyers to lobby the State legislature to change the types of property considered exempt when a person files for bankruptcy. The Law Office of Scott W. Hyder is now providing specific advice and instructions on how debtors can prevent their tax refunds from being surrendered to a bankruptcy trustee.

Any property that a debtor owns or is entitled to at the time of filing bankruptcy becomes property of the debtor’s bankruptcy estate and is administered by the bankruptcy trustee. This includes unpaid tax refunds. Unlike many other states, Arizona does not have an exemption protecting a debtors tax refund, so it is important to confer with an Arizona bankruptcy lawyer prior to filing bankruptcy. Scott W. Hyder has been asked by a lobbying task force to be part of a committee of lawyers to consult with the Arizona legislature to enact a wildcard exemption statute to protect all or part of a tax refund.

According to local trustees here in Arizona, only that portion of a tax refund attributable to a debtors wages accrued prior to filing bankruptcy must be surrendered to the trustee. For example, if a debtor files bankruptcy on June 30, 2011, the debtor is technically entitled to approximately 50% of the 2011 tax refund as of such date because six out of twelve months would have lapsed prior to the date of filing. As a result, the trustee would collect 50% of the 2011 tax refund once the debtor receives it in 2012. If the debtor filed bankruptcy towards the end of 2011, the trustee would be entitled to receive much more. This is why Arizona bankruptcy lawyers such as Scott Hyder Law will start lobbying the legislature to enact an exemption law that could help exempt all or a portion of tax refunds.

If a debtor expects to receive a substantial tax refund next year, The Law Office of Scott W. Hyder now advise clients to delay bankruptcy until after receiving and spending it on reasonable expenses. Scott Hyder Law now gives specific, detailed instructions on how to do this legally. However, a bankruptcy delay may be unfeasible if an immediate filing is necessary to stop a pending foreclosure, repossession, garnishment or lawsuit. It is incumbent on all potential debtors to consult with a competent Arizona bankruptcy lawyer to determine the appropriate time to file bankruptcy.

About Scott Hyder Law
Scott W. Hyder is a seasoned Arizona lawyer specializing in bankruptcy law, foreclosure law, real estate law, trust & estate law and contracts. Contact Scott at 602.923.7370 or visit his website at: http://www.scotthyderlaw.com.

Local Bankruptcy Attorney to Help Lobby Legislature to Exempt Tax Refunds is a post from: Credit Card Bankruptcy

Spousal Support and Bankruptcy

admin — Tue, 10 Jan 2012 15:26:58 +0000

The dissolution of a marriage or civil union can be a very emotionally draining time for any family and may also come with serious financial consequences for the individuals involved. In some cases, individuals may be required to pay support to their spouse, children, and other dependents following divorce. In addition, there may be court and lawyer’s fees that must be paid following the legal proceedings.

Persons who go through divorce may have to assess their financial situation following their separation from their former spouse. If a person is facing serious financial struggles, he or she may consider filing for bankruptcy to relieve the burden of debt from his or her life. Although there are many types of debts that may be discharged through bankruptcy, support payments to spouses and children are not dischargeable debts.

If an individual chooses to file for bankruptcy, certain types of unsecured debts like credit card debt, certain types of loans, and other financial obligations may be discharged.

Local Bankruptcy Attorney to Help Lobby Legislature to Exempt Tax Refunds

Phoenix, AZ (PRWEB) December 22, 2011

Scott Hyder Law, an Arizona attorney, is now providing specific advice and instructions on how debtors can prevent their tax refunds from being surrendered to a bankruptcy trustee.

Any property that a debtor...

In addition, an “automatic stay” is placed on your accounts, which allows the individual to stop making payments on the debt and prevents creditors from attempting to collect on the balance owed. The court notifies the person’s creditors of the bankruptcy filing and requests that they stop collection calls and attempts to collect the debt directly with the person going through bankruptcy.

Debts that are owed for support, however, are important financial obligations that cannot be removed by bankruptcy. The court understands the importance of providing financial support for former spouses and children and does not allow the individual to escape such obligations.

In addition, many types of legal debts that the person may have incurred during the divorce proceedings may still be valid debt, such as lawyer’s fees and court costs.

Although the person may still be responsible for support-related obligations, he or she may find bankruptcy to be helpful, because it can remove other types of debt. By freeing the individual of some of the debt burden, the person may find that he or she has more money to pay for support to former spouses and children. If you are considering filing for bankruptcy, it may be helpful to consult an experienced bankruptcy attorney to discuss the specifics of your financial situation. If you would like to know more about bankruptcy and spousal support, visit the website of the Boston bankruptcy attorneys of Joshua Spirn & Associates.

More Credit Card Bankruptcy Child Support Articles

Spousal Support and Bankruptcy is a post from: Credit Card Bankruptcy

Freedom Debt Relief Quarterly Comment: New Federal Reserve, BEA Reports Show Economic Stabilization

admin — Sat, 10 Dec 2011 00:51:21 +0000

San Mateo, CA (Vocus) October 14, 2010

Unemployment levels held steady in September, consumer revolving debt decreased again in August, and personal income has edged upward for two months, leading the debt experts at Freedom Debt Relief (FDR) to cautious optimism in the companys quarterly comment on consumer debt and credit issues.

We are seeing consumer revolving debt at the lowest level since December 2005, said FDR vice president Kevin Gallegos. Along with declining overall consumer debt and slightly higher income, these trends could signal that Americans finally have an opportunity to regain control of their wallets after nearly two years of struggle.

FDR CEO Andrew Housser agreed, although he cautioned that declining consumer debt does not necessarily signal that people have become financially enlightened. As nice as it is to think declining debt balances are due to a newfound austerity, the trend has more to do with charged-off credit card balances and reduced credit limits. The net result is a decreased consumer debt burden, but it is too early to call this a sea change in consumer behavior.

Statistics from the Federal Reserve Board indicate that charge-off rates of consumer debt balances have topped 10 percent for three of the past four quarters, two to three times what they were for most of the previous two decades.

In addition, the debt burden on U.S. households is still considerable, Housser points out. About 46 percent of families — or 48.8 million households — carry credit card debt. The average household that carries credit card debt owes about $17,000. It is imperative that consumers remain steady in their careful use of credit, even as the economy improves, he stresses.

A summary of statistics from recent financial reports includes:

1.Total consumer debt continues to decline. The Federal Reserve Boards statistics reporting consumer debt for August show the total revolving and non-revolving debt burden on U.S. consumers was $2.41 trillion (excluding mortgage debt). Consumers total debt burden is 7.2 percent lower than one year ago.

2.Revolving debt is at its lowest level since 2005. Consumer revolving debt — which includes credit cards — was $822 billion in August. This continues the trend that began in October 2008, with revolving debt falling every month for 22 straight months. During that period, it has declined by a total of more than $146 billion, or nearly 15 percent.

3.Personal income increases slightly more. The Bureau of Economic Analysis reports that personal income rose 0.5 percent in August, increasing by $59 billion. Disposable personal income (DPI) increased by the same percentage. In July, personal income rose by 0.2 percent, while DPI was flat. These increases are small, but we are viewing them with cautious optimism compared to Junes revised figures, which show 0 percent personal income growth, Gallegos commented.

Personal consumption expenditures (PCE) increased 0.4 percent in both July and August, compared to flat PCE in June. People are beginning to spend again, even while they pay off debt, Housser observed. While this trend could indicate a tentative recovery for the economy, it is critical for consumers to stay on course paying down their debt.

4.Employment numbers stay steady. During September, unemployment hovered at 9.6 percent. That statistic has remained much the same for the past year.

The FDR Quarterly Comment pulls together significant statistical releases and provides quarterly comment on timely debt and credit issues that matter to consumers. To schedule an interview with Kevin Gallegos or Andrew Housser, contact Aimee Bennett at 303-843-9840 or aimee@faganbusinesscommunications.com.

About Freedom Debt Relief (http://www.freedomdebtrelief.com)
Freedom Debt Relief provides consumer debt settlement services. Working for the consumer to negotiate with creditors and lower principal balances due, the company has served more than 80,000 clients since 2002. The company is an accredited member of The Association of Settlement Companies and holds platinum member status with the International Association of Professional Debt Arbitrators. FDR holds the Goldline Research Preferred Provider certification for excellence among debt settlement companies.

Freedom Debt Relief is a wholly owned subsidiary of Freedom Financial Network, LLC (FFN). Based in San Mateo, CA, FFN also operates an office in Tempe, AZ The company, with more than 600 employees, was voted one of the best places to work in both the San Francisco Bay and Phoenix areas in 2008 and 2009.

Freedom Debt Relief Quarterly Comment: New Federal Reserve, BEA Reports Show Economic Stabilization is a post from: Credit Card Bankruptcy