Insolvency practitioners
Nobody wants insolvency in their business, but what we wish never happen. Insolvency can happen to anyone business. Some people think that insolvency is bankruptcy but it is wrong insolvency. Insolvency situation comes when you find yourself unable in repaying debts. Insolvency is an alarm of destruction in your company and if the insolvency problem [...]
When Creditors Come Calling After Your Bankruptcy Discharge
Whether it’s receiving a discharge under chapter 7 or chapter 13, the result is the same: you do not owe anyone, any amount, on your unsecured non-priority debts that existed prior to filing. If you listed it and you received a discharge, then you are no longer responsible or liable for that debt. Most people [...]
U.S. Senator calling for greater transparency in store layaway plans
In recognition of the fact that many Americans are struggling to make ends meet and still searching for viable debt relief options, retailers across the country have begun offering their customers the option of layaway plans during the holiday season. In general, a layaway plan allows a consumer to purchase an item without having to [...]
Bankruptcy Filings Are Down, but Chicagoans Seeking Help in Record Numbers
The New York Times reported recently that the number of people who have filed for bankruptcy protection in Chicago and throughout the country is down, but it doesn’t necessarily mean the economy is on its way to improving. In fact, experts believe that bankruptcy numbers simply indicate that lenders are being more generous with extending [...]
RMD for Roth IRA
Traditional IRA accounts need one to take distributions in order to avoid paying penalties. This is not so with Roth IRA accounts. If total of retirement plan incentive amount is below $50,000, then a forced distribution may not be necessary even for a traditional account. Usual rule for a RMD is to take a minimum [...]