38 Studios Files For Chapter 7 Bankruptcy Amid Concerns
On behalf of Law Offices of Mark M. Kratter, LLC on June 14, 2012
Connecticut gamers may have already heard of the financial woes experienced by the video game company 38 Studios. Now, the company has sought Chapter 7 bankruptcy protection. It's owned by former Red Sox pitcher, Curt Schilling. Several factors weigh into any decision to declare Chapter 7 bankruptcy, but the company could not find a resolution to its current financial situation and has let all of its employees go.
Ex-football Player Filing For Bankruptcy, Sues NFL For Concussion
On behalf of Law Offices of Mark M. Kratter, LLC on June 07, 2012
Filing for bankruptcy in Connecticut is a decision not easily reached for most people. However, when faced with overwhelming debts and the potential of losing everything you own, sometimes bankruptcy is the best way to find relief. Filing for bankruptcy seemed to be the best decision for Jamal Lewis, a former professional football player.
College Students And Recent Grads Should Be Wary Of Credit Cards
On behalf of Law Offices of Mark M. Kratter, LLC on May 30, 2012
Connecticut high school students may be bombarded with credit card offers before going to college, but avoiding credit card debt is a good way to get your financial future off to a good start. Making good financial decisions early is a way to help young adults avoid the trap of credit card debt and ensure they can begin their adult lives with a clean financial slate.
Rebuilding Your Credit After Bankruptcy
On behalf of Law Offices of Mark M. Kratter, LLC on May 23, 2012
Filing for bankruptcy in Connecticut is never an easy decision. While it does provide debt relief, there are potentially lasting impacts on a person's life, including a negative impact on your credit score. However, filing for bankruptcy is not the end all be all, and the truth is that people can both survive and come out of it financially stronger. There are other ways to manage debt in order to prevent a bankruptcy filing, but for many people, it is the only way to move forward and begin a clean financial slate.
'Octomom' Files For Chapter 7 Bankruptcy To Start Over
On behalf of Law Offices of Mark M. Kratter, LLC on May 17, 2012
Most Connecticut residents have probably heard of Nadya Suleman, also known as "Octomom." Suleman has 14 children but is most famous for giving birth to octuplets. Recently, her financial troubles have apparently become too much, and she has filed for Chapter 7 bankruptcy protection. She claims she has about $1 million in debt and wants to start over financially. Suleman stated that difficult decisions have led her to the decision to file for Chapter 7 bankruptcy.
Foreclosure Relief May Be In Sight With New Industry Standards
On behalf of Law Offices of Mark M. Kratter, LLC on May 09, 2012
Connecticut homeowners facing foreclosure may be interested in a recent headline about the housing crisis of 2007 and how mortgage servicers are attempting to clean up their acts. During the crisis, countless homeowners were subjected to messy processes that often resulted in serious damage, including inappropriate foreclosures Those currently facing foreclosure may now have more options, thanks to the federal government stepping in and beefing up industry standards.
Retirement Accounts Are Protected When Filing For Bankruptcy
On behalf of Law Offices of Mark M. Kratter, LLC on May 02, 2012
Due to the ebbs and flows of the economy, which still appears to be struggling, many Connecticut residents continue to have trouble paying their mortgage, credit card bills and other financial obligations. As we have discussed before on this blog, filing for bankruptcy can help a person who is deep in debt with managing that debt and ultimately gaining a solid financial footing. In that vein, readers may be interested to learn how retirement accounts are treated in bankruptcy.
Gaining Control Over Credit Card Debt
On behalf of Law Offices of Mark M. Kratter, LLC on April 26, 2012
One of the predicaments that Connecticut residents may face is that of credit card debt. Unfortunately, credit card debt can be intensely stressful due to the constant harassment of creditors. However, it is possible to gain control over the debt by taking some simple steps.
Spike In Bankruptcy May Come As Tax Refunds Are Issued
On behalf of Law Offices of Mark M. Kratter, LLC on April 19, 2012
In 2005, the U.S. bankruptcy laws were changed so as to prevent abuse of the process. That is, the change in the law was meant to prohibit those who could afford to pay their debt from filing for bankruptcy. However, one unfortunate consequence of the 2005 reforms is that it made filing for bankruptcy more expensive.
Experts Project Consumer Bankruptcies Will Continue To Drop
On behalf of Law Offices of Mark M. Kratter, LLC on April 11, 2012
Many Connecticut residents and others across the country are starting to bounce back from the effects of the Great Recession and are beginning to get their finances in order. In the last few years, many individuals filed for bankruptcy because of financial conditions out of their control. Yet, according to the latest financial information, the number of personal bankruptcy filings is expected to keep decreasing for at least the remainder of 2012.
