Archive for August, 2009

Control your Wild Balances

Post-bankruptcy debtors who seem to be handling new debt well will soon find out that their credit limits will soar above average. This is gratifying but dangerous, says Ira Rheingold, executive director of the National Association of Consumer Advocates in Washington, D.C. She gives a heads up saying, “Keep low limits on your cards and [...]

August 31, 2009   Posted in: Bankruptcy News  No Comments

Don’t be Cheap, Tip the Same

I know we’re all pinched for money right now but that’s no excuse to skip on tips at restaurants. For those of us who aren’t in an industry that involves receiving tips, here are some basic ground rules about tipping and how to budget them into your expenses…
-Do your mental math. If you happen to [...]

August 31, 2009   Posted in: Bankruptcy News  No Comments

Kids Need Money Knowledge

It is time for parents to step up and take the lead in helping their kids learn the seven money skills. Every young adult should know these before leaving for college.
-The commitment of making reliable spending decisions: Nothing keeps a child on top of consumers than having to get by on $10 a week.
-The skill [...]

August 31, 2009   Posted in: Newsletter  No Comments

Twitter Makes The World Go Round

Twitter is changing the way small businesses and bankruptcy law firms market themselves. Now more then ever, a host of media communication companies are only using twitter to update clients and customers. These companies are flooding the web with information regarding business tools and and advice free of charge. Some software, for example, lets you automatically search [...]

August 28, 2009   Posted in: Newsletter  No Comments

Living La Vida 2009

YOU KNOW YOU ARE LIVING IN 2009 when…
1. You accidentally enter your pin on the microwave.
2. You haven’t played solitaire with real cards in years.
3. You have a list of 15 phone numbers to reach your family of 3.
4. You e-mail the person who works at the desk next to you.
5. Your reason for not [...]

August 27, 2009   Posted in: Jokes  No Comments

Finding Bankruptcy in the Bread Aisle?

At the grocery store, one of the items that remains on top is bread and families are not looking to go without. How much bread cost is being impacted by the economy as well. It turns out that a major bread market corporation filed bankruptcy recently in hopes of staging a mass reorganization that would [...]

August 27, 2009   Posted in: Bankruptcy News  No Comments

Obama Gives Bernanke a Second Term

On Tuesday President Obama declared Benjamin Bernanke’s approval to continue his position as Federal Reserve Chairman. The issue is still in progress, however if approved by Senate, Bernanke will be in position to serve his second four-year term. Here are some facts about what Bernanke  accomplished in 2007:
-Decreased the main interest rate to a near zero rating [...]

August 27, 2009   Posted in: Bankruptcy News  No Comments

No More Reader’s to Digest

Publisher of Reader’s Digest, the monthly magazine founded in 1922 as a collection of small articles said Monday, it will file for Chapter 11 protection with plans to trade a portion of its debt for ownership of the company. Reader’s Digest Association Inc., owned by the New York private equity firm Ripplewood Holdings since ‘07, [...]

August 26, 2009   Posted in: Bankruptcy News  No Comments

Bankruptcy Spoken from Old Testament

Mayer and Newton clients may be interested to know that Congress named Chapter 7 after the seven-year debt forgiveness rule which can be found in the Old Testament of the Judeo-Christian Bible. 
Version reads as follows: “At the end of every seven years thou Shalt make a release. And this is the manner of the release: Every [...]

August 25, 2009   Posted in: Bankruptcy News  No Comments

Pension Plans Depleted as Profit Shrinks

America’s renown public pension funds assisted the record $1.2 trillion that priate-equity firms increased this decade. Only small paper profits and a lot less cash to show the millions of policemen, hard working teachers and other civil servants in their retirement plans. Some of these big investors include state pensions in California, Oregon and Washington. [...]

August 25, 2009   Posted in: Bankruptcy News  No Comments