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January 2014 Archives

Even financial pros need help with credit card debt

Is it possible for even a debt counselor to file for bankruptcy? Actually, the number of financial "experts" who file for bankruptcy might be higher than you think. Even though these individuals are trusted with others' financial health, they may find themselves in personal crisis because of credit cards or unexpected medical debt. One man explains that Pennsylvania debt counselors are just as vulnerable to credit card debts as other American consumers.

As unemployment drops, Chapter 13 bankruptcies could increase

Even though many experts claim that the economy is on the rebound - evidenced by lower rates of bankruptcy filing - a growing number of officials are arguing that 2014 could be a banner year for debt relief. Lower unemployment rates could actually spark new Chapter 13 bankruptcy filings this year, according to experts.

Norton Oil owner files personal Chapter 7 bankruptcy

New information out of Pennsylvania shows that the bankruptcy-related debts of the owner of Norton Oil may be much higher than initially anticipated. The man is reportedly facing some $2.3 million in unsecured debtor claims after his company suddenly closed. That amount is more than three times the initial value quoted in the first iteration of bankruptcy papers. Official reports show that the man and his wife have filed for Chapter 7 bankruptcy in connection with their company's manifold financial problems.

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