The number 2 bookstore chain in the U.S., Borders, filed for Chapter 11 bankruptcy reorganization last week and is expected to shutter nearly a third of its superstores by April. On Feb. 22, its rivaland number 1 chainBarnes & Noble suspended its dividend payments and reported missing earnings estimates.
This personal bankruptcy question was posted on the internet in January of 2011 as comments in a bankruptcy discussion: “Our children have a savings account, I am the custodian on the account. Is the account safe in bankruptcy? We try to contribute when we can, but most the money is from when they did modeling jobs, gifts etc.”
One of the gray areas that seems to be in bankruptcy law is between a parents bankruptcy and custodial accounts held for minors. From what I have researched, it appears that Trustees can take a close look at the accounts and possibly seize them under certain circumstances. A similar but more serious problem arises with judgments from creditors. If
A new report from Javelin Strategy & Research uncovers some potentially troubling numbers about the changing face of identity theft. Here’s a look at the report’s findings and some reminders about what you can do to protect yourself, your identity, and your credit.
Two cases in the news illustrate dramatically different aspects of bankruptcy protection, that is, what can be protected and what can not.
One involves a large outsourcing firm in Tennessee, its owner and his wifewho seem to have garnered at least minor celebrityor, perhaps more accurately, notoriety. Their story apparently went public in the summer of 2010, when several agencies descended on the main office of the Sommet Group. Now, their story has become their stories. Yet, both remain entwined with the finances and penalties assessed on their former high-flying company.
The other case involves, yet again, casinos and debts via markers.