Firefly’s Fails – Files for Bankruptcy
Posted on April 21st, 2011
After a successful ten-year run, the Massachusetts chain of BBQ restaurants, Firefly’s Bodacious Bar-B-Que & Beyond, has filed for Chapter 7 Bankruptcy. Owner Steve Uliss told Sean McFadden of The Boston Business Journal (www.bizjournals.com), in 2009 that “the recession was making things tough in the business.”The restaurant, which had three locations – Marlborough, Framingham and Quincy – focused on foods with a southern flair, barbecue ribs, fried chicken and red velvet cake, paired with a casual and affordable dining atmosphere. Uliss reported revenue of $6.8 million in 2007 and $7.7 million in 2008 with goals to hit $8 million in 2009. Despite Uliss’s efforts to reduce overhead and increase special promotions and restaurant-related businesses, the recent economic downturn squashed Firefly’s as it has so many other dining and retail establishments. According to t Read more…
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Credit Help
Posted on April 21st, 2011
I have been in the credit field close to twenty years now and am very passionate about credit, bad and good. There is no cookie cutter approach for everyone. We take a no nonsense approach with the creditors and the credit bureaus as advocates for our clients. Our company can help you resolve your credit related issues resulting in better credit score ratings and attaining financial freedom.
We want to enable everyone to pursue life as it is meant to be. People face challenges in life and it is my hope that all goes well for you in your endeavors as you begin the process to help yourself attain and retain your dreams of home ownership. I hope that we are able to assist you in your credit related issues and help you attain your goals.
Our company is dedicated to assisting clients in understanding credit and how it affects them and protecting clients by working to eliminate derogatory credit information due to divorce, lawsuits, late payment history, tax liens, deferred student loans, charge off, and collections, short sold properties, foreclosed homes and bankruptcy. Ta
Tags: Credit, Credit Help
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Will Filing Bankruptcy Hurt My Immigration Status?
Posted on April 20th, 2011
As I recently wrote, you don’t have to be a U.S. citizen to file bankruptcy in the United States.
Just like many U.S. citizens, there are many non-citizens living legally in the United States who are drowning in debt and contemplating filing bankruptcy. One big difference between the two groups is that many of the non-citizens worry that filing bankruptcy could hurt their immigration status.
The good news for non-citizens is that filing a bankruptcy generally will not affect immigration status or citizenship applications. Immigration papers do not ask if you have every filed bankruptcy and bankruptcy documents do not ask about your citizenship or immigration status.
The things that may negatively impact immigration status are criminal activity and other evidence of negative moral character.
It’s not a crime to file bankruptcy. In
Credit Repair Scams: Caution Ahead
Posted on April 18th, 2011
If you have made some mistakes with credit and you find yourself with an unfortunate credit report or a low credit score, it IS possible to get back on track with some time and effort. (Click here for smart tips on boosting your own credit.)
But in some extreme situations, getting help from a qualified credit counseling agency is the way to go. In fact, I did just that when I was struggling to make loan payments after college. And it helped. If you do seek credit help, beware of bogus agencies. Here are some taglines, compliments of the Federal Trade Commission, to watch out for:
“Credit problems? No problem!” “We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!” “We can erase your bad credit — 100% guaranteed.” “Create a new credit identity — legally.”
If an agency is touting a claim like these, its probably a scam. Other red flags: th
Tags: Credit, Financial Help
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Do I Have To Be A United States Citizen To File Bankruptcy?
Posted on April 15th, 2011
No. Surprisingly, a person doesn’t have to be a citizen of the United States to file a bankruptcy case under the U.S. Bankruptcy Code.
Bankruptcy is available to anyone who either lives or owns property in the United States.
The Bankruptcy Code states that “Notwithstanding any other provision of this section, only a person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor under this title.” 11 U.S.C. Section 109(a).
There is no requirement of citizenship in the Bankruptcy Code.
A person who lives in the Unites States, whether a citizen or not, must have established residency in the state or territory where he plans to file bankruptcy. A per
Tags: Bankruptcy, United States
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How to make debt relief freedom closer
Posted on April 11th, 2011
If you have to struggle with debt asking for help may be very important. If you are having difficulty repaying your debts and reduce spending to the bone bare, consider asking your creditors for reducing the amount. You can very well explain that you have a problem and ask you if your rate may be reduced or if you can spend a type of payment plan longer. You can consult with credit card settlement professionals who are qualified for negotiating with your creditors.
Try to make more money. You can reduce your expenses to date, especially if you still want to eat and put gas in the car! However, cutting costs added to an influx of income can help you solve your debt problems faster. Ask for overtime work or try self employment!
It is an argument to say that rather than saving each month, it is better to pay as much as you can to your creditors so they can be reimbursed as soon as possible. Read more…
Trucking Company Owner Files Chapter 7
Posted on April 11th, 2011
One of the nation’s largest cattle brokerages, Eastern Livestock of New Albany, Indiana, abruptly collapsed in November 2010 and has filed for Chapter 11 bankruptcy protection; company principal owner Thomas P. Gibson has also filed for Chapter 7 personal bankruptcy. Affiliate company East-West Trucking has also filed a Chapter 7 bankruptcy petition. Gibson lists interests in some 17 companies in his bankruptcy filing.According to Clarissa Kell-Holland in an article on www.landline.mag.com (The Business Magazine for Professional Truckers), Eastern Livestock and East-West Trucking allegedly sent more than $130 million in worthless checks to over 740 cattle sellers and truckers who haul the bovines. In the article, Eastern Livestock bankruptcy trustee James Knauer states that investigators had traced “phony sales which were used to prop up the cash flow” back to 2008, although not on the “same scale as in later years.” In 2010, the company reported inflated sales of $3.9 billion, triple the number it listed in sales in 2009. According to court documents, Eastern Livestock’s bank, the Fifth Third Bank of Cincinnati, averred that the cattle brokerage’s finances started unraveling on November 1, 2010. During the same Read more…
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