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September 2012 Archives

Company to reopen plant making cosmetics

Companies that look to restructure following major setbacks or debt problems often turn to bankruptcy filings and proceedings to help with debt relief or to provide the time needed to reinvent the organization. This restructuring can affect things as critical as a company's main product and business plan, resulting in a different operation than before the bankruptcy.

Designer bounces from bankruptcy to the runway

Filing for bankruptcy is a difficult undertaking for many people. In this economy, however, many families are looking for any kind of debt relief. Although the bankruptcy process may be upsetting, there is hope after a bankruptcy is discharged. Designer Betsey Johnson discovered this after celebrating her first fashion show after bankruptcy during Fashion Week.

Debt collector got it wrong, court rules

There are few things more tenacious that an unpaid student loan. The U.S. Department of Education pulls out all the stops to collect from borrowers who default on loans that it guarantees. People who file for bankruptcy often discover those loans are still hanging around when a collection agency comes knocking on the door. Discharging a student loan debt through bankruptcy is very difficult but not impossible. One collection agency told debtors it couldn't be done. The Second U.S. Circuit Court of Appeals says that's not true, and will allow a lawsuit against the collection agency to stand.