Bankruptcy Chapters

If you are unemployed due to the stultifying economy, perhaps you can take some solace knowing that you are not alone. Only 18,000 new jobs were created last month, the lowest number in nine months. May’s numbers were also weak, with only about 25,000 additional jobs. The economy needs about 125,000 jobs new per month to keep up with population growth; at least twice that many new jobs are needed to bring down the unemployment rate.Tragically, unemployment, once again, rose over 9% to 9.2%, according to the U.S. Labor Department.

If you are facing piles of unpaid bills, mortgage payments, auto loans and medical bills, you owe it to yourself and your family to contact the knowledgeable lawyers from Legal Helpers. We are experienced in all aspects of Chapter 7 and Chapter 13 personal bankruptcy. Call us toll-free at 800-260-1402 today for your initial free consultation .

In an article from www.washingtonpost.com and the Associated Press, the stalled economy has stumped economists who had predicted a stronger jobs market and an overall rosier economic picture. I

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Gold prices are soaring to all time highs as confidence of investors wane over the possibility of a U.S. Default on its $14.3 trillion debt limit. The controversy has arisen because Congress and the Obama Administration are at a standstill on whether to raise the debt ceiling and cut costs to balance the annual budget. The deadline for the default comes August 4, 2011, and many fear failure to come up with a budget by that date might send the U.S. Economy into another financial tailspin.

Currently, the Feds have plenty of cash to make all payments through August 15, but fears remain strong that if the Feds fail to guarantee the national debt on time, investment ratings services might downgrade Americas AAA credit rating for the first time since 1917. Moodys Investment Service has threatened if they are forced to downgrade Americas credit rating, it will take time to restore it no matter how quick Congress moves to correct the problems.

A downgrade of the U.S. credit rating might certainly affect the world investment markets, slow down the current economic recovery in America, and create another economic crisis.

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It certainly comes as no surprise to anyone living in this country that many middle-class Americans are feeling the devastating effects of the worst recession since the Great Depression.

In a rather troublesome column by Michelle Singletary on www.washingtonpost.com, the Consumer Reports Index, which is generated monthly by the Consumer Reports National Research Center , found that over the past two years “lower-income households have been burdened with an employment environment that was shedding more jobs than it is creating, while more affluent Americans hardly experienced a decline, and have benefited from a much healthier market that appears to be adding more jobs than it is losing.”

Singletary opines that a main reason for the disparity is the inability of lower income households to afford medical insurance and prescription medicines.Ed Farrell, a director of Survey Research at the CRNRC states, “’We are seeing a tale of two very different recoveries. While things have been improving for the wealthiest Americans for some time, lower-income families still have very little to be positive about.’”

If you have insurmountable debt due to these difficult economic times, take control of your future. For experie

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Tags: Recession

Broomfield Sports and Entertainment, owned by Tim Wiens, the former manager of the Broomfield Event Center, has recently filed for Chapter 7 bankruptcy. Wiens, who was also the former chief executive of FirstTier Bank, owes the city and county of Broomfield [Colorado] over $100,000. The money owed to the city is for 2008-2009 personal property taxes from 2008 and 2009 according to Broomfield Deputy City Manager Charles Ozaki, in an article on www.dailycamera.com. The company also owes money to such taxing entities as the Jefferson County School District, City and County of Broomfield and the North Metro Fire Rescue District.

The Colorado Division of Banking closed FirstTier in January following an investigation that questionable commercial real estate loans had depleted the bank’s capital. According to bankruptcy documents, Broomfield Sports and Entertainment also listed large business trade debt for Argus Event Staffing, the Central Hockey League, Cort Furniture Rental, ESPN Radio, Premier Facility Services and Xcel Energy. Liabilities totaled $1,286,350 with assets listed as $557,212.

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Tags: Bankruptcy, Bankruptcy Filing

Hunter Tylo, an actress on the daytime CBS series The Bold and the Beautiful, has filed for Chapter 7 bankruptcy protection after a series of personal setbacks, including the drowning death of her 19-year-old son, Michael Edward Tylo II.

Tylo, who plays Dr. Taylor Hayes on the soap opera, listed her assets and liabilities as each ranging from $1 million to $10 million. However, according to Steve Green in his article on www.vegasinc.com, the actress did not include such financial information as her current salary.

The filing states that Tylo’s creditors or those with whom she is financially involved include several attorneys, home equity lender Chase, medical providers and Innovative Artists Talent and Literary Agency.

According to the article, the filing in the Nevada U.S. Bankruptcy Court followed the 2010 dismissal of a lawsuit the actress had filed in 2009 against the Horizon Family Therapy & Wellness and Shanna Downing, a social worker who worked there, claiming they were responsible for the 2007 death of her son. D

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Tags: Bankruptcy