Despite signs of a slowly thawing economy, several Nevada businesses recently filed for Chapter 7 bankruptcy, a reminder that a complete recovery is still a ways off.
Both of the companies highlighted in the latest round of Nevada bankruptcy announcements are based out of the town of Henderson, located just outside of Las Vegas.
One of the companies, an investment and real estate firm known as Millenium Holding Group, filed for Chapter 7 bankruptcy after a series of failed ventures in banking and mortgages. The other, an educational company called Mobius Mathematics, filed for bankruptcy after its academic enrichment programs failed to catch on and become profitable.
Millenium Holding Group, owned by a couple, Richard and Carla Aufdenkamp Ham, was a publicly traded company that sought to find profit in real estate deals, financial products and mortgage banking.
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**Today’s guest post is contributed by LearnVest **.
Cash-back reward programs on credit cards aren’t too good to be true—in truth, they’re inspiring more debt among their users than rewards of cash.
Debt Now, Cash Soon.
A study run by three economists and mentioned in the Wall Street Journal found that among 12,000 credit card accounts, those users offered cash-back rewards not only spent more, but assumed more debt as well. From the Journal:
The extra debt could mean two things: People spent more overall or they shifted spending to their cash-back rewards card from some other card in their purse or wallet. Sumit Agarwal, one of the co-authors, says the study found both. That means that, for a lot of people, the benefit of a cash-back reward is negated by increased overall spending and debt.
A Good Credit Score Is A Sad Thing To Waste.
It’s no news that rewards programs are meant to inspire spending and funnel money to credit card companies, not simply to brighten our day. But the f
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Keeping your finances organized can help you stay on budget and keep track of your spending. It can also be a daunting task if you haven’t been organized all along. Many people plan to organize their finances, but never seem to get around to it. The idea of digging through all of the documents from previous years and sorting it neatly can be overwhelming. If you have been putting off financial organization, this is the perfect time to tackle the beast. Since you have to put your taxes together anyway, why not take a little extra time to put it all together in an organized fashion?
How Organization can Save you Money
Getting organized will do more than make your office look nicer. When you can quickly put your hands on any financial document you need, you can easily keep track of what you spend every month. Just organizing your incoming and outgoing bills can save you a ton in potential late fees. It can be satisfying to see the piles shift from what is due to what is paid as the weeks pass, too.
Filing the Paperwork
The best way to begin organizing your finances is to create a reasonable filing system.
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Fixing their credit report is one of the most stressful tasks for some individuals. Making sure that their scores are accurate and to make it useful in the future is their primary goal. To avoid having to pay for unauthorized transactions, it is important to check on the financial information provided by the credit report. Any mistakes, such as the spelling of your name, the date you sent payment or the amount you owe should be reported immediately to the credit agency and the credit card company. You have to accept that this process, although it is not your fault, make take months to repair. The credit agency may need to check previous records and may even look for proof of your claim.
But making sure your credit report is clean is not the only thing that you should focus on. To avoid future problems, you should make sure that you cover or take a look at all the parts of your credit report. Misspelled information like names and addresses may seem very basic but these mistakes can pose great danger. Always check the spelling of names or addresses whenever you need to make some changes.
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One of the tasks for the New Year would be to review the credit report that you receive annually. Not only is it free for the consumers but it also doesn’t require signing up for anything. The Congress a few years ago had passed a law which required each of the 3 credit bureaus, Equifax, Trans Union and Experian to provide the consumer with a free copy of the credit report every year. Consumers also should understand that there is just the solitary source for the annual review. They need to go to the site annualcreditreport.com and follow the instructions. This credit report is very important as it tells the consumers how their credit history is shaping up. This is critical as a bad credit history would mean that the consumer’s creditworthiness is at question and he or she has to take steps in the right direction to repair the credit history.
There are quite a few for-profit companies that claim that they will provide a free credit report. However, it isn’t easy to consider and be sure about this claim as it comes with a massive string that is attached to it. The c
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The board of directors at the Honolulu Symphony, which has brought music to the Hawaiian island of Oahu for over a century, has voted to file for Chapter 7 bankruptcy and dissolve the organization.
The decision marks the end of efforts to save all or part of the symphony organization, after having filed for Chapter 11 bankruptcy protection a year ago. The attempt, according to the Honolulu Star Advertiser, was a failure, and the bankruptcy court case was converted to a Chapter 7 bankruptcy liquidation case.
A quickly convened meeting led to the board’s decision just before a scheduled appearance in bankruptcy court concerning a request for a deadline extension for a reorganization plan. The reorganization wasn’t meant to be, however, as the board decided to disband the symphony and liquidate its remaining assets.
Bankruptcy lawyers for the symphony will soon request the conversion to a Chapter 7 bankruptcy.
Among symphony assets is a large music library. The symphony’s endowment would not be a part of the bankruptcy liquidation, according to the Star Advertiser. The e
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