Young adults have been hit plenty hard by the recession. A recent study by Western Union Survey reveals that almost one in five members of Generation Y have lost their job.
The numbers paint a tough picture for a segment of the population still early in their working lives:
17 percent lost their primary jobs during the [...]
Oregon Man Pleads Guilty to Bankruptcy Fraud, Hiding Gold
An Oregon man will face a possible five years in jail and a $250,000 fine after pleading guilty to two counts of bankruptcy fraud, according to the Columbian.
Donovan Lindhorst of Gresham, Oregon, was forced to file involuntary bankruptcy in 2007 after he didn’t make the necessary payments [...]
The Wall Street Journal reports this week that Americans owe some $826.5 billion in revolving credit, most of which is credit card debt.
But if that number seems high, brace yourself, because student loan debt has passed credit card debt.
Americans owe $829.785 billion in student loans.
At a time when both tuition and unemployment are at an [...]
American Apparel, the chain of clothing stores favored by young folks across the country, has announced that it could be facing serious financial trouble in the near future.
The company announced that it may lack the liquidity that it’ll take to sustain itself over the next year, according to the Associated Press. The statement from the [...]
The Wisconsin-based aerospace company Rocketplane had a plan to send tourists into space and lead the way in one of the more unique tourism industries.
That dream will not likely be realized now, however, as the company has filed for Chapter 7 bankruptcy, along with its CEO.
Rocketplane filed for Chapter 7 bankruptcy last month, according to [...]
Blockbuster is expected to announce a one-month reprieve on paying their creditors in order to file for Chapter 11 bankruptcy restructuring, reports Bloomberg.
Blockbuster was the movie-lending giant of the 1990s, but the company’s worth has fallen seventy-five percent this year. A share is valued at just seventeen cents. The company is now trying [...]
The latest step in the Chapter 7 bankruptcy filing of “Real Housewives of New Jersey” star Teresa Giudice will be a public auction of their belongings in August of this year.
Giudice and her husband Joe filed in for Chapter 7 back in October of 2009, but the case only recently became public.
In most Chapter 7 [...]
Another entity of hard-money lender OneCap is filing for Chapter 7 bankruptcy protection in Las Vegas.
The OneCap businesses, run by businessman Vince Hesser, pools investors’ money together and loans it out to real estate developers. Now the investors with holdings controlled by OneCap will have to endure delays while they pursue fraud claims against OneCap, [...]
The latest casino to search for answers in this economic recession is Riviera Holdings Corp., operating casinos in Las Vegas and Colorado, which has filed for Chapter 11bankruptcy protection.
Riviera’s holdings include the Riviera Black Hawk Casino in Colorado and the Riviera Hotel and Casino on the Las Vegas Strip.
The Riviera Black Hawk Casino is [...]
You may have even more reason to fear a phone call from a debt collector.
ABC News Denver reports that residents of Colorado have been receiving telephone calls from fraudulent debt collectors. These debt collectors know important and private information about the phone call recipients, such as name, telephone number, address, and the last four [...]