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Ohio Considers New Income Tax for Unemployment Compensation

October 30, 2017 | Posted in Income

House Bill 382 was introduced by Ohio State Representative Kirk Schuring this week that proposes a premium to be charged to all Ohio employees beginning in 2019. The move is planned to generate $125 million per year in an effort to increase Ohio’s unemployment-compensation fund to contribute to jobless benefits. This new tax would equal […]

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Beware Security Interest Clause in Credit Card Agreements

October 24, 2017 | Posted in Credit

Generally, credit card debt is categorized as unsecured debt, or debt not secured by property you own. In a testament to always reading the terms and condition when you sign up for a new cared, some credit cards have recently been discovered to include a security agreement that can give credit card companies the right […]

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Flint Michigan Will Go Bankrupt without Water Agreement

October 17, 2017 | Posted in News

The Mayor of Flint, Michigan has faced a number of administrative troubles over the past few years. The troubles surrounding the city’s water began in 2011. When faced with a general fund deficit, the city council employed cost cutting measures that lead to tainted drinking water that contained lead and other toxins. The city’s water […]

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Massachusetts Contractor Gets Jail Time for Bankruptcy Fraud

October 12, 2017 | Posted in News

If you conceal assets from creditors during bankruptcy, you are breaking the law and could face heavy fines and imprisonment. Cyril Lunn, a Massachusetts based construction contractor found this out when he concealed assets and made false statements under penalty of perjury earlier this year. He was finally sentenced to a lengthy prison sentence by […]

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Southern Nevada Goodwill: Chapter 11 Bankruptcy

October 9, 2017 | Posted in Filing Bankruptcy

Goodwill Industries International Inc., better known as simply Goodwill, is an American nonprofit 501(c)(3) company that provides job training and employment for individuals who face employment challenges. The Goodwill retail stores that we are so used to seeing operate as nonprofits as well. The company that we know so well has recently run into some […]

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Ohio Among Worst States for Student Loan Debt

October 3, 2017 | Posted in Student loans

According to recent reports, nearly two-thirds of Ohio students leave school with debt. Furthermore, Ohio has the 10th highest average amount of debt per student coming in at over $30,000 per student for those that graduated in 2015. And student debt isn’t just a new graduate issue either: nearly 8 percent of Ohio residents over […]

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JCPenney on the verge of Bankruptcy

October 3, 2017 | Posted in News

  JCPenney’s stock is now officially a penny stock trading below $4 per share for the first time in the company’s history. JCPenney is a Department store that most Americans are familiar with. The company operates 876 locations in 49 states and Puerto Rico. JCPenney isn’t the only department store whose financial results have been […]

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Ohio Telemarketing Company Declares Bankruptcy

September 26, 2017 | Posted in News

Suarez Corporation Industries, an Ohio based Telemarketing Company filed for federal bankruptcy protection this week claiming to owe $10 to $50 million in debt, and owning $500,000 to $1 million in assets. SCI was started in 1970 by Ben Suarez who started the fledgling Direct Marketing Company from his home. Through direct marketing of a […]

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Bankruptcy Cases in Northwest Ohio Continue to Rise

September 20, 2017 | Posted in News

Bankruptcy filing have been on the decline for the past several years, with the decline being attributed to less medical debt thanks to the Affordable Health Care Act and an increase in the difficulty of getting a Chapter 7 bankruptcy case approved by the courts courtesy of the 2005 means test addition to bankruptcy filings. […]

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