Hello, I went through lots of problems last year. I thought if I knew more of those laws….. about business, credit, bankruptcy and so on, it would have helped me alot.
I do not have plan to be a lawyer, but I would like to study those laws that would help me in long runs.
How should I study them?
Help me please!
Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding
Solyndra, the solar panel company whose highly publicized failure and consequent investigation by federal authorities has flashed across headlines recently, isn’t the only business to go belly up after benefiting from a piece of the 0 billion economic stimulus package passed in 2009.
At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy.
Read more: http://www.foxnews.com/politics/2011/09/15/despite-stimulus-funding-solyndra-and-4-other-companies-have-hit-rock-bottom/#ixzz1Y3Uq2QVz
Anti-FoxNews wonks,
What have you heard that is substantial against FoxNews? Make your case.
Mortal Guardian,
Thanks for your support. I take it as an act of encouragement. I thumbs up ideologies that are against my own, because I think it’s important to encourage the freedom of ideas. More important than dictating what others must believe, I think. I accept other ideas, because people who disagree help to make us sharper in these times when the Truth of God is hidden behind a veil for so many of us. When He returns, then I think that people will have that mystery less indiscernible.
But anyway, thanks so much for your encouragement.
I found a job which I thought would be good fit for me. I’m starting to realize that I work for a boss who is discriminating, an alcoholic and has made several attempts to come on me, I have not given him any responses. I have brought his business back to life because when I took the position I thought he was kind and honest and he made it seem like people had used him and taken advantage of him. Now I feel that he’s been playing head games with me because I wont give in to his advances. He told me directly that he wants me to hire someone for him who is "loose and easy" and other things which I wont mention. I usually dont pay much attention because he’s drunk. He’s constantly lying to people, things of which I know are not true. I’ve seen him watching porn at work. He is an alcoholic and sees patients while hes fully drunk. I would leave but Im having a hard time with this economy to find anything else. I also feel that he’s using me to fix his own problems and when hes not able to fulfill his responsibilities, he holds me responsible. He cant drive due to several DUI’s which I just found out about and asks me to pick him up and drop him off at home which is out of my way. I’be been doing it out of the goodness of my heart and having good work ethics. He’s going through divorce, bankruptcy and many law suits from previous employees. I really need the job as I am putting myself through school and dont have any other source. I have been praying and asking God for help. What do I do in the meantime ?
As an empath I feel he’s feeding off of me and draining me so I would give in eventually. What do I do, in the meantime? Please advice.
Thank you
"The Pension Benefit Guaranty Corporation has become an increasingly popular option for private-capital funds and other investors who are seeking to spin investments in near-bankrupt industrial companies into gold. The key is to shift the responsibility for pensions, which weigh as heavily as bank loans on a company’s balance sheet, to the pension corporation.
The same financial alchemy has been performed at Polaroid and US Airways, at textile companies like Cone Mills and WestPoint Stevens, and at a host of smaller companies over the last four years. And bankruptcy specialists say that it is almost certain to keep happening, because shedding pensions – and pensioners’ health care obligations – is turning into an irresistible way to make a high-risk investment pay off. "
https://www.nytimes.com/2005/09/18/business/18pensions.html
Sorry for the bad link:
http://www.nytimes.com/2005/09/18/business/18pensions.html
My parents are divorced and I live between my mom’s house and my dad’s house. However, the address on my driver’s license is my mom’s address. Once I arrive to Montréal however, I will be exchanging my license for a Québec license which will have my new Québec address on it (one of the apartments I’ve been looking at). I am wondering which of my parent’s income to put in order to receive the most money from OSAP. My mom does not work, however she is disabled under the Canada Pension Plan so she receives a substantial amount from the Disability Benefit. I will also be receiving some of this money (Child’s Benefit, 214$ per month) as a child aged under 18-25 of a disabled parent attending school. On the Income Tax Return, my mom makes much more money than my dad does. My dad owns a small business, a cigar shop in which he is the only employee. Business is not good, he has a considerable amount of debt from credit cards and currently owns no more credit cards. He didn’t file for bankruptcy but almost did. He currently lives on the upper level of his store, so he technically doesn’t have a house. When I go to live with him, I stay in that upper level of the store. Needless to say, his yearly income on the tax return is much less than my mother’s. In your opinion, which of my parents should I put for the income part of the application?
The answer for me is to put my dad as he makes less money, but the problem is that the address on my license is my mother’s. However, I’ll be changing my license for a Québec one in about 7-10 days and that one will have a completely different Québec license. Please advise me with what to do and which parent to put, I would really appreciate it. Thank you so much!
To "It’s me":
Yes, they live in different households. However, would they cause me any problems if I put my dad’s income on the application but the address on my driver’s license is my mom’s? That would technically mean that I lied about living with my dad wouldn’t it? I actually live between both (1 week here, 1 week there) but the address on all my official documents is my mom’s. The license will be exchanged very shortly to a Quebec license with a new Quebec address on it but I’m just wondering in case…Thanks for your help.
To "Miss Priss":
My mom and dad both live in Ontario. I have lived here my life. I am only moving to Quebec for university in September.
for instance there are any number of individuals such as CEOs, actors, athle;tes and the like who make several millions of dollars a year, even as the government goes bankrupt. In most cases these individuals have signed contracts that entitle them to whatever money they receive, although this is subject to change under certain circumstances. At any rate, it would seem to me that someone who is making million or more a year could stand to have at least a mere million taken from their annual salary, and would likely not even feel the difference from this reduction. Moreover, a reduction of million from the salary of 1,000 such people would alone generate billion over the course of a year, which would take on a whole new meaning when multiplied several times. With that said, has no one considered the idea of garnering additional income from cuts such as the aforemetioned, with or without the addition of cuts from wasteful spending as it relates to entitlement programs and/or other programs? I just think that the salary cuts I have mentioned would have a much better chance of improving the economy with less of an impact on the American people in general.
As far as raising taxes, I am not sure if this is being considered by Obama as an alternate way of increasing revenue in light of the government bankruptcy, but the fact is that this will do no such thing, in fact it will more likely make things worse than they are currently. Small businesses for instance will lay people off or hire less due to having to pay more in taxes. Raising taxes will also likely cause inflation due to monietary manipulation in the event that things continue on this path.
Hello a while ago I signed up for a taekwondo gym. I paid ahead of time. Then one day an employee there tells me that the company is closing. I was unhappy that the tkd place closed down, but I am also unhappy I had already paid 400$ to them in advance. It was a small business then one day they decided the price to keep running the place was more expensive. I guess it went out of business, but the owners did not file bankruptcy. I was wondering am I legally entitled to my money back since the tkd place closed? Money is tight for me and 400$ is a lot for me. Thank you for you help in advance.
Higher taxes on the business hurt the middle class most. When businesses have their taxes raised, they often are forced to cut back on expenses, which usually lead to layoffs. When small businesses are taxed at a higher rate, they often have to raise their prices just to maintain the same profits they were making prior to the higher taxes being implemented. When businesses that are just barely scraping by have their taxes raised, it could potentially force them to declare bankruptcy, thus having to layoff all their employees, and make their industry that less competitive. And given that the middle class consists of the majority of employees and consumers in this country, isn’t it clear the middle class is hurt most by increasing taxes on businesses? How am I wrong?
@ Small Peace – Where in my question did I ever mention the Saudi family, or healthcare? Stupid libtard.
@ Vern86 – The President just announced today that he wants to raise taxes on “millionaires and billionaires” and those with “corporate jets.” And most Democrats in office favor raising the corporate tax rate to 1950’s levels. I agree with closing tax loopholes, but it must be met with a reduction of the corporate tax rate, otherwise our already overtaxed corporations (highest corporate tax rate in the world, around 40%) will suffer, thus the middle class suffers more.
Unfortunately I used this personal credit card to help fund my business because I was trying to save the business from bankruptcy. My business went bankrupt and my credit card companies reported as charge-offs on my credit report. I understand that I am personally responsible for this debt, but I have no income as I stay at home with my autistic son. I too have a disability (bipolar and asperger’s disorder) and I have a hearing about to be scheduled with social security.
So here are my questions:
The debt incurred in Idaho. Chase Bank wrote my debt off their books. They sold my debt to "Midland Funding LLC". I never received notice that this debt was sold, just found out today via the letter. So now "Midland Funding LLC" hired a collections law firm and they sent me a letter threatening to file a lawsuit. I am sending them a letter requiring validation of debt and reminding them of the fair debt collection practices act (or whatever its termed).
*Can a collection law firm sue me in Utah for debt incurred in Idaho?
*The letter was addressed to myself only. My husbands name wasn’t on the letter, and I don’t believe that he signed for the credit card with Chase. I don’t remember if he was an authorized user on the account. CAN THIS LAW FIRM SUE MY HUSBAND FOR THE DEBT?
*If I lose in court, is it probable that my husband’s wage will be garnished? I won’t have any income except for my husbands wage (which only pays our essential living costs, no money left over) and my son’s SSI. I might be awarded SSDI, and if I do, the social security income for my son and I combined will be 0 per month.
**My husband will probably only make K this year.
And its interesting that this law firm has had 29 complaints, half of which were reported to the BBB (they have an F rating which is probably common for collection law firms), the rest of the complaints were reported to the Consumer Protection Agency for collections violations.
Thanks for all the answers! Yes, of course I know that "this is what I get for not paying it off". To be honest, there isn’t much that I could have done when it comes to paying this debt. My husband operated a very successor business for 10 years. On the 11th year when hard financial times hit, visitors to the resort dropped to 1/2. We couldn’t buy food or medical services for my son as medical insurance didn’t cover Autism. As we were nearing bankruptcy we tried to sell the business and had a buyer until our landlord (a ski resort) broke there end of the lease and opened the exact same type of store in our place. So THIS is why I am trying to figure out how to win this case. We have NO assets we lost them all. I’m not writing the details as an excuse, it explains why I can’t pay any extra bills then necessity.
i completed 18 online classes at LU and I have to be honest, it was the easiest curriculum I have ever taken. I transferred outta there before I got my AA, because it is an embarrassment. The classes seem to put religion in every single subject. imagine trying to learn about business law and you have to write a discussion about how christians would deal with bankruptcy and whether the bible says if it is ok or not. i am trying to learn what is legal not whether the bible says its ok or not. i had some of the dumbest classmates that post discussions in elementary format worst than how i am doing here, ( im just being lazy). It just felt like as long as I include a bible verse in the discussions, then i would get a good grade, that’s all they really want. I didn’t feel it was challenging enough for me at all. I actually had the fraud teacher that claimed he was an Islam turned Christian Ergan Caner for one of my classes, who knows if it really was him as it was online though. it seems as if i google liberty on google news there is something bad always written about them, i read recently how they blocked all the students access to the internet because of some news report they did not want the students to read. it seems the school gets a substantal amount of money from the government, possibly political connections. i dont see how there is any liberty in Liberty university. it seems they want to control everything the students do. dont get me wrong the, school is very organized, i just wished they keep the religion in the religion classes only, started to set some standards in the curriculum, and especially not accepting anyone that applies, their student services are great however, and it is one of the best set up online format schools i have seen and very easy for a beginner online student to get used to , but i just dont feel any satisfaction that i learned much from the school. i am surprised though that they actually are regionally accredited and allow transfers of credits. if anyone at liberty university reads this, i hope you can improve your curriculum!
I just remembered on idiot classmate. I was talking about Chapter 7 and Chapter 13 bankruptcy. He actually though that those were chapters to our textbook! lol
The American Journal of Medicine says over 3 out of 5 personal bankruptcies are due to medical debt (http://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States).
Wouldn’t it be great on the economy to have Universal Healthcare? The UK spends only 8% of GDP on healthcare while the US spends 16% and still has to pay for insurance! Further, UK small businesses are not burdened with having to pay for employees insurance making them more competitive. As a Conservative, wouldn’t you agree that slashing federal spending on healthcare by 50% and decreasing costs for small business is a great idea?
Well, I am actually a medical insurance broker and I can tell you 1) prices are not set by governments, they’re set by the cost of medical care which is set by hospitals and 2) if people paid for healthcare through their taxes, non-payment wouldn’t be an issues unless the people were evading taxes which is another issue.
Capital: So are you saying that the published statistics that show every UHC country spends less GDP on healthcare are all lies? Every stat is wrong and you are right because you said so? Hmm…
I know someone personally who has been in the US for around 9 years now and got married to an American for her green card.She’s waiting for her citizenship now, which she told me will get next year. The American man doesn’t even live with her, but she calls him to visit her whenever she decides…maybe knows the days/time the immgiration might check up on them…don’t know.
The woman also keeps that American guy in her office (working together though living separately) and always tells me that once she gets her citizenship she will kick him to the curb from work because he gets on her nerves. Now she’s dependent on him so can’t do anything about it. Number of people around her know that she entered into a fraud marriage, so definitely not a secret in her circle plus she lives with her son, thoough keeps fake albums of her ‘husband.’ Is it too late to report her as she’s waiting on her citizenship next year? The woman also sometimes on documents uses adifferent last name which she claims she will change into later on..but hasn’t officially changed it yet though keeps using it at the same time she uses her real birth last name. She also does what’s known ‘unauthorized practice of law’ when she deals with immigration just with her notary certificate and then gives the forms to a lawyer she works with to get the docs signed for her. As far as I know, only lawyers can fill out immigration forms, right? She also filed for bankruptcy years ago so the consulting office she has opened where she deals with the new immigrants who need help with paperwork and dont know shit about the country/laws, that office is under someone else’s name as she has no credit history herself now.
I also saw that one of her clients forgot to sign part of a doc, so she later asked her receptionist to sign it before sending the green card forms of that client off to the immigration. She also opened up a business within her small office where she supposedly find people for a marriage…as in a dating office, but the real intent in that is that she hooks up people for a marriage for a green card/paperwork. So do I have any chance in reporting this…and where exactly? I heard that many fraud marriages don’t even get reported on, so I’m kind of hesitant in reporting this knowing that her citizenship is in process now and that the authorities might not even do anything about it. What will they do exactly….? Just go to her place and check to see if her ‘husband’ is with her and that’s it?
The woman has hurt numerous people (newcomers not knowing the laws, including me minimaly though) and I feel like it’s a pay back time for all of her sins as she’s only exploits people. So any chance here????
If the couple has separate bank accounts, if one spouse has to give a personal guarantee for their small business and has to file bankruptcy, will the other spouse loose their assets?
It seems like there is no real answer. There community assets, but according to this article there was a ruling where you can’t go after the spouse.
http://library.findlaw.com/1998/Jul/1/129372.html
We had started our business in 1987. It failed in 1994. Bankruptcy followed by Chapter 7 in 5 years. The card was sold to another company which contacted me in 1999 and I started paying them what they asked until 2002 when my husband had to go on disability. Five months he had to wait, of course, for his first check. Our income fell to my 3 figure disability check and we couldn’t pay most of our bills and I did quit making those payments on the advice of Credit Counselling with United Way. The original card is 11 years old, but it was sold. How can I be sued for this amount, which has grown to over ,000 including interest and other charges added on?
Does the actual cash value of contents lost in a house fire money count as an asset if one is applying for senior housing? How about bankruptcy, would it have to be declared as an asset if its purpose is to replace belongings lost.? Is it taxable? ANd are there any othre restrictions if the recipient decides not to replace some of the contents (moving into smaller quarters with no need to replace every piece of furniture, is it ok to use that money for another purpose? Thank you to any of you knowlegeable people who may have some insight on this, I dont want to make any mistake, and its not something u want to ask just anyone, it is not most peoples business. Thanks again for any insight your knowlege can offer me…
They blame bankruptcy and say China will screw us. (that is the biggest bull I heard) With these radical cuts Education will go to hell and more dropouts will be made. Also these cuts will lead us into a Big Business nightmare and with the cuts and smaller government they will be pigs and lead us into a depression.
Explain Yourself
Now I have talked to many people about this topic and a lot of them say (respected business people) that wal-mart is like K-mart and Woolworth and they will die eventually from under selling the suppliers and a bunch of other stuff. I am about 50 50 here however what they are trying to do as it is become apparent to me is to CRUSH and KILL AND SMASH you if your in business in the retail industry. That’s at least what the deal was until a few years ago now they want to do it to more industries. My cousin wants to become a doctor and he told me that they are trying to open clinics now in some of them (medical industry) so here they go with another industry trying to SMASH you there eventually to go see the doc you might have to go to wal-mart. What’s worse than this? They tried to take over the banking industry too, I was reading that they were trying to buy out banks and I think it was some large bank but thankfully the government passed a law that said that they couldn’t do that but knowing wal-mart they will keep twisting arms until they get what they want. Speaking of which they twist the arms of public officals to get the massive amount of land they need for their stores I mean think about it; do you think I could buy a business that
large even if I had the money? NOPE: environmentalist would be on me in a flash but wal-mart has a way of manipulating people. Also many suppliers like valasic pickles have had to declare bankruptcy due to their limitless demand from them to get lower prices lol. So there we have it are they bound to take over one industry after another? CRUSH KILL DEMOLISH SMASH YOU!! That’s their goal if you want to take on the responsibility of one of the greatest things
in this country being an entrepreneur. So just don’t start your own business or anything they already have food stores in some of these wal-marts so you might not even be able to start something in the restaurant and food industry. Anyway opinions??
Peace
I thought I was paying my tax person not to make mistakes. So now I have to pay for her mistakes?
Is there any way I can ask her to pay my back taxes? Or ask for the money back that I paid her to do my taxes?
I am a small business owner and I may have to file for bankruptcy because of this mistake.
What do you mean by penalties? Does the government charge interest or late penalties on back taxes?
I didn’t ask if the tax preparer was obligated, I asked if I could ask for them to pay. When I do ask, what should I say to make them feel more obligated to pay?
My sister and her bf opened a donut shop a couple yrs ago. In Dec, he decided to up and leave her and declare bankruptcy leaving her with the taxes and the clean up. She couldnt run the business alone and had to file bankruptcy herself.
The question is : A new lease wasnt written up after her bf left and the owner is now taking her to court to pay for lost rent, so is she liable for everything? I would assume that if the owner didnt make a new lease that her bf is still supposed to pay his half.
TOPIC: Civil lawsuit and Enforcement of a judgment thru a "LEVY"? Search and seizure. Exactly how does this work?
INTRO: my cousin owns his own business, but got sued by a larger company who is a known bully in the field and basically accuses small companies for stuff they didn’t do because the judge in his town is "buddy buddy" with them, i don’t know the arrangement and can’t prove it), but they basically swoop up the entire market share in his field one-by-one by knocking off these small companies with bogus claims in high courts. He couldn’t afford an attorney but they brought 4 of them as they do in all their cases apparently. Here’s my question:
QUESTION: He lost the case and it’s some ridiculous amount he’ll never be able to afford. It’s going to destroy his life and his family’s, but he doesn’t want to have to file bankruptcy (for a number of reasons…at least yet). He was asking what happens if he doesn’t/can’t pay and they sell the judgment to a collection agency/lawyers who specialize in capital recovery and the like. He doesn’t own any property but has built up a sucessful online company from his apartment and is the most honest, hardworking guy I’ve ever known. His company is popular because of his line of products and his customer service but he’s only been doing it for 8 years (I never see him anymore). He has 3 kids he’s trying to put through college. However, If the civil judgment is for a crazy amount (5,000) and he owns no property except what’s physically "in" his apartment, once the lawyers sick the collections agency on him, he and his family are worried that the same judge will just sign off on anything they put in front of him, based on the case so far. Their fear is that the lawyers will just get get a lien on his business (auction it off, even if no property, auction of the trademarks and all that stuff he’s worked hard to build) and bring it over to their company like they’ve done with the other lawsuits.
From his research his fear is that they will get a search and seizure (not sure the term) and go in and take ALL his family’s stuff (we know there are exemptions), but like take his safe etc which has all his trade secrets and kid’s future college tuition. He knows not to put it in the bank because they could levy it all in one day. If they don’t know he has a safe per se, WHAT IS IT CALLED (AND EXACTLY HOW FAR CAN THEY GO) can they get some sort of "general" lien/search and seizure where they can go in (knock or barge in–don’t know) and take anything "of value" / to pay back that civil judgment where they then sell it at auction? Do they "have" to have items named, like safe, or can it just be "go in and get anything over a certain value". We all know/have seen those public auctions wher they’ve gone in and levied (???) people’s stuff. He’s renting his apartment with his wife, their 3 kids, and his wife’s brother in-law who recently lost his job and they took him in.
Sorry for writing too much, so basically this question is about enforcement of a levy (other than bank/paycheck because he works for himself). Just need to know can they levy what’s in his apartment, do they have to knock, does the search and seizure (not sure what it’s called in this case) have to "specify" items that can be taken (can items even be taken?), auction them, etc. Also (another question) can they just slap a notice on his front door and auction off his business? (you know who will be there to buy it too). Also, is it the local marshalls who do this? What kindof paperwork would they need? Whatever detail you can provide would really help. Thanks so much.
J.D.–Nice try (actually REALLY nice try) but the problem is the type of lawyers who participate in this type of behavior (actually any/every type of copyright lawyer) are the same types of lawyers who immediately whip out "FRAUDULENT TRANSFER" body of law in all its beauty. Then the court just says it’s still really yours, so you’re little IOU trick doesn’t hold water in the end. Like I said, nice try. We’ve all thought of that one. Yes, people do it all the time, doesn’t really work unless your attorney is in 5yo or something. In fact, one of the "badges of fraud" is that the purchase amount is not commensurate with the value (ie ""). Still it’s the best answer, and will probably remain the best answer). A second "badge of fraudulent conveyance" is when you sell it to a "closest family member". There are many. The "average Joe" doesn’t know about them, but then again, the average Joe isn’t CEO, and if he is, no one really wants his business in a "hostile takeover" / back door type
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