Sirius XM Satellite Radio has been working with advisers to prepare for a possible bankruptcy filing in a move that could put pressure on satellite company EchoStar, which owns a substantial amount of the company’s debt.
The number of Americans trading in marriage for cohabitation continues to rise. So, assuming that arrangement means commitment and longevity, couples need to make sure you have an estate plan in place to avoid some very unwelcome surprises down the road.
Prenuptial agreements are often associated with millionaire moguls and super celebs, but the truth is prenups are not only for the über rich and famous. In fact, people of all ages and ranges of net worth could find a lot of value in signing one before they tie the knot.
People seem to pass certain milestones on the road of financial desperation. First the unpaid bills pile up. Then the bank forecloses. Finally, they reach the end of the line: bankruptcy court. But now policy makers are talking about redrawing this map by putting the bankruptcy court before foreclosure to give people a chance to keep their homes.
For so long, it's been all about value in the retail sector, and looking at the latest retail sales results, that hasn't changed yet. But an often overlooked type of retail business is emerging as a new diamond in the rough: gemstones.
The names of several thousand clients who lost money investing with Bernard Madoff have been released in a court filing that reads like a Who's Who: former Los Angeles Dodgers pitcher Sandy Koufax, actor Kevin Bacon and even Madoff's defense lawyer.
No, Carmen says. The only person who can repair your credit is you.
The visible signs of the carnage in the retail sector will soon be too hard for many to ignore. The International Council of Shopping Centers projects 148,000 retail stores will be shuttered in 2008, and another 73,000 stores will close in the first half of this year. If those estimates prove correct, the number of closures last year will be the highest since at least 2001, and this year, closures will be on track for a similarly brisk pace.
Carmen weighs the options for one couple who feel like they're drowning in debt.
John Ulzheimer explains the pros and cons to filing for chapter 7 if you're in too deep with your lenders.
Sometimes when you look inside the numbers, you find something interesting. In a recent report I noticed the number of bank repossessions was rising faster than overall foreclosure filings.
German memory-chip maker Qimonda declared bankruptcy Friday, just a month after receiving a rescue package of millions of euros (dollars) in loans.
Here's the dirty little secret: bank nationalization in the UK has already happened. The vast majority – but not all – of the UK banks simply would not be solvent but for myriad government support.
Electronics retailer Circuit City Stores reached an agreement with liquidators on Friday to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.
Retailer Gottschalks says it put itself up for sale and has filed to reorganize in a Chapter 11 bankruptcy.
We haven’t heard that phrase since Lehman Brothers imploded. Wonder why.
As the countdown to the Obama administration falls into single digit days, the rhetoric over how to reverse the housing crisis is heating up, and much of the chatter is focusing on bankruptcy and “walkaways”. All of this leads me to ask the question, which is worse to your financial future: personal bankruptcy or foreclosure?
Despite tremendous fear that the nonfarm payroll report would be a complete disaster tomorrow, traders acted like there was little urgency. Volume was light, volatility was low and with the exception of one sector (retail) all S&P sectors were up or down less than one percent.
A while back I debated the pros and cons of a proposal to allow bankruptcy judges to modify troubled loans. The President-elect included it as one of the four tenets of his housing plan during the campaign, so one can only surmise that it’s still high on his list.
For all the hand wringing you see from people wondering if GM and Chrysler can get the UAW to re-work wages and benefits or for debt holders to agree on a debt for equity swap, the real trick will be closing dealerships.