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Video: The Benefits of Bankruptcy
Bankruptcy judge OKs 3 American Air labor deals
The new contracts ratified by other workers will let American reduce jobs for flight attendants and ground workers and close a maintenance hub in Fort Worth, Texas. Pensions for workers other than pilots will be frozen but not terminated, and they will instead get an improved profit-sharing plan. Retiree health benefits for current employees will be reduced.
Source: theolympian.com
The Benefits Of Bankruptcy
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Source: creditrepairfeed.com
Beyond Debt Management to the Benefits of Bankruptcy
Maybe your gut tells you that bankruptcy still carries some sort of stigma, that it should be avoided at all costs. But this is not the nineteenth century England of Charles Dickens, where people were thrown in debtor’s prisons. This is America in the twenty first century, where the bankruptcy system is still designed to give people a fresh start.
Source: edfeldlaw.com
Unemployment benefits drying up, while job losses continue
The effects for families of unemployed workers are devastating, with many trying to avoid foreclosure. Some may find relief through bankruptcy, which can either wipe out debt completely or assist debtors in creating an affordable payment plan to pay off debt, depending on the chapter of bankruptcy that is filed. Both Chapter 7 and Chapter 13 bankruptcy filings may be able to halt foreclosure proceedings.
Source: sanfrancisco-bankruptcy-attorney.com
Why doesn’t Stockton challenge CalPERS in bankruptcy?
The public pension fund crisis is dire across most of America. Some states and local governments have well funded pension plans, but on a national basis pension plan shortfalls are estimated to be in the trillions of dollars. Public resources are increasingly being diverted to pay for pensions. Cities with large public pension plans had median contribution rates of 12.7 percent of payroll in 2009, up from 10.3 percent in 2002 (GAO page 15). This is projected to climb as more public workers retire. As pension costs rise, state and local governments either have fewer resources to spend or must raise taxes to maintain a steady level of services.
Source: reuters.com