Debt after Death: What Happens when a Debtor Dies
Posted on August 26th, 2010
What happens to your debt after you die is not a topic that’s likely to come up on its own at the dinner table, but it’s a good idea to talk about this matter anyway. It’s important for you and your loved ones to know when you’re responsible for each other’s debts post-mortem—and when you’re not.
A recent post from WalletPop.com offers an outline of what to expect after the death of a family member who owed money. Here’s a summary.
- Can debt be inherited? In most cases, debt does not automatically pass from one family member to the next, according to sources. That means that
In Bankruptcy or Business, Failure May Be The Secret To Success
Posted on August 25th, 2010
Back almost three years ago, one of the good bankruptcy attorneys in the Indiana Zuckerberg bankruptcy law office made a remark that I quoted in Bankruptcy in Indiana. That remark is truer today than ever: “No one can work in this field of bankruptcy law,” she said, “without thinking every day, ‘There, but for the grace of God, go I.’”
In fact, as a debt consolidation lawyer offering bankruptcy services in Indiana for more than twenty years, one of my missions is to help Indiana bankruptcy clients focus on the future rather than on their own past failures. Two of the top 15 myths about bankruptcy in Indiana have to do with failure:
- Filing bankruptcy means you’re a bad person
- Only deadbeats file bankruptcy
You can imagine, then, how fascinated I was, as a longtime bankruptcy lawyer in Indiana, by the notion that failure may actually be an important, even an indispensable, ingredient in success!
That’s exactly the concept presented by local author Robby Slaughter in his new book Failure: the Secret to Success. We Read more…
Think Tank Warns On 8% Interest Rates
Posted on August 22nd, 2010
A think tank has warned that interest rates could rise to as much as 8% if inflation continues to exceed the Bank of England’s 2% target.
Andrew Lilico, chief economist at the Policy Exchange, said the Bank of England may be forced to dramatically hike the base rate due to rapidly rising inflation.
Dr Lilico thinks the UK is likely to suffer from a double dip recession, followed by a boom, driven by huge monetary growth, leading to the strongest economic growth since the 1980s.
“Once the economy gets growing sustainably, there will be a huge expansion in the money supply, which will lead to inflation,” he said in a research note.
The Bank of England has pumped £200 billion into the economy through quantitative easing.
But Dr Lilico warned that this policy had quadrupled the money base, and he claimed that once the economy starts growing again, lending will expand and there will be “too much money chasing too few goods”. This
Indiana Bankruptcy Lawyer Stays Updated on GM
Posted on August 20th, 2010
A bankruptcy attorney in Indiana – actually anybody in Indiana – has to care about the future of GM. And actually, as a debt consolidation lawyer offering bankruptcy services in Indiana, I’ve been sharing news about the GM bankruptcy with my clients and Bankruptcy in Indiana readers from the beginning.
A few weeks ago, I wrote these words: “Tracking Indiana employment statistics is like riding an emotional roller coaster.” Well, as I was telling some colleagues who are bankruptcy lawyers in Columbus, the GM saga has been like a roller coaster and then some, and the drama continues…..
The reason the fate of the GM stamping plant is such an item of interest for all the Anderson, Bloomington, Indianapolis and Columbus bankruptcy lawyers who work in the Zuckerberg bankruptcy law offices can be summed up in one word – jobs!