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February 2014 Archives

Fifth Third Bank falsely reported clients with credit card debt

For most Michigan residents, establishing and sustaining a respectable credit score is crucial. Many people work very hard at avoiding overwhelming credit card debt and defaulting on payments of existing debt. Failing to practice proper debt management could result in a low credit score, which directly affects one's ability to obtain loans of any kind. Furthermore, it will also negatively affect insurance rates, job applications and more.

Purchase offer for peanut giant Sunland Inc following Chapter 7

In recent unstable economic conditions, most of us have witnessed successful companies fail as a result of unforeseen adverse circumstances. Michigan readers may recall the involvement of the peanut giant Sunland Inc. in the countrywide salmonella outbreak of late last year. Product recalls proved to be the final nail in its coffin, and Sunland Inc. filed for the protection of Chapter 7 bankruptcy after that.

Michigan residents may be unable to settle extreme medical debt

When Michigan residents are injured or have an illness requiring medical care, they are likely to face overwhelming medical bills. A survey showed that a quarter of American families found it difficult to settle their medical accounts in 2012. It also indicated that one family out of every ten had medical debt that they would be unable to pay.

Economy forces many to seek Chapter 7 bankruptcy protection

The recent economic conditions have been a contributing factor to the demise of many businesses. Just as some Michigan companies are finding it difficult to keep their heads above water, two struggling businesses in another state have succumbed to the pressure and filed for the protection of Chapter 7 bankruptcy. Both businesses are reported to have lots of potential, but have been the victims of an unfortunate combination of circumstances.

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