While a charge-off may sound like a solution to an unpaid debt, it indicates that your creditor determined that you are unlikely to repay a delinquent account. In turn, the creditor closed your account and reported a charge-off to the credit reporting agencies. As a result, a charge-off will appear on your credit report indicating…
DetailsThe Minister for Justice, Helen McEntee TD, announced today that she has consented to the making, by the Insolvency Service of Ireland, of Regulations to continue the waiver of personal insolvency application fees for a further 3 years, until 31 December 2023. Welcoming the waiver extension, the Minister said: “Continuing the waiver of fees for…
DetailsWhat are the main Jersey insolvency procedures for a Jersey company? What is the effect of commencement of Jersey insolvency procedures? What are the powers of the liquidators or the viscount? What transactions can be set aside? How are assets distributed on a creditors’ winding up or dsastre? Insolvency and Jersey trusts Insolvency and Jersey…
Details2020 marked a retail apocalypse with many major retailers across the country forced to close their doors amid economic pain spurred on by the pandemic and a changing retail space. MOSAIC SHUTS HUNDREDS OF STORES A major retailer to be hit in 2020 was Mosaic Brands, which owns well-known fashion outlets including Rivers, Katies, Rockmans,…
DetailsNewcastle Crown Court was told that Lee Davis, of Blyth, Northumberland, was declared bankrupt in April 2016 following a petition by the tax authorities having failed to pay taxes he owed. A month before bankruptcy, however, Davis received more than 33,000 in inheritance from his fathers estate. He then transferred half of the funds to…
Details2020 is over. Let us never speak of it again. Technically, the new decade begins in three days with 2021. The least that can be said is that 2021 doesnt have a hard act to follow. Short of a nuclear alien invasion war, it cant be any worse than 2020. Or so we hope. Though…
DetailsWith 2020 coming to an end we look back on the articles that had our Facebook followers clicking that comment, like and share button. When it comes to The Chronicle articles, there were some that were made to be shared on social media. The Chronicle Facebook page has more than 68,000 followers and with that…
DetailsCouple in debt counseling session Credit cards, student loans and other types of debt can be a hurdle to reaching your long-term financial goals. If managing your finances on your own is getting overwhelming, you might seek out a financial advisor for debt help. While financial advisors may be more often associated with things like…
DetailsTheres a sizable gap between what a company is worth in liquidation and what its worth while still operating, according to University of California at Berkeleys Amir Kermani and Chicago Booths Yueran Ma. Companies going through Chapter 11 restructuring are worth about twice as much when they are going concerns rather than liquidated, they write.…
DetailsA training college for China Southern Airlines pilots operating from Perth’s Jandakot Airport has gone into voluntary liquidation, with more than 60 local staff losing their jobs. Key points: The training college for China Southern Airlines had employed 62 local staff A liquidator hopes to sell the college’s 37 planes and Merredin Airport The Wheatbelt…
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