Find your financial footing after bankruptcy

By Andrew Housser

Last year alone, nearly 1.2 million consumers filed bankruptcy. The figure is expected to remain steady as the economy continues to struggle. That is in part because most serious struggles with debt come from the challenges of daily living. In fact, job loss and unforeseen medical expenses are the top reasons for bankruptcy filings — not reckless spending. If you have had to liquidate assets (Chapter 7 bankruptcy) or reorganize debt (Chapter 13 bankruptcy), you may be wondering whether you will ever be able to recover financially. These six tips can help get you back on track.

1. Address the cause of the bankruptcy. Everyone who files for bankruptcy must undergo credit counseling and complete a debtor education program. These financial sessions can help you learn to develop a budget, manage money and use credit wisely. Use this knowledge to address the issue that landed you in bankruptcy court. For instance, an emergency savings fund can help you weather unexpected financial hardships like a job loss or medical expenses. If you depleted your emergency fund before filing for bankruptcy, or you never had one, now is the time to start saving. The goal is to have enough set aside to cover basic living expenses (rent or mortgage, car payment, utilities, groceries) for at least six to nine months. Set up automatic transfers into a savings account, even if it is only $50 a week.

2. Rebuild your credit profile. Having a history of financial troubles can make it more difficult to

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Job of the day: porter

Lower Eastside Service Center in New York is hiring a porter to maintain and clean all common areas of the building, both inside and outside. The porter cleans, sanitizes, mops, washes and maintains common areas including dining area, bathrooms, (done daily) elevator, lobby, hallways, waiting areas, roof drains and laundry rooms if applicable.


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Job of the day: registered dietician

NewYork-Presbyterian/Columbia University Medical Center is hiring a part-time registered dietician to educate dietetic interns and staff and develop nutrition treatment programs to ensure optimal nutritional care in accordance with established procedures and regulatory requirements.


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NYC inmate almost as costly as Ivy League tuition

Associated Press

NEW YORK (AP) – A recent report has found it costs almost as much to jail an inmate in New York City in a year as it does to pay for four years at an Ivy League university.

The Independent Budget Office found it cost $167,731 in 2012 to house each of the 12,287 daily New York City inmates. That’s about $460 per inmate per day.

Experts say certain, expensive fixed costs in New York’s system keep the figure high despite a large drop in incarceration that peaked in 1991 with about 22,000 inmates.

Another factor is the hundreds of millions of dollars spent a year to run Rikers Island, the 400-acre island located next to the runways of LaGuardia Airport that has 10 jail facilities, thousands of staff, its own power plant and transportation system.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Rating agencies an afterthought in debt roof fight

standard and poors

SP upped a opinion on a U.S. credit rating in Jun to “stable,” yet a nation didn’t recover a AAA rating.

The latest mercantile showdown in Washington could hint another hillside of a U.S. credit rating, though investors aren’t sweating it.

Standard Poor’s done headlines and roiled universe markets following a final debt roof crisis, in 2011, when it cut a United States’ sterling AAA rating to AA+. The rating group cited concerns about a nation’s long-term debt and a dysfunctional process making.

But dual years later, that hillside has had small durability impact. As in 2011, a probability of a debt roof breach stays a frightful prospect, though investors contend a ratings agencies are mostly an afterthought in a stream crisis.

“They’re noticed as generally being late to a party, generally on U.S. supervision debt,” pronounced Craig Brothers, comparison portfolio manager during Bel Air Investment Advisors. “I don’t consider [U.S. debt] would trade any differently as AA than as AAA.”

The rating agencies took hits to their reputations following a financial crisis, carrying failed to flag signs of difficulty in a housing marketplace forward of a crash. Five years later, a effects of these mistakes are still lingering.

“The rating agencies have mislaid a lot of credit over a final several years,” pronounced Kim Rupert, a bound income researcher during Action Economics. “They’re still important, though a marketplace doesn’t

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Stocks diseased as U.S. shutdown looms

sp 500 futures 730

Click on draft to lane premarkets

Stock markets are set for a sell-off Monday as domestic squabbling in Washington threatens to lead to a supervision shutdown during midnight.

U.S. batch futures were all down by roughly 0.8% as investors remove faith in their political leaders and worry about a outcome that a shutdown could have on a U.S. economy.

“If zero is concluded by tonight, that seems likely, there will be an mercantile strike as some [government] employees are put on delinquent leave and non-essential supervision services close,” explained economist Robert Wood from Berenberg Bank.

Related: 8 things we need to know about a debt ceiling

Monday is a final day of a month and a third quarter. Both a Dow Jones industrial average and a SP 500 index have risen by good over 3% so distant in September, attack record highs as investors cheered continued impulse by a U.S. Federal Reserve. All 3 indexes are adult for a quarter, led by a Nasdaq, that has risen 11%.

But markets have pulled back as a shutdown looms and a U.S. nears a debt ceiling, a extent on a volume it can borrow. If a supervision hits a debt ceiling in mid-October, it will not be means to compensate a bills and will default, yet many people trust a last-minute

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European IPOs theatre a comeback

chart european ipos

The European IPO marketplace is recuperating from 2012, though is not scarcely as clever as it was before a eurozone predicament hit.

The European marketplace for new listings is entertainment an considerable comeback, with initial open offerings lifting some-more money so distant this year than in all of 2012.

According to information from Dealogic, new listings on European batch exchanges this year have lifted $16.2 billion, scarcely triple a volume lifted in a same duration final year.

The reconstruction comes as concerns about a break-up of a eurozone have all though left and equity markets have rallied.

U.S. investors are solemnly rebuilding their bearing to Europe, after formerly journey a segment when a emperor debt predicament was raging. And association increase are rising as Europe emerges from recession.

“There’s a elemental gain liberation story in Europe that U.S. investors find utterly compelling,” pronounced Gareth McCartney, a London-based handling executive during UBS (UBS).

McCartney points out that a IPO marketplace in a U.K. has been utterly strong, hold adult by issuers in a skill and word markets.

Related: The American IPO marketplace is on fire!

But it’s not time to cocktail a champagne utterly nonetheless — European IPO activity still hasn’t strike a levels seen in 2010 and 2011 when over $30 billion was lifted any year.

Looking forward to a rest of a year and into 2014,

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Is Obamacare a jobs killer?

obamacare pursuit killer

Will Obamacare throttle off employing in a frail U.S. pursuit market?

Critics claims a Affordable Care Act — a.k.a. Obamacare — will cost a economy jobs. But economists’ views are churned on a issue.

Nine out of 14 economists polled by CNNMoney pronounced businesses are putting off employing in light of health caring reform, that stipulates that employers with 50 or some-more workers yield affordable health word starting in 2015.

And CNNMoney has listened anecdotal stories from tiny businesses owners that medical remodel is causing them to give employees fewer hours.

But there is also reason to trust a pursuit murdering critique could be overblown.

As of 2010, 97% of tiny businesses had fewer than 50 employees, according to a U.S. Census. That means Obamacare’s employer charge applies usually to 3% of America’s tiny businesses. Of companies with some-more than 50 workers, 96% already offer health plans, supervision information shows.

The ADP jobs survey — one of a largest surveys of private employers — shows that tiny businesses are still employing strong.

“There is small justification that mercantile purgation and Health Care Reform have had a poignant impact on a pursuit market,” pronounced Mark Zandi, arch economist of Moody’s Analytics and a co-operator on a ADP report, in a press recover with a Aug survey.

The box for spiteful pursuit growth: Uncertainty was a big

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Mark Cuban insider trade hearing set to start

mark cuban

Mark Cuban’s insider trade hearing is finally set to start 5 years after a SEC initial filed charges opposite him.

The Securities and Exchange Commission’s polite fit charging businessman Mark Cuban with insider trade is set to get started in Dallas on Monday, scarcely 5 years after a group initial brought charges.

The argumentative owners of a NBA’s Dallas Mavericks and a star of a existence radio uncover “Shark Tank” is indicted of transfer his whole interest in a association in 2004 before sum of a tentative batch charity were announced, avoiding a $750,000 detriment on a holding., a hunt program company, has given altered a name to Copernic and been purchased by Constellation Software (CNSWF).

Cuban was a largest particular shareholder in during a time he was contacted by a company’s CEO and told a association dictated to sell some-more shares to lift funds.

According to justice documents, Cuban became indignant and pronounced he against a sale since it would intermix his 6% stake. But he afterwards pronounced “Well, now I’m screwed. we can’t sell.” However, Cuban sole his whole interest of 600,000 shares of a association immediately after removing some-more sum of a designed batch sale from a company’s financial advisers.

Related: The gray art of not utterly insider trading

Cuban argued in justice that while he was taboo from disclosing a skeleton for a stock

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