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Debt collector files for Chapter 11 bankruptcy protection

A debt collector in another state has filed for bankruptcy. The bankruptcy filing took place on a recent Sunday. When a company in the state of Massachusetts cannot keep up with its liabilities due to economic reasons, for example, it may find Chapter 11 bankruptcy protection to offer the financial relief it needs.

The debt collector that has filed for bankruptcy entered into an agreement with a holdings company that acquires, manages and services consumer debt portfolios. The latter will therefore assume ownership of the debt collector's asset portfolio. The holdings company has agreed to invest more than $400 million in this process.

Assessing finances important part of divorce

After the decision to get divorced has been made, one of a couple's most common areas of focus is how the marital split-up will impact them financially on an individual level. A major fear is whether or not meeting expenses is possible long term. A few tips may help with navigating the financial aspect of a divorce proceeding in the state of Massachusetts.

First, it is important to have a full understanding of the family finances before commencing with the divorce process. This may mean getting a friend or family member, or even a financial advisor to explain it. An essential part of this process is gathering all information related to debts, assets and accounts, as these details are necessary for making informed decisions during negotiations with a soon-to-be-ex.

Divorce rate increasing among elderly

The rate of the dissolution of a marriage has increased two times for couples over 50 years old in the United States, including in the state of Massachusetts. Meanwhile, the rate has increased a whopping three times for couples over 65 years old. These statistics are based on new research on divorce.

According to the research, divorce is becoming more uncommon for America's young adults. In fact, the rate of marital split-ups dropped by 21 percent over the past couple of decades for couples aged 25 to 39. However, it is increasing for Americans over 50 years old.

Mediation may make divorce process less stressful

The dissolution of a marriage can be a frightening time emotionally and financially. However, mediation, an alternative dispute resolution, can help to make the process more palatable in the state of Massachusetts and elsewhere. Divorce mediation was not heard of more than two decades ago, but it has increased in demand in recent years.

Mediation is often used for tackling disputes involving child visitation and child custody. The spouses can work on a parenting plan that reflects both of their wishes and the best interests of the child. However, divorce mediation can also be helpful for working out financial disagreements, such as those involving the splitting of assets.

HHGregg files for Chapter 11 bankruptcy

Executives at HHGregg, a well-known retailer of appliances and electronics, recently announced the company has filed for bankruptcy. The Chapter 11 bankruptcy filing came a few days after the company's announcement that it was closing of 88 of its stores in 15 different states. If companies in the state of Massachusetts and other states are struggling to stay afloat financially, filing for bankruptcy may be a viable option for them.

HHGregg recently allowed another party to buy its assets. By selling its assets, the company will be able to exit its Chapter 11 bankruptcy without any debt. The company will also experience a major improvement in its liquidity, which will enable the business to be more financially stable in the future.

Child-centered divorce can benefit entire family

March is usually the month with the greatest number of filings for dissolving marriages. Navigating the divorce process can be complicated both financially and emotionally, especially when children are involved. However, a few tips may help parents in the state of Massachusetts to make their divorce child centered.

First, it is important to put a temporary custody order in place. Whatever the living arrangements may be following the divorce filing, it is beneficial to write down a plan for parenting time that details when both parents will get to spend time with the children. This plan can remain in effect until a final order has been reached in the divorce.

Communication important in midst of child custody issues

Divorce is naturally one of the most challenging experiences adults will go through. However, it can easily be one of a child's most difficult life experiences as well, particularly when child custody issues are involved. Some tips may help to make the divorce process easier for a child to cope with in the state of Massachusetts.

Remaining in communication with children who are going through divorce is paramount. Still, it is important to make sure that any conversation held with a child is appropriate for his or her age. It is common for children who are going to school to ask when they will be able to see the other parent.

Divorce involves multiple financial considerations

The process of dissolving a marriage is typically filled with emotional turmoil along with financial upheaval. In many situations, people getting divorced feel as though they must reinvent themselves both emotionally and monetarily. A few tips may help with the financial side of divorce in the state of Massachusetts.

First, reviewing beneficiaries is critical following divorce. Changes may need to be made to beneficiary designations associated with 401Ks, pensions and other types of estate-planning documents to ensure that an ex-spouse or his or her family members are not named beneficiaries. If these designations are not updated, these assets may end up in unintended hands.

Gander Mountain ready to file for Chapter 11 bankruptcy

Gander Mountain, which sells camping, fishing and hunting gear throughout the country, is getting ready to file for bankruptcy protection. The possible Chapter 11 bankruptcy filing comes as the retailer struggles to keep up with its debt. Any business in the state of Massachusetts that cannot overcome its debt challenges may find Chapter 11 bankruptcy protection to be beneficial long term.

The retailer, which is privately held, has opened about 60 new retail stores since 2012. It has more than 160 locations in 27 states. The store also operates a catalog business online along with an electronic commerce retail unit.

More women than men make smart money choices following divorce

According to a new survey, 75 percent of divorced individuals who are retirement age do not know enough about how to manage their money. However, women appear to be doing better than men in this area following divorce in the state of Massachusetts and elsewhere. These findings come from the American Institute of CPAs.

In particular, women are two times as likely to pursue jobs and increase the amount of money they save toward retirement compared to men. In addition, based on the survey, women have quadruple the likelihood of improving their spending habits when compared to men. Furthermore, women have a 14-times-greater chance of actively pursuing financial advice following divorce. Still, the spending habits of both women and men were found to be likely to deteriorate after a marital split-up.

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