In the three months up to December 2013, 7,556 American businesses filed for bankruptcy. While this figure seems low compared to the 230,582 non-business filings, it's worth remembering that these companies employed thousands of people, leaving many employees wondering what will happen to their benefit packages. While bankruptcy often means the end of your job, it's not always clear what will happen to your retirement plan. Find out how bankruptcy affects your retirement investment and how the law protects different types of plan.
- Many employees and business partners like to target businesses for easy money, simply because things can get lost under the radar of a business' finances. It may not be until inventory or until your accountant draws up taxes that you notice something is wrong. Here are some common fraudulent schemes, and how you can both avoid them. Asset Misappropriation This is the most common type of fraud in business, accounting for 85% of occupational fraud.
- Getting the diagnosis that you have cancer can be a frightening experience, but it can be even worse if your doctor fails to find it and diagnose it. If your doctor failed you in providing the right diagnosis, or if the diagnosis was delayed, you might be able to sue this doctor for this problem. This type of case falls into medical malpractice, which is a part of personal injury law.
- If you're the defendant in a personal injury case, you may want to avoid going to court at cost. A defendant is the person who causes an accident, and the plaintiff is the person who receives injuries as a result of the accident. As a defendant, your attorney may try to settle your case through personal injury mediation. Personal injury mediation allows you to propose and pay the plaintiff a reduced insurance settlement for his or her injuries.
- If you are in the midst of monetary woes and having trouble paying your debts, you have the option of filing for chapter 13 bankruptcy. This type of bankruptcy provides you with a court-approved plan to repay your debts on a schedule that enables you to maintain a semblance of financial stability. In some cases you may be able to have some debts removed via lien stripping. If you are thinking about filing for a chapter 13 bankruptcy, the following primer can help you understand the lien stripping process.