William L. Pegg, Jr.

14 Feb 2011 02:12 pm

Bankruptcy is a legal term to describe the situation when a person or business is unable to pay off its outstanding debts. It is a legal declaration that there is no possible way to pay off the creditors.
Filing for Bankruptcy  is a difficult decision for anyone to go through both economically and emotionally. Hiring the [...]

14 Feb 2011 01:32 pm

What Could You Do with the U.S. Debt of $14 Trillion?
1. Buy 3,824,812,630 Super Bowl XLV tickets.
2. Give $45,068.58 per person in the U.S.
3. Just about the entire annual output of the U.S.
4. The U.S. defense budget for the next 20 years.
5. Buy up 58 million homes.
6. Purchase 400 of the country’s largest companies.
The nation’s [...]

09 Feb 2011 01:44 pm

Japan increased its public debt by 1.1% further escalating its total public debt of Y919.151 trillion at the end of last year, equivalent to 194% of Japan’s nominal gross domestic product for the fiscal year ended March 2010.
Both Europe and the USA are also facing record braking deficits raising serious concerns about the strength of [...]

01 Feb 2011 02:42 pm

The idea of giving states the option to file for Bankruptcy in order to escape ballooning deficits has been raised publicly by Republican former House speaker Newt Gingrich and other conservative thinkers who see it as a way to allow states to escape crushing debt with little damage to taxpayers.
Currently, cities, companies and individuals are [...]

22 Jan 2011 02:13 pm

The U.S treasury is implementing maneuvers aimed at preventing it from hitting the legal debt
limit which is eminent. These actions are only a small step in freeing up new borrowing capacity, which do little to remedy the record high deficit by the USA and also major economic markets such as Japan and in Europe.
About William [...]

09 Jan 2011 02:32 pm

Several new studies are showing that more elders are living with heavy credit card debt and are using their credit cards to pay basic expenses like gas and groceries.
Read study here
It is no surprise that growing numbers of the elderly have or are looking for jobs. A report from the Sloan Center on Aging and [...]

06 Jan 2011 02:47 pm

In a letter to congressional leaders, Geithner said Treasury estimates that U.S. borrowing needs could push the amount of debt past the legal borrowing limit of $14.294 trillion sometime between March 31 and May 16.
Read more: http://money.cnn.com/2011/01/06/news/economy/debt_ceiling_treasury/
About William L. Pegg, Jr. – ATTORNEY AT LAW
Morristown, New Jersey lawyer with over 36 years experience in [...]

06 Jan 2011 02:43 pm

As a new and politically divided Congress prepares to convene Wednesday, the newly muscular Republicans and the White House seem to be on a collision course over whether to raise the federal debt ceiling.
Read more: http://www.foxnews.com/politics/2011/01/04/battle-brewing-federal-debt-limit/
About William L. Pegg, Jr. – ATTORNEY AT LAW
Morristown, New Jersey lawyer with over 36 years experience in the Bankruptcy [...]

06 Jan 2011 02:30 pm

Personal bankruptcies rose to 1.53 million, up 9% from 2009, the highest level since a revamp of the law took effect in 2005, according to the American Bankruptcy Institute, an association of attorneys and other bankruptcy professionals, and the National Bankruptcy Research Center.
Read more:
http://online.wsj.com/article/SB10001424052748704111504576060181631140482.html

About William L. Pegg, Jr. – ATTORNEY AT LAW
Morristown, New Jersey [...]

05 Jan 2011 06:36 pm

MGM has officially emerged from bankruptcy. A press release today from the debt-hobbled studio confirms that after seven weeks the company has been restructured, with $500 million in financing. Spyglass Entertainment heads Gary Barber and Roger Birnbaum will serve as co-chairman and CEOs. No word yet on when the next James Bond movie will restart [...]