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April 2015 Archives

How does the CARD Act protect consumers?

Nearly six years ago, the Credit Card Accountability, Responsibility, and Disclosure Act, or CARD Act, was signed into law. The goal of the CARD Act was to bring fairness, transparency and accountability to the credit card industry. But how exactly does it help Massachusetts consumers with their credit card debt?

What is involuntary bankruptcy?

Thousands of Massachusetts residents and companies weigh the option of filing for bankruptcy every year. It's a difficult decision, involving not only financial considerations, but emotional and reputational ones as well. However, sometimes the decision to file is in the hands of creditors, not the debtor.

Boston-based Karmaloop files for Chapter 11 bankruptcy

For years, the Massachusetts company known as Karmaloop was the midwife to hundreds of urban clothing startups across the country. Through online marketplaces, it connected the trendiest American apparel companies with eager buyers from around the world. Now, after a series of expansions that perhaps left the company overexposed financially, Karmaloop seeks to reorganize its operations in Chapter 11 bankruptcy proceedings.