Tag Archives: Bankruptcy

You Deserve a Fresh Start in 2014

The New Year is a good time to evaluate your financial house and consider whether getting a fresh start by filing bankruptcy is the best option for you. If you have too much debt or feel like you are way … Continue reading

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Detroit Bankruptcy – Pensions Aren’t Protected From Cuts

Retirees like Gwendolyn Beasley, 67 years old, who worked 34 years for Detroit as a library clerk has an annual pension of $13,085. Ms. Beasley’s pension could be decimated in the very near future. A judge declared Detroit eligible for … Continue reading

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Rapper DMX files Bankruptcy

DMX (Born Earl Simmons) filed for Chapter 11 bankruptcy due to poor financial management. The Chapter 11 petition lists less than $50,000 in assets and $1 million to $10 million in debt. The New York native owes $1.24 million in … Continue reading

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What happens in a Chapter 7 bankruptcy case?

Chapter 7 bankruptcy cases are usually straightforward. On rare occasions, complications arise if creditors take aggressive action, if the trustee thinks you are hiding assets, or if you want to challenge creditors’ claims. Who can file? Any individual who lives … Continue reading

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Is Bankruptcy the Right Choice for You?

1. Bankruptcy may be the easiest and fastest way to deal with all types of debt problems. Bankruptcy is a process under federal law designed to help people and businesses get protection from their creditors. 2. Most bankruptcy cases are … Continue reading

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US Postal Service on the Brink of Bankruptcy

US Postmaster General Patrick Donahue issued a plea to Congress today: Take congressional action now to help the Postal Service avoid financial collapse.“The Postal Service is at the brink of default,” Donahue warned at a hearing before the Senate Committee … Continue reading

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