Out-of-control debt recently dealt an emotional blow to a Nebraska Cornhusker football legend and his memorabilia collection.
Former ‘Husker lineman Aaron Taylor was forced to liquidate seven championship rings and his Outland Trophy to settle his debt after filing Chapter 7 bankruptcy.
Taylor was a star offensive guard for the University of Nebraska football team from 1994 [...]
Capmark Financial – a leading commercial real estate lender – recently filed for Chapter 11 bankruptcy protection in the Delaware Bankruptcy Court, reports the Wall Street Journal.
The move comes as the business property market continues to decline after several slow years. Many
Many U.S. banks have been hurt by losses on commercial real estate loans. High [...]
In order to file Chapter 7 bankruptcy, you must first pass the bankruptcy means test. The means test is tied to the median income in your state.
The median income is the center line of incomes in your state. Each year, the US Department of Justice releases the median incomes to be used in evaluating Chapter [...]
Aggressive growth is catching up to FairPoint Communications.
The Wall Street Journal reports the company is seeking Chapter 11 bankruptcy protection to reduce its debt by two thirds and keep the company from going under.
In 2008, Fairpoint made a series of moves to increase their size and market share. Previously a rural market operator, they acquired [...]
A recent report from The Warren Group, a provider of economic and real estate data in New England, shows that Chapter 7 bankruptcy filings rose by 35 percent in the first three quarters of 2009 compared to the same time period in 2008.
From January through September of 2009, Chapter 7 filings in Massachusetts totaled 11,872. [...]
Charter Communications, a major provider for television cable and internet in many states, will finally be able to finished their bankruptcy filing.
The company filed chapter 11 bankruptcy last March. Although the company is based in Missouri, they filed their plans in New York state. A judge in the Southern district there recently approved their plan, [...]
The investment firm Lehman Brothers Inc. is expected to be one of most expensive bankruptcy cases in U.S. history.
They have hired several different law firms to aid them in the Chapter 11 reorganization and bankruptcy case. Experts are estimating the cost at $800 million to $1.4 billion, the New York Times reported.
So far they have [...]
The Phoenix Coyotes dropped the puck on a new NHL season this week in front of a sold-out hometown crowd and under the spectre of bankruptcy and possible relocation.
Back in May, the Phoenix Coyotes owner Jerry Moyes decided to file bankruptcy protection. The Coyotes have been in Phoenix since 1996, but have failed to be [...]
If you do not meet the means test requirements for filing Chapter 7 bankruptcy, but still need debt relief help, there may be other options available.
Most of these take the form of debt management or debt settlement plans.
Debt management plans typically involve having a third party negotiate lower interest rates and fees for the debtor [...]
This week, a key House of Representatives subcommittee begins to re-evaluate how bankruptcy law treats private student loan debt.
This another part of Washington’s current push to alter bankruptcy laws yet again, however this time the results may benefit of the average person.
Inside Higher Ed reports that Rep. Steve Cohen (D-Tenn.), the chair of the House [...]