Joe Francis, infamous chief of the Girls Gone Wild, told TMZ he is “on the brink of bankruptcy.”
The IRS has placed liens against Francis’ property and bank accounts due to more than $33 million in unpaid taxes. They froze bank accounts that Francis said were worth $100 million.
Francis is fighting back, and taking the government [...]
Many people coping with unbearable medical debt turn to bankruptcy for help. If a Rhode Island senator has his way, even more relief will be available.
The Associated Press reports Rhode Island Senator Sheldon Whitehouse proposed a bill that will provide an exception to bankruptcy laws for those who file due to medical bills.
Called the Medical [...]
While the business bankruptcy boom claimed thousands of major corporations, many are now preparing to exit the lengthy process and resume work fully.
Lear Corp., a company that manufactures seats and electronics for automobiles, filed for Chapter 11 bankruptcy four months ago, reports the Wall Street Journal. Now the company may soon emerge from bankruptcy protection [...]
The October numbers are out, and both personal and commercial bankruptcies continue to rise. Experts told CNN and the Wall Street Journal they expect this trend will continue throughout the rest year.
Small businesses are still struggling to survive, as shown in the seven percent rise in business filings last month. Many businesses have been struggling [...]
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, [...]