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 [...]
Bankruptcy proceedings form a vital part of America’s economic safety net, and the case of B. Scott Spurlin and Debra Fogleman-Spurlin of Baton Rouge, Louisana, shows that any suspected abuses of that safety net are taken very seriously by the government.
The Alexandria Town Talk newspaper is reporting that the Spurlins have been indicted on charges [...]
Tavern on the Green is landmark restaurant for locals and tourists alike. For many years, this New York restaurant, located in Central Park on the Upper East Side, has been one of the top grossing eateries in the city.
But the salad days may be over for this famous restaurant. On Sept. 9th, Tavern on the [...]
Gambling may seem like one of those recession proof industries: A place where people turn to in hard times in hopes of making a quick buck.
But these days no business is safe, not even betting establishments supported by the state government.
The Off Track Betting Corp. in New York is the first of these to file [...]
Not even the country’s richest families have been able to ward off the effects of the recession. They’re ringing up plenty of debt and turning to more expensive and more complex methods of reducing their debt according to Bloomberg News, which carries a report based on research released by the National Bankruptcy Research Center.
According to [...]
With so many people struggling with their credit card debt, all kinds of forms of debt elimination tactics are popping up. The methods range from the protected (bankruptcy) to the sketchy (some debt settlement options) to the straight forward (direct negotiation and debt forgiveness).
The Washington Post writes about the rise in credit card modifications. In [...]
Bobbi Giguere requested a mortgage modification from Wells Fargo, her mortgage servicer. She sent the bank the appropriate documents, which would supposedly be used to determine whether or not she was eligible for a modification. All she wanted was a “yes,” or “no.”
According to the New York Times, the answer Giguere received: “Send [...]