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Chapter 7 Bankruptcy As a First Option

Commentary: Chapter 7 Bankruptcy As a First Option

If you’ve been battling credit card and/or medical bill debt for a long time, you are not alone. Many Americans are still in debt that they cannot escape. You may have tried or heard about plans to spend less, save more, shift debt, consolidate, or debt counseling and debt...
How the Pasadena Playhouse Survived Chapter 11 Bankruptcy

How the Pasadena Playhouse Survived Chapter 11 Bankruptcy

After being dark for three months, the Pasadena playhouse, established in the 1920’s, made a difficult decision and chose to file for Chapter 11 bankruptcy in 2010; making it the second Southern California arts organization to file for bankruptcy amid California’s strained...
Why Do Some Wealthy People File for Bankruptcy?

Why Do Some Wealthy People File for Bankruptcy?

Celebrities, professional athletes, real estate moguls, oil entrepreneurs as well as groups of lawyers, doctors and business people earn hundreds of thousands or millions of dollars per year. Even if their celebrity or careers are short-lived, we take it for granted that they...
7 Shocking Celebrity Bankruptcies

7 Shocking Celebrity Bankruptcies

Bankruptcy is generally considered the last resort for consumers who irresponsibly maxed out their credit cards or who were forced to file because of a catastrophic injury for which medical insurance was unavailable or failed to provide full coverage. For those bankruptcies that...

What are My Options for Debt Relief in California?

Debt may be a way of life for most of us but it does not have to control our lives. There are options for debt relief that you should consider before you find yourself at risk of being sued and facing eviction, foreclosure or losing your car and other assets. Self-Help Procedures...
What is the Best Type of Bankruptcy for My Small Business?

What is the Best Type of Bankruptcy for My Small Business?

Small businesses startup every day. Unfortunately many of them fail despite the best efforts of its owners. Reasons for their failures are many– lack of resources, too much competition, poor business decisions, lawsuits or overreaching. Regardless of the reasons, many of...
Dealing with Harassment Calls from Creditors

Dealing with Harassment Calls from Creditors

One of the more annoying aspects of falling behind on your debt obligations is dealing with phone calls from creditors or collection agencies. Some creditors begin calling you at 8:00 am and continue if not daily, then several times per week. Many are able to get your work phone...
Resolving Wage Ganishment with Bankruptcy

Resolving Wage Garnishment with Bankruptcy

If you are the losing defendant in a lawsuit where damages are awarded to the prevailing party who now becomes the judgment creditor, some of your assets may be subject to seizure by that party to satisfy the judgment. One commonly used collection method is wage garnishment. Wage...
The 10 Largest Corporate Bankruptcies of All Time

The 10 Largest Corporate Bankruptcies of All Time

We are always fascinated with the largest, fastest or most expensive of whatever subject that interests us. In the financial world, we want to know who is the richest or who has lost the most. When it comes to bankruptcies, the largest ever filed do pique our interest not only...
When Should I File for Bankruptcy? A Checklist

When Should I File for Bankruptcy? A Checklist

Bankruptcy is not a first option if you are facing severe financial difficulties. Before you consider filing, make a list of your debts, amounts owed and monthly payments and see which accounts can be paid off first before concentrating on the others. You might try asking your...