Chapter 7 Bankruptcy

The Bold and the Beautiful and the Bankrupt: Hunter Tylo files for bankruptcy in Las Vegas

07/05/11

Soap opera star Hunter Tylo has filed for bankruptcy.  It appears she has some medical debt and from the list of creditors, for more information on her creditors see this article about Hunter Tylo’s bankruptcy.  This case shows like the other celebrity ones that the rich and famous also have money problems.  Read the documents: [...]

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Minnesota charter school Tarek ibn Ziyad Academy shuts down and files Chapter 7 bankruptcy with no assets at all

07/05/11

In a rare filing for a charter school Tarek ibn Ziyad Academy a charter school south of Saint Paul, Minnesota, filed Chapter 7 bankruptcy.  The filing is interesting because it lists no assets at all, not a penny, no furniture, no nothing.  The school has a website but no domain name is listed in the [...]

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You Can Keep Your Car When You File Bankruptcy

07/03/11

You Can Keep Your Car When You File Bankruptcy Although these days riding the bus may be the more green mode of transportation, for many people driving their car is something they cannot do without and in order to be able to truly have a fresh start. Then need to be able to keep their [...]

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Lambuth University in Jackson, Tennessee files for Chapter 11 bankruptcy

07/03/11

I guess this is a great year for bankruptcies, the usual mix of celebrities and corporations now includes a college that has been open for over 150 years.  All is not lost because apparently the State of Tennessee will be taking over the college and reopening it.  The university owes almost half a million in [...]

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What is a straw buyer and what are the consequences? Is this an option to consider if I can’t qualify the home I want?

06/30/11

A straw buyer is a fake buyer set up to defraud the mortgage company.  If an individual cannot qualify for a loan for a particular home, due to bad credit or some other reason, it may seem like a solution to ask a relative or friend to purchase the home and pay them.  However, this [...]

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Obama appeals gay bankruptcy filing, changes his mind on not defending DOMA

06/29/11

Another sign that President Obama is running for re-election is that he now backed away from recent promises to gay rights activists not to defend DOMA the Defense of Marriage Act which reserves marriage for purposes of federal law to one man and one woman. Recently the Bankruptcy Court for the Central District of California [...]

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Credit Card Bankruptcy

06/29/11

It’s no secret that the United States economy has been driven by consumer credit card spending. Credit card companies have spent billions of dollars each year aimed at convincing us to buy on credit. More than a billion credit card offers are mailed out each year in the United States each year. Solicitations often begin [...]

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Filing Bankruptcy Without an Attorney

06/28/11

According to the state bar, 40-50% of Arizona bankruptcy filings occur without an attorney (“pro se” in legalese).  Most individuals who file for bankruptcy are at rock bottom, and do not believe they can afford an attorney, or that it will be necessary to a successful outcome of the proceedings. However, the importance of an [...]

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I Filed Bankruptcy, Now I Want Out…

06/28/11

Dismissing a Bankruptcy Case While bankruptcy has the ability to provide great relief to those facing financial difficulty, it is not always a bed of roses. There are things that can go wrong with a bankruptcy case. Many debtors learn the hard way that bankruptcy can be a messy place once the motions and objections [...]

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Billionaire Bankruptcies?

06/27/11

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was pro-debtor.  The idea was to provide a fresh start for people who had suffered under the [...]

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