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Prudent Holding Company’s Pre-Meltdown Chapter 11 Saves Bank
Recently, a bankruptcy filing by a Wisconsin bank holding company was held up by the New York Times’ DealBook blog as a model of prudent and, in fact, innovative management. Typically, when bank holding companies file for bankruptcy, it’s far [...]
Sinbad’s Chapter 13 Do-Over Isn’t From Lavish Living, He Says
David Adkins, the comedian known as Sinbad, filed for Chapter 13 bankruptcy in May, claiming $11 million in debt, the vast majority of which is tax debt. According to documents cited by AccountingWEB, the 56-year-old performer owes over $8 million to the [...]
Bankruptcy — How Soon Can I File Again?
In order to get a discharge in bankruptcy, sufficient time must pass between the filing of two separate bankruptcy cases. So if a bankruptcy case is filed too soon, a discharge may not take place. While there is nothing to stop a [...]
DWI Arrest, Back Child Support Push Rapper DMX Into Chapter 11
Rapper DMX, whose real name is Earl Simmons, filed for Chapter 11 bankruptcy in New York last week, just days after being arrested in South Carolina on alleged drunk driving and driving without a license. DMX is a resident of South Carolina, [...]
Filing Chapter 7 Bankruptcy To Wipe Out Debt — A Sneak Peek Into The Process
Written by Dan Marshall A sluggish economy and mounting debt level have made repayment of loans a back-breaking task for the debtors. Debtors often go through dire financial straits when faced with unforeseen circumstances like undergoing hospital treatment or suffering [...]
In Debt? Don’t Empty Your 401(K) Before Considering Bankruptcy
If a job loss, medical bills or unexpected expenses have got your scrambling to pay your bills, you may have wondered whether it’s a good idea to liquidate your 401(k) account in order to pay them off. Before you take [...]