Debtors who file for bankruptcy immediately enjoy some of the unique benefits offered to them under the law. Benefits of filing bankruptcy: Bankruptcy will stop creditors from calling you, sending you letters and prohibit them from demanding payment from you. Even if some of your debts are not legally dischargeable under the bankruptcy law, even [...]
When considering bankruptcy, many debtors only focus on the process; but the most important part of bankruptcy is after the debtor receives their bankruptcy discharge. It is the time after bankruptcy that the debtor is beginning their fresh financial start. So how does a debtor thrive after they receive their bankruptcy discharge? Let's take a [...]
About 75 percent of the people who file bankruptcy wait until they just don't have any other choice. They give various reasons for waiting to file bankruptcy; but below are three of the worse excuses for not filing bankruptcy earlier: Guilt. Guilt is never a good reason for delaying a necessary bankruptcy filing. But many [...]
According to a survey released by Experian, Dallas-Fort Worth ties with Miami-Fort Lauderdale for having the lowest credit score among the top 20 metro areas in the nation. Not only that, but Dallas-Fort Worth ranks No. 2 for having the highest average debt per consumer, right behind Settle. So why is it that Dallas-Fort Worth [...]
Bankruptcy judge Kevin Carey, who is presiding over Tribunes' Chapter 11 bankruptcy case, approved an independent examiner to review the 2007 leveraged buyout of the media conglomerate and the potential claims arising from it that might be brought on behalf of the bankruptcy estate. Tribune, which owns the Los Angeles Times, Chicago Tribune, The (Baltimore) [...]
You pay the minimum payment on your credit card. Paying the minimum payment requirement on your credit card may be a sure sign that you are at credit card default risk especially if you can't afford to pay more than your credit card's minimum payment. You use one credit card to pay the minimum payment [...]
Simon Property Group Inc., which for months was involved in a campaign to acquire General Growth which is in Chapter 11 bankruptcy y, recently withdrew its bid due to a bankruptcy court decision that would make the acquisition too expensive. The plan approved by U.S. Bankruptcy Court Judge Allan Gropper in New York would enable [...]
Movie Gallery Inc. which filed for bankruptcy in February will receive about $74.2 million from liquidation sales, the highest bid at a bankruptcy auction for the video rental chain's inventory. Great American WF LLC's bid was approved today by U.S. Bankruptcy Judge Douglas O. Tice Jr. in Richmond, Virginia. Tice granted Movie Gallery permission to [...]
Bankruptcy Judge Mary Walrath ruled recently that the Washington Mutual Inc. bankruptcy will not be subjected to an investigation by an independently appointed examiner. Shareholders had requested that the bankruptcy court allow an independent examiner to investigate Washington Mutual to determine the value of outstanding legal claims against the bank. But bankruptcy judge Mary Walrath [...]
Freedom Communications Inc., the publisher of many newspapers around the country known for their libertarian views, has finally emerged from Chapter 11 bankruptcy, their debt loand $450 million lighter; but also under new ownership Three investment companies - Alden Global Capital, Angelo Gordon & Co. and Luxor Capital Group - and a group of lenders [...]