Central Falls Declares Bankruptcy
As the recession rages on, bankruptcies are becoming more common than retirement funds. While personal bankruptcies can set a family back financially, imagine the setbacks an entire city would face. The small town of Central Falls, Rhode Island, is facing that very question now, as it has promised almost $80 million in retirement benefits to […]
Famous Corporate Bankruptcies
As both consumer and business bankruptcies continue to flood our economy, it’s no wonder that our recession has been a long and drawn out one. Corporate bankruptcies always seem to be the most shocking, as Americans tend to think that large companies are invulnerable to the financial struggles of small business owners and consumers. Some […]
Social Media Sites and Bankruptcy
Social Media sites have changed more than just the way we socialize. Sites like Facebook and Twitter have recently helped given leads on wanted individuals and have assisted in arrests. Not only have law enforcement turned to social media to help unveil the secret lives of persons of interest, but lawyers are now using the […]
Filing For Bankruptcy After A Serious Injury or Illness
If you have suffered from a recent injury or illness and have received medical bills in the mail, you know how financially devastating they can be. Medical treatment is not inexpensive, and when considering that of a serious injury with ongoing treatment, your finances can go from great to nonexistent in a matter of only […]
When Caring For Your Parents Leads To Medical Bankruptcy
There comes a time in every individual or couple’s life wherein the tables are turned, and it becomes a time to take care of your parents. Whether your parents are within an assisted living center, a full time nursing home or if you are personally caring for them within your own home, the task can […]
LA Dodgers File for Bankruptcy
The current recession has taken its toll on many families and businesses, forcing thousands to file for bankruptcy. Why, then is it so surprising that a professional baseball team could find itself in a similar financial crisis? Many people were shocked to find that the Los Angeles Dodgers are entering a Chapter 11 bankruptcy as […]
Buying A Home After Filing For Bankruptcy
It’s true, that many individuals believe that once they file for bankruptcy they will never be able to qualify for a home loan again. Individuals also believe that should there be a chance that they could qualify, it would take ten to fifteen years before they could even try. We are about to blow your […]
Former Billionaire files for Bankruptcy
Many people are shocked to find out that millionaires also run into financial troubles, so you can imagine the astonishment when billionaire Patricia Kluge filed for bankruptcy. Kluge, a british-born former model was once married to the richest man in America, John Kluge, who topped the Forbes 400 list in 1989 with his fortune of […]
Bankruptcy on the Rise
With the unemployment rate steadily rising and more and more people losing their homes and savings, it’s no surprise that bankruptcy is also on the rise. The numbers, however, are still a bit shocking. More than 1.5 million people filed for bankruptcy in the U.S. in 2010, a nine percent increase from 2009. The increase […]
Bankruptcy Questions and Answers
Bankruptcy is happening more frequently in today’s economy, and should not be an act of any shame or guilt. Businesses and individuals choose to file for bankruptcy in an attempt to regain their financial futures, and rid themselves of financially devastating and overwhelming debt. It is often a good decision not only for you, but […]