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 […]
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 […]
Hospitals Continue to Face Bankruptcy
A bad economy affects everyone; small businesses, large businesses, government jobs, government funded programs, everyone. Hospitals are no different. While many people look at hospitals as a public safeguard for our health, many people forget that hospitals are businesses too. And while all businesses need to at least break even to continue operating, a recent […]
The Enron Bankruptcy
The Enron bankruptcy was one of the most controversial corporate bankruptcies in the history on the U.S. Not only was it the largest Chapter 11 bankruptcy of all time (which has since been surpassed by both Worldcom and Lehman Brothers) by clocking in with $63.4 billion in assets but the company’s downfall was due to […]
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 […]
Celebrities Who’ve Filed for Bankruptcy
Celebrities seem to have it all; fame, fortune and extravagant lifestyles. Some celebrities, however, find themselves in financial troubles that they didn’t even see coming. With wealth comes responsibility, some celebrities spend more than they make while others have tragically entrusted their finances to an unreliable or untrustworthy individual. Either way, celebrities are no different […]
The Dangers of Debt Consolidation
Debt consolidators can seem like the answer to all of your financial problems; they roll your loans into one payment, your terms are negotiated and your monthly payment is made more manageable than before. Unfortunately, the down side of debt consolidation is that it can be a poor choice for many individuals and can even […]
A Brief History on Bankruptcy
In Ancient Greece Bankruptcy did not exist. If a debtor could not repay the money he owed, then he, his family and his own servants were forced into “debt slavery” until the creditor recovered the losses through their physical labor. While “debt slavery” is far from the bankruptcy we know, the Greeks did begin to […]
Toni Braxton’s Bankruptcy
Celebrities seem to have it all; fame, fortune, and a fantasy lifestyle. So how is it that some celebrities still file for bankruptcy? There are actually quite a few ways that celebrities can find themselves financially bankrupt. Overspending, cancelled contracts and trusting the wrong people are some easy ways for a famous person to find […]
Filing For Bankruptcy To Save Your Home
If you are currently in the foreclosure process regarding your home, you may have thought about filing for bankruptcy. Most individuals know that if your home is in foreclosure, bankruptcy is a good option to rid yourself or re-organize your debts completely. But did you know that through filing personal bankruptcy, it may even be […]