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Bankruptcy Information

Dr. Drew Promotes Chapter 7 Bankruptcy for Financial Help

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A good interview about people that lived through financial struggles and came out the other side. One of the guests was a popular television weatherman that found himself in both divorce and bankruptcy. From the interview it sounds as if he had delegated the financial management to his wife and a breakdown in communications impacted more than just their finances. ... Read More »

    Bankruptcy 2010 Annual Report Out. Chapter 7 Still Mac Daddy.

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    The United States Courts just released the complete bankruptcy survey for 2010 bankruptcies. It shows that the majority of bankruptcy filings are for Chapter 7. Here is what the 2010 results show. I’ve highlighted the parts that stood out to me. Summary of Findings During calendar year 2010, more than 1.5 million bankruptcy petitions were filed by individuals with predominantly ... Read More »

      If Bankruptcy is Good Enough for the Los Angeles Dodgers, It’s Good Enough For You


      This morning the Los Angeles filed for bankruptcy in an effort to reorganize their debt. This is yet another example of how business uses bankruptcy to deal with their unmanageable debt but consumers feel shame and stigma when they need to call upon legal financial reorganization for help. According to reports, the Los Angeles Dodgers fell short of income needs ... Read More »

        Gamecock and Former New England Patriot NFL Pro-Bowler Pleads Guilty to Bankruptcy Fraud

        In a bankruptcy case originally filed in 2009 by Rick Sanford, a former USC Gamecock, NFL Pro-Bowler, and New England Patriot, Sanford may face jail time for bankruptcy fraud. It seems his original bankruptcy documents, were a little bit light on real facts. Following the discovery of some missing assets from his bankruptcy filing, Sanford was later charged with bankruptcy ... Read More »

          Jackson Hewitt Tax Services Sheds Overhead. Files for Bankruptcy Protection.

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          Bankruptcy happens to a lot of people. Corporations use it as a smart move in tough times. Today, Jackson Hewitt, the second largest tax preparation company, filed for bankruptcy protection. The largest credit, Bayside Capital, is expected to take over the company. Unsecured creditors should have no funds available for distribution but the company expects to remain in the tax ... Read More »

            We Were Referred to Consumer Debt Defense. What Do You Think? – Danielle

            Consumer Debt Defense

            “Dear Steve, We have much credit card debt- greater than 100,000- we had not defaulted but they kept raising interest rates and minimum payments and now can’t keep up and have fallen behing on taxes. We are going to have to default to save money to pay our taxes this year. We were referred to which is a law ... Read More »

              Bankruptcy Filings Slow Heading Into 2011

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              The latest numbers out from the U.S. Courts shows that while 2010 was a record year for bankruptcy filings, post 2005 reform, 2011 is setting up to be a slower pace. During the last quarter of 2010, which is oddly the first quarter of 2011 for the Judiciary’s records, the number of bankruptcy filings was down by one percent from ... Read More »

                Bankruptcy Filings Way Up. 73% File Chapter 7 Bankruptcy.


                The latest year-on-year bankruptcy numbers are out and nobody should be surprised that bankruptcy filings are way up. In the year ending September 30, 2010 the number of Chapter 7 bankruptcy filings was up 14% and Chapter 13 bankruptcies were up 8%. – Source Chapter 7 bankruptcy cases account for 73% of all consumer bankruptcy cases filed. Now you can ... Read More »

                  Robert Schuller’s Crystal Cathedral Megachurch Goes Bankrupt

                  Crystal Cathedral

                  I remember watching Robert Schuller years ago on his weekly television program, “The Hour of Power” from his California megachurch called the Crystal Cathedral. Now the church is scrambling to overcome financial problems. On October 18, 2010 the ministry filed for bankruptcy protection. It seems a whole lot ironic that the argument against bankruptcy by some is somehow that it ... Read More »

                    Debtors’ Prison, Why Creditors Don’t Care if You Repay Your Debt, and Bankruptcy – The Get Out Of Debt Guy Show

                    On today’s show I talk with Dr. Louis Hyman, an expert in the history of debt. Not only was it great talking with him but we chatted just as long off the air. This is one guy you’ll be hearing more from in the future on this show. We talked about the history of debt, why budgets are flawed, a ... Read More »

                      Thank you For The Site And Your Help. – Lisa

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                      I received the following email from one of our site follower friends. Thank you Lisa for the update and sharing your opinions, experience and inisght. With the help and encouragement of your site, we have filed Chapter 7 and been discharged, thanks so much!! I just wanted to say thank you for being there and for this blog. Last year ... Read More »

                        Chapter 7 Bankruptcy Filings Up 25 Percent

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                        Bankruptcy filings overall rose 20 percent in the 12-month period ending June 30, 2010, according to statistics released today by the Administrative Office of the U.S. Courts. A total of 1,572,597 bankruptcy cases were filed in federal courts in that period, compared to 1,306,315 bankruptcy cases filed in the 12-month period ending June 30, 2009. This is the highest number ... Read More »

                          Filing Bankruptcy Myself. DIY Bankruptcy Information. Pro Se Bankruptcy Videos.

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                          I recently came across the following court videos for filing bankruptcy yourself and thought they were exceptionally truthful, informative, educational, and beneficial for everyone considering filing bankruptcy without an attorney or pro se. The videos apply to a bankruptcy district in North Carolina but they exemplify the potential pitfalls or problems people can face when attempting to represent themselves without ... Read More »

                            I Sit Down With a Bankruptcy Attorney and Talk About Filing Bankruptcy – Get Out of Debt Podcast

                            Here is the latest Get Out of Debt podcast. I had the opportunity to sit down with Jeff Jackson, a bankruptcy attorney from Ohio and talked about many different aspects of bankruptcy including: The fear of approaching a bankruptcy attorney. Common questions and concerns when people are considering bankruptcy The benefits of bankruptcy to stop debt collections, lawsuits, and wage ... Read More »

                              Supreme Court Rules in Favor of Chapter 13 Bankruptcy Debtors

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                              In a case before the Supreme Court the Court today issued their opinion favoring the debtor in this case. In HAMILTON, CHAPTER 13 TRUSTEE v. LANNING the bankruptcy trustee, Hamilton, a private trustee objected to the monthly payment the debtor, Stephanie Kay Lanning, stated she could reasonably afford to pay. The trustee had followed a mechanical calculation to determine the ... Read More »

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