We Have a Million Dollars of Debt and Need to File Bankruptcy. – Ruthie

“Dear Lewis, Our income is 18,000/month, secured debt (mortgages) is $1,050,000, Unsecured debt (credit cards, personal loans, medical bills) is 270,000. We have a single family home assessed 707K and multifamily assessed 575K that we need to keep. We’re a family of 5 w/3 dependents. We earn too much income to file Chap 7 and … Read more

Blockbuster Going Bust. Bye-Bye Blockbuster?

I can remember life before Blockbuster and soon maybe life without Blockbuster. According to reports, Blockbuster is filing for bankruptcy in September. Blockbuster is hoping to use its time in Chapter 11 to restructure a crippling debt load of nearly $1 billion and escape leases on 500 or more of it 3,425 stores in the … Read more

I Can’t Pay Sallie Mae – Carlos

Carlos “Dear Steve, Sallie Mae loaned me $10,537.50 on 08/31/1994. I started making payments on it in 2003. Have been in forbearance three times. I have already paid about $7,000 on this loan. he loan is on forbearance until 03/07/2009. Because of financial hardship I wanted to settle with Sallie Mae for $4,000. Total Principal … Read more

I Owe $100,000 in Student Loan Debt And Might Have to Leave the U.S. My H-1B is Expiring. – Venkat

“Dear Steve, I have been in US from 2002, I have been working full time from 2004. I have been working on my part time MBA from a Top business school from 2008. I am on currently on a H-1B visa now. The green card is no where in sight. I have minimum credit card … Read more

Chapter 11 Bankruptcy Irony – TVI Corp

In what struck me as a moment of irony, I read this morning about TVI Corporation, a Maryland based manufacturer of disaster shelters and other protective equipment, that has filed for Chapter 11 bankruptcy protection. It seems that while they manufacturer many types of disaster shelters, they didn’t have one to protect them from financial … Read more

Are Muzak and Sirius XM Radio, Better Than You?

I was reading the latest news about the bankruptcy filing of Muzak, the elevator music people, and the new merged company of Sirius XM, the satellite radio people. Sirius XM has not filed Chapter 11 bankruptcy just yet but it looks like they will any day now. It has always struck me as odd that … Read more

I’d Like to Get Rid of My Student Loan Payments With Bankruptcy. – Nancy

“Dear Steve, I will never be able to pay my sallie mae student loan because of hardship. I am a single mother of two living check to check. I want to see how I can have my student loan discharged? Can I file bankruptcy myself? Nancy” Dear Nancy, It is very difficult to get student … Read more

Value City. Gone.

Our business strategy is quite simple. We fill our stores with a wide assortment of designer, department, discount and specialty store deals at prices substantially lower than competing department and discount stores. We use our buying expertise to drive down prices and then pass the savings on to you, the customer. You never know what … Read more