Category Archives: Bankruptcy News

A recent survey has found that the poor economy is causing the credit ratings of individual Americans to sink to all time lows. As of late April, more than 25% of Americans have a FICO score below 599. Paradoxically, the number of people with perfect scores of 800-850(sounds like the SAT, doesn’t it? ) has […]

Former Jacksonville Jaguars quarterback Mark Brunell has filed for bankruptcy, according to an article by Texas law firm Allmand and Lee. It appears that Brunell has filed under Chapter 11 of the bankruptcy code, listing $5.5 million in assets and $24.7 million in debts. Brunell has earned more than $50 million in his sports career, […]

If you have been thinking about doing business with one of those “debt-relief” firms that are advertising everywhere lately, you really need to read this New York Times article first: “Peddling Relief, Firms put Debtors in a Bigger Hole.” If you are looking instead for real solutions, give me a call instead (if you live […]

An interesting case emanating from the western states involves a court clamping down on Wells Fargo for illegally violating the bankruptcy court’s automatic stay protections in many consumer Chapter 7 cases. A recent ruling from a bankruptcy appellate panel in the Ninth Circuit, which covers most of the West, found that Wells Fargo was obtaining […]

Just before adjourning for their summer recess last month, the United States Supreme Court issued its decision in another bankruptcy case on its docket — and this one might be of some benefit to consumer debtors down the line. In Hamilton v. Lanning, the Supremes took on issues concerning the dreaded “means test” that nearly […]

Here’s a quick rundown of some of the latest trends from the world of bankruptcy and debt, compiled by syndicated columnist Ylan Q. Mui of the Washington Post: The number of late payments on credit cards dropped to a six month low in March. Over $100 billion in credit card debt has been slashed in […]

The Associated Press has come out with a new poll showing that 46% of Americans are experiencing a significant level of stress caused by too much debt. Families with total incomes under $50,000 per year have seen a sharp increase in their stress levels, although only a very small increase in actual debt levels. For […]

If you are having a tough time financially, file this in the “misery loves company” folder. Actress and bon vivant Lindsay Lohan apparently owes $600,000 on her credit cards and can’t even pay her rent. Add to that a reported drug abuse problem and a decline in demand for her acting services, and the outlook […]

The Texas Rangers filed for bankruptcy on Monday, making them the only current major league baseball franchise  seeking court protection from creditors. The Chapter 11 filing was pre-planned, seemingly with the intention of clearing the way for a sale of the team to a new ownership group that includes former Ranger and Hall of Famer […]