Category: Bankruptcy

Famous People Who Have Filed for Bankruptcy Part 3

Kim Basinger 1953- The actress most notable for her role as Lynn Bracken in L.A. Confidential from which she won an Oscar for best actress in a supporting role, experienced great financial success after a string of prosperous movie roles. Due to her successful movie career, Basinger earned enough money to purchase the town of […]

Famous People Who Have Filed for Bankruptcy Part 2

Milton Snavely Hershey 1857-1945 Mr. Hershey, the founder of Hershey’s chocolate had only a 4th grade education, but he was determined to create a good product that the public would want to purchase. Hershey started four candy companies that failed and he filed for bankruptcy. His fifth attempt was what is now the tremendously successful […]

Famous People Who Have Filed for Bankruptcy

Filing for bankruptcy has historically had a negative societal stigma unnecessarily. Even in 2011, when everyone knows someone who has filed for bankruptcy, the fear of what people will think of them, and what their financial future will be keeps many people tied up in disastrous financial situations. Back in the late 1990s, 1% of […]

Why You Shouldn’t File Bankruptcy Yourself

America has become a “do it yourself” culture. Some people feel that it is worth investing the time necessary to learn how to do tasks such as minor car repairs, or home remodeling projects if it saves them a few dollars in the end. There isn’t much harm in a minor interior design flaw, or […]

What Bankruptcy Can Do

Eliminate Your Credit Card Debt As long as your credit card debts are unsecured (meaning that your creditors don’t have any liens on any of your property) bankruptcy is a great way to wipe out credit card debt. If you file for Chapter 13 bankruptcy as opposed to Chapter 7, you may be required to […]

Los Angeles Dodgers File Bankruptcy

Many Los Angeles businesses fear filing for bankruptcy due to the stigma that exists socially after a business declares bankruptcy. In truth, bankruptcy was established to provide relief to a struggling business by either discharging their debts, or configuring a repayment plan to help the business get back on their feet. No business is exempt […]