Category: Bankruptcy

Potential Bankruptcy Hits the Big Screen: Sinking MGM Gets More Time to Settle Tremendous Debt

On Mach 31st, the once major film studio, MGM, now struggling, with its head barley above water, won a bonus six weeks to pay their off their enormous debt; and consider options including, according to the New York Times, plans to give control to some of its lenders, some major bids (Time Warner and Len […]

What is the Minimum Debt Required for Bankruptcy?

There is no minimum debt required to file for bankruptcy.  Since bankruptcy is a consumer protection program, designed to protect all consumers, the amount of debt required to file for bankruptcy is relative to a person’s ability to pay their debts, or relative to the consumer.  Folks have successfully filed for bankruptcy that were in debt for […]

How to Recover from a Bankruptcy

Bankruptcy is a funny thing.  While it is true that a bankruptcy can negatively impact a person’s credit score in a very bad way, the process of bankruptcy recovery is something that starts as soon as the bankruptcy process is officially over.  In theory, a person can begin the process of improving their credit score […]

Bankruptcy Basics

The word bankruptcy has several negative connotations attached to it. Many people are afraid of the word because they have the idea that it is associated with losing everything they have worked so hard to gain. In reality, a bankruptcy is a form of consumer protection law designed to allow the cancellation or lowering of […]

Avvo: Misleading consumers and lawyers alike

Avvo ranked U.S. Supreme Court Justices Ruth Bader Ginsburg and Samuel A. Alito Jr. with a 6.5, the same rating as a lawyer who is serving a prison term for conspiracy

Bankruptcy Can Actually Improve Your Credit Score

Your high balances are removed as are any late payments or records of unpaid debts