2015 Featured News

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Buying a House After Bankruptcy

If you're considering bankruptcy, you don't have to shelve your home buying aspirations for the next decade. In the world of bankruptcy, we call these people "boomerang buyers," and ...
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Chapter 11, the Business Bankruptcy

When a business is struggling to keep its doors open and pay its debts, its owners may decide to file for bankruptcy protection, a Chapter 11 bankruptcy, under the Bankruptcy Code. Chapter 11 ...
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Accruing New Debt While In Bankruptcy

If you're contemplating filing for bankruptcy, one thing that you need to keep in mind is that you're not supposed to accrue any new debt while under the bankruptcy court's supervision. ...
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‘Dance Moms’ Star Accused of Bankruptcy Fraud

Abby Lee Miller, the star of Dance Moms is accused of hiding $775,000 worth of income from the Lifetime network and spinoff projects while her Chapter 11 bankruptcy was pending. Miller's income ...
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Forest Park Medical Center at Frisco Files Bankruptcy

On Sep. 22, 2015, Forest Park Medical Center filed Chapter 11 bankruptcy in federal court. The medical center opened in July 2012, and is located along the Dallas North Tollway in Frisco Square. It is ...
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Required Courses for Bankruptcy Debtors

If you are struggling with crushing debt, bankruptcy may allow you to erase debt or make a plan to repay your debts. A bankruptcy case can be filed by an individual, by spouses, or by a corporation or ...
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Filing Taxes After Bankruptcy

According to the IRS Publication, Bankruptcy Tax Guide, the Bankruptcy Code requires that debtors file an individual tax return, or that they request an extension. If the debtor fails to do this, the ...
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Several U.S. Senators Introduce Law to Kill Zombie Debts

Federal lawmakers have drawn up a proposal that would kill "zombie" debts for credit card debt that's reported after it's been discharged through bankruptcy. Several consumer ...
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Bankruptcy and Federal Taxes

If you are in a financial bind and unable to meet your monthly obligations, there is a good chance that you cannot afford to pay your federal tax debt. For many bankruptcy filers, the inability to pay ...
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Donald Trump Praises Bankruptcy

You may have heard the myths floating around about bankruptcy, some of which may have you concerned about taking the plunge. If you're not sure about what to do, it seems like Donald Trump may be ...
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US Officials: Puerto Rico Should Be Allowed to File Bankruptcy

On July 28, 2015, U.S. Treasury Secretary Jacob Lew said that creating a path that would allow Puerto Rico to file for bankruptcy as soon as possible would help the U.S. territory recover from its ...
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Bankruptcy Basics

Debt is a slippery slope that can cause a great deal of emotional and financial stress. It can affect sleep, productivity, and family relationships. The good news is that bankruptcy can help people ...
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Michigan-Based, Olga’s Kitchen Files Bankruptcy

Troy-based Olga's Kitchen Inc., the restaurant chain known for its Mediterranean-inspired gyros such as the "Original OLGA," signature sandwiches, hand-tossed salads, and snackers, has ...
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Should You Swear Off Credit Cards Forever?

If you're like a lot of people, you may want to include thousands of dollars of credit card debt in your bankruptcy. Once the bankruptcy is over, you should swear off credit cards forever, right? ...
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New Bill Seeks to End Tuition Clawbacks

When parents file for bankruptcy after they have paid their child's college tuition, they may face scrutiny from bankruptcy trustees who contend that the money should have gone towards paying ...
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Which Comes First, Divorce or Bankruptcy?

With money problems being a leading factor in divorce, it's not surprising that bankruptcy and divorce often go hand-in-hand. When it comes to filing for bankruptcy and divorce, which one comes ...
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Bankruptcy Judge: General Motors Shielded From Billions in Death and Injury Claims

On April 15, 2015, a federal judge in Detroit ruled that a 2009 bankruptcy order shields General Motors from billions in personal injury claims stemming from defective ignition switches in older, ...
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Streetwear Clothing Company, Karmaloop Files Bankruptcy

Karmaloop, a multi-platform web retailer based out of Boston has filed for bankruptcy. After being weighed down by millions in debt, the popular streetwear company filed Chapter 11 bankruptcy ...
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Archdiocese Plans to Sell Property to Pay Creditors in Bankruptcy

In January of 2015, the Archdiocese of St. Paul and Minneapolis filed for bankruptcy protection after more than a hundred claims were made by people who said that they had been sexually abused by ...
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The Bankruptcy Discharge

If you are contemplating filing for bankruptcy, during your research you will hear about the bankruptcy "discharge." What is a bankruptcy discharge and what does it do? A bankruptcy ...
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