Topics: Bankruptcy - 55 results

Legendary songstress Dionne Warwick on Mar. 21 filed for bankruptcy in federal court in New Jersey, where she lives, hoping to end a decades-old battle with the Internal Revenue Service over her tax debt.   No Other Choice Warwick is reportedly blaming a former manager for “negligent and gross financial mismanagement” resulting in the tax mix-up that left her $10.2 million in the hole with the IRS and the State of California. Over the years, the singer was paying off …

Debtors going through bankruptcy can boost their chances of a successful outcome with one simple step, according to a new study: apologize. Judges are more likely to look favorably on a repayment plan and accept discretionary spending budgets if the person filing for bankruptcy says they’re sorry, University of Illinois law professors Jennifer K. Robbennolt and Robert M. Lawless found in their research. Apologies have been shown to improve outcomes in criminal and civil disputes, but there had been little …

Known by many names – short-term loan, check-cashing, or payday loan businesses – companies that provide very-high-interest loans to consumers are not regulated in the same way as banks. But in New Mexico, one such company has found itself in hot water with the state.    Business As Usual Three years ago, the New Mexico Attorney General’s office accused FastBucks of violating the state’s unfair business practice law by ripping people off with its high-interest loans, which can reach almost …

The U.S. Senate is considering a law that would allow consumers to discharge private student loans through bankruptcy, a measure that could bring relief to untold thousands who are drowning under oppressive college debt. “Too many Americans are carrying around mortgage-sized student loan debt that forces them to put off major life decisions like buying a home or starting a family,” said U.S. Senator Dick Durbin, one of the bill’s sponsors. “It’s not only young people facing this crisis, it …

Casey Anthony, who was acquitted in 2011 for the murder of her daughter Caylee, has filed for bankruptcy in Florida, citing debts of nearly $800,000. Anthony, 26, lists only $1,084 in assets against the massive sum she owes, mostly in legal fees. She was accused of killing her two-year-old in 2008 with chloroform and duct tape, and then dumping the body in the woods. Her defense attorney, Jose Baez of the Baez Law Firm, argued that the baby had drowned …