Tag Archives: bankruptcy


Posted 1 year ago in Bankruptcy Creditor/Debtor Frauds & Scams by Josh Crank  
Real Housewife Facing 50 Years in Prison for Fraud Scheme

Could Teresa Guidice become the first star of The Real Housewives of New Jersey State Corrections? Unless they cut a deal with prosecutors, Guidice and her husband Joe could both end up behind bars for up to 50 years. A federal grand jury hit the reality TV couple with a 39-count indictment that includes charges of conspiracy to commit mail and wire fraud, bank fraud, bankruptcy fraud and making false statements on loan applications. According to the indictment, the Guidices …

Read More Leave a Comment

Detroit Bankruptcy Likely To Rob Retirees of Pension Benefits

The bankruptcy of Detroit could have devastating consequences for thousands of retired city workers who depend on their pensions for food and shelter. After years of speculation the city filed last week under the rarely-used Chapter 9 of the federal bankruptcy code governing municipal insolvency. The city owes $18.5 billion in debt, of which $3.5 billion is an unfunded pension liability. As part of the bankruptcy process officials hope to enact significant cuts to the benefits of 21,000 retired public …

Read More Leave a Comment

Posted 1 year ago in Bankruptcy by Michele Bowman  
Sly Stone’s Former Production Company Goes Bankrupt

After the former front man for late-60s and 70s supergroup Sly and the Family Stone sued his former manager for tricking him into signing away his royalty rights, the manager is now putting Stone’s production companies into bankruptcy.   Long Story It’s been a parade of legal woes for Stone, whose real name is Sylvester Stewart. The IRS came after him in the 80s and put a lien on his income, taking most of the royalties from his hits for …

Read More Leave a Comment

Posted 2 years ago in Bankruptcy Consumer Law Creditor/Debtor by Betsy Kim  
Going for Broke: US Bankruptcy Filings [Infographic]

Lawyers.com reported earlier today that singer Dionne Warwick recently filed for bankruptcy, due to a $10.2 million tax debt with the state of California and the IRS. But as to the overall country, bankruptcies are down, comparing 2012 with the prior three years. The Start Fresh Today infographic below also shows important upcoming dates for federal bankruptcy exemptions, new regulations on student loans and revisions to bankruptcy forms. Warwick filed for bankruptcy in New Jersey. Can you guess the states …

Read More Leave a Comment

Big Names Gone Bankrupt in 2012

The Great Recession has altered the consumer landscape, forcing such familiar retailers as Borders, Circuit City and The Sharper Image into bankruptcy. And anyone who’s tried to buy a Twinkie in the last few weeks knows that 2012 was another tough year on household names. Slowly but surely, though, things are looking up. Based on the latest available bankruptcy figures, 2012 was on pace to have the fewest new bankruptcies of any year since the crisis began in 2008, according …

Read More Leave a Comment