Tag Archives: bankruptcy

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 …

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 …

Gary Busey has closed his bankruptcy case, but he still owes about $450,000 in back taxes, a reminder that certain types of debt are not dischargeable in bankruptcy. The actor, famous for his maniacal grin and roles in cinema classics like “Lethal Weapon,” “Point Break,” “Under Siege” and “Universal Soldier II: Brothers in Arms,” did manage to eliminate about $50,000 in other debts he had hanging over his head owed to utility companies, banks and doctors. Busey, with dozens of …

The holiday season is upon us, a time for sharing meals with friends, family and loved ones, and for some, exchanging expensive gifts. But debtors beware: Consumers who enter into bankruptcy proceedings in the next six months may end up turning over any cash or gifts they receive to their creditors, and big gifts could even affect what kinds of bankruptcy people are eligible to file. The bad news, right off the bat: When filing for any form of personal …

Former football star Warren Sapp is seeking a reduction of the $2,500 per month he shells out in child support for one of his children. Sapp, who made over $82 million in his career as a defensive lineman for the Tampa Bay Buccaneers and Oakland Raiders, declared bankruptcy earlier this year in Florida and is crying poor to try to get his payment reduced. However, there’s a fly in the ointment: Sapp signed a 2001 support agreement with Angela Sanders, …