Blog Posts in 2012

  • 30-Nov-2012

    After Mediation Fails, Hostess Again Asks Judge to Authorize Liquidation

    Hostess Brands Inc. made international headlines when, after negotiations with the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union failed again, they announced that Hostess was closing its doors and going out of business. ...
  • 29-Nov-2012

    Parents and Grandparents Being Bankrupted by Student Loans

    When a student wishes to attend college or university it is not uncommon for them to take out a student loan in order to help pay for their tuition, books and other school-related expenses. Since most of these new students are recent high school ...
  • 28-Nov-2012

    U.S. Funded EV Battery Maker Files for Bankruptcy

    A123 Systems, Inc. is a U.S. based company that makes lithium ion batteries for electric vehicles. As part of the Clean Energy Program, the EV battery maker was able to apply for and receive a $249 million dollar federal grant from the U.S. Energy ...
  • 27-Nov-2012

    Former CSI Star, Gary Dourdan, Files for Bankruptcy

    According to reports, actor and former CSI star, Gary Dourdan filed for bankruptcy protection earlier this year on the same day he filed an injunction in an effort to prevent Wells Fargo bank from auctioning off his home and property. Court documents ...
  • 8-Nov-2012

    Creditor Harassment: Put an End to It

    While bankruptcy can have many benefits, possibly one of the most advantageous facets of filing for either Chapter 7 or Chapter 13 bankruptcy is that creditor harassment can be put to a stop. No one deserves to be called relentlessly until they pay ...
  • 31-Oct-2012

    Student Loans Not Automatically Discharged in Bankruptcy

    When most people think about filing for bankruptcy, they are under the misconception that the bankruptcy will discharge all their outstanding debts. That is not necessarily true. There are a variety of debts which are not automatically discharged as ...
  • 22-Oct-2012

    Top 5 Reasons for Bankruptcy in the U.S.

    With increasing financial hardships related to the American economy, there have been a number of individuals filing for bankruptcy. Previously seen as a more drastic measure, bankruptcy has become a much more accepted practice that can prove to be ...
  • 17-Oct-2012

    Not All Serious Debt Issues Lead to Bankruptcy

    Bankruptcy is only one of many options available to anyone who has found themselves buried under a mountain of debt. The option you choose, however, strongly depends on your existing financial situation. Bankruptcy is not for everyone. That is why it ...
  • 21-Sep-2012

    GM on Track for a Second Bailout?

    According to a report released by Forbes magazine, it would appear that General Motors will be seeking a second bailout in the near future. The magazine pointed out that the company is once again losing market shares and that it is unable to develop ...
  • 7-Sep-2012

    Project L.I.V.E. to Provide Foreclosure Assistance

    As part of the Detroit Rescue Fund, the non-profit program is established to provide assistance with financial literacy and housing counseling to those in the Detroit area. It is funded by the Department of Housing and Urban Development. They hold ...
  • 24-Aug-2012

    Wayne County Holds Auction for 22,504 Homes

    Next month a record of 22,504 properties are going up for auction. These properties foreclosed due to unpaid taxes and are a true testament to devastating effects from the real-estate crash. In the past three years, Wayne county has foreclosed on ...
  • 10-Aug-2012

    Olympic Families Dealing With Bankruptcy

    According to The Wall Street Journal, even those who are successful athletes have financial struggles. Recent Olympic Gold Medalist, Gabby Douglas, is known for her talent and passion for her gymnastics, but it came at a cost. Paying for this level ...
  • 9-Aug-2012

    Tips Before Filing Bankruptcy

    In order to determine if bankruptcy is really the best choice for you particular financial situation, you must consider certain factors. It is advantageous to fully investigate all of your options by doing your homework. Here are a few steps to take ...
  • 1-Aug-2012

    Elderly Americans Facing Foreclosure

    Unfortunately with the continuance of what is being called The Great Recession in the United States, more and more people are losing their homes. It has been calculated that out of all the people who have lost their homes, more than 1.5 million of ...
  • 9-Jul-2012

    Former Mayor's Sister Files Bankruptcy

    Ayanna Kilpatrick, the sister of Detroit's former Mayor Kwame Kilpatrick has filed for Chapter 7 bankruptcy protection. Some of her creditors included Nordstrom, Macy's, Discover and DTE Energy. She owed more than $345,000 to various ...

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