Recent Blog Posts
Will I Lose My Cell Phone if I File for Bankruptcy?
Many people realize that filing for bankruptcy comes with some strings. In particular, if you file for Chapter 7 bankruptcy, the trustee can sell your non-exempt property and send the proceeds to your creditor. But does this mean you will lose your cell phone? After all, it is an asset, and those are vulnerable… Read More »
Avoid Cash Advances
People are often pressed for cash. For example, you might need cash to pay a babysitter or to buy lunch. However, taking a cash advance is one of the worst things you can do financially. A cash advance is a loan you take on your credit card. Most cards allow for a cash advance… Read More »
Health Crises Still Drive Many to Bankruptcy
An opinion column in USA Today reminds us that health care costs continue to send millions of Americans to bankruptcy. This might be surprising. After all, the rise of Obamacare and the expansion of Medicaid in many states should have put an end to the health care crisis in this country. But as columnist… Read More »
How to Tell Family and Friends about Your Bankruptcy
Bankruptcy is a public process in the United States. Not only are your court records public, but people can find out about your bankruptcy by doing a background check. Some newspapers also publish a list of the names of people who filed for bankruptcy in that jurisdiction. It’s unlikely that your friends and family… Read More »
Florist FTD Files for Bankruptcy Protection
Founded over 100 years ago, florist FTD is probably best known for its commercials informing the public that they can ship flowers to loved ones on Mother’s Day or any other special occasion within 24 hours. FTD works by having a network of florists around the country who live near the intended recipient, thus… Read More »
Lil Kim Asks Judge to Drop Her Bankruptcy Case
Almost a year ago we wrote about rapper Lil Kim filing for bankruptcy protection. Now comes news that she is trying to get her bankruptcy case dismissed because she is apparently in better financial shape. However, as Lil Kim might find, it is far easier to file for bankruptcy than to get a judge… Read More »
Towanda Braxton Files for Bankruptcy with $150 in Her Bank Account
One of the stars of “Braxton Family Values” has filed for bankruptcy protection. According to Yahoo Entertainment, Towanda Braxton file for Chapter 7 bankruptcy protection earlier this month. Her court filings reveal that she has over half a million dollars in debt–$547,056.39 to be exact. Unfortunately, her assets only total about half that much,… Read More »
Most Common Reasons People File for Bankruptcy
A common misperception is that people who file for bankruptcy do so because they have “blown” money for years and their spendthrift ways have finally caught up with them. Think ritzy trips to Vegas, gambling addictions, and expensive vehicles. However, the reality is far different. The Motley Fool published an excellent article recently reminding… Read More »
Pot and Bankruptcy Don’t Mix
Florida continues to slowly embrace marijuana. It is currently legal to use marijuana if you have a prescription to treat a medical condition, and dispensaries are popping up across the state to fill those scripts. Currently, the state has not decriminalized the drug for recreational use, though that could be on the horizon. Indeed,… Read More »
Is Bankruptcy the Right Choice for You?
Many people begin thinking about bankruptcy as an option only after they have accounts go into collection and it becomes blindingly apparent that they cannot service their debt load while paying other bills. When faced with the choice of paying off a credit card or going without food, most consumers realize that there is… Read More »