Luxury homeowners aren’t exempt from the debt, financial struggles, and mortgage pains that can plague ordinary homeowners. On July 1, 2013, Peter Loftin filed for Chapter 11 bankruptcy through Casa Casuarina LLC, the company that owns the famed South Beach mansion. In an attempt to prevent foreclosure, Loftin filed for Chapter 11 with the help  … Read more

Did you know that thousands of people begin the process of filing for bankruptcy every day? Unfortunately, because of the negative social stigma that’s associated with filing for bankruptcy, many Americans don’t consider the process, even if it’s in their financial best interest. The truth is that bankruptcy is a powerful tool to help debtors  … Read more

Historic. Unprecedented. Ginormous. Jefferson County in Alabama has just filed a 101-page plan in an attempt to cut the county’s $4.2 billion debt by over $1.2 billion, thereby exiting the largest municipal bankruptcy in American history. While Detroit has made headlines in recent weeks because of the city’s mounting debt, the city’s situation is minute  … Read more

This week in bankruptcy news: The technology age has pushed another industry into financial insolvency. Suffering a continued drop in demand for printed textbooks, publishing mogul Cengage Learning Inc. filed for Chapter 11 bankruptcy this week. Also this week, updates in the Casey Anthony bankruptcy case report that a judge dismissed a key creditors claim;  … Read more

Hostess made headlines in 2012, when it was announced that the historic snack-maker would file for bankruptcy. An American icon, Hostess is perhaps best known for its Twinkies, a cream-filled snack that has been a favorite for generations. But in November 2012, Hostess announced that, due to financial and economic challenges, the company planned to  … Read more

This week in bankruptcy news: a recent study reveals that medical bills are the top cause of bankruptcy filings in the United States. Meanwhile, a subsidiary of the worlds largest drug manufacturer Pfizer may wrap up a historic nine year bankruptcy case that is set to resolve a record number of asbestos related claims. Read  … Read more

College graduates across the nation know how difficult it is to discharge student loan debt through bankruptcy. Qualifying to have your student loan debt discharged is so difficult that it’s actually become a bankruptcy myth that student loan debt is exempt from bankruptcies altogether. However, the case of Michael Hedlund may have set a new  … Read more

This week in bankruptcy news: The year long bankruptcy case for Kodak is finally coming to an end as the newly restructured company offers up equity shares to creditors. Meanwhile, the highly publicized Casey Anthony bankruptcy case is driving threats of her disappearance if the media circus continues to surround her financial problems. Read the  … Read more

Exide Technologies Inc., one of the premier manufacturers of car and truck batteries, has filed for bankruptcy protection through Chapter 11. Filing bankruptcy for the second time in a single decade, Exide cited Wal-Mart’s decision to stop buying their batteries as a major contributor to their financial struggles. Exide claimed assets totaling $1.9 billion and  … Read more

This week in bankruptcy  news: Patriot Coal workers are planning a labor strike as retaliation for the consideration of cutting union contracts in the company’s restructuring efforts. A 10-year  long battle in court ended with a landmark decision of student loan debt discharge, which could pave the way for bankruptcy reform. Read the full stories  … Read more