Gabby Douglas has won two gold medals on behalf of the United States in the 2012 Olympic games. While she has been working to win her athletic competition, her mom has been working hard to win the fight against financial hardship and the threat of foreclosure. Fighting To Win Debt is an all consuming problem,  … Read more

Former Texas Ranger Jose Canseco filed for bankruptcy protection in Nevada this week. Once one of the most sought after Major League Baseball players, Canseco has found himself in financial trouble; reportedly owing the IRS half a million dollars. Strike Out Jose Canseco held the 1986 Rookie of the Year and 1988 MVP titles in  … Read more

Lon Morris College is the oldest junior college in Texas. Offering core curriculum classes in many subject areas, the college now faces the threat of closing its doors to some 350 local students. However, efforts are being made to save its educational operations by resolving its debts in Texas bankruptcy court. Learning A Lesson In  … Read more

For quite some time there have been talks of the United State Postal Service filing for bankruptcy. As the longest running agency in U.S. history, the postal service was once one of most desired employers with their generous benefit and pension programs. However, as technology advances and the economy waivers, the USPS has struggled to  … Read more

When American Airlines filed for bankruptcy earlier this year it shook the industry and many local economies. As one of the biggest economic contributors in the Dallas-Fort Worth area, American Airlines job layoffs and cutbacks for consumers posed a great threat to locals. As more terminal leases were cancelled and routes eliminated, many employees and  … Read more

The American Bankruptcy Institute and Epiq Systems have just released a report detailing the number of bankruptcy cases for the first half of 2012.  And the results are good, suggesting an economy that is stabilizing.  The combined filings of individuals and businesses have dropped by 14%, settling at the lowest level since 2007. Filing for  … Read more

Though the state of California has seen many financial hardships over the last few years, its cities and municipalities seemed to be doing fine.  Now, however, doubts are arising about the financial security of California’s cities, too.  The city of Stockton, CA, with a population of around 300,000 recently filed for bankruptcy, making it the  … Read more

Filing for bankruptcy can be a scary thought for some people.  However, the truth is that in many situations, seeking the sanctuary provided by the bankruptcy process is the best thing to do.  For a current example, look at Ayanna Kilpatrick, sister of former Detroit Mayor Kwame Kilpatrick. Getting Relief With debts exceeding $345,000 (including  … Read more

The bankruptcy process is rarely smooth and easy, but former Red Sox pitcher Curt Schilling is really learning that lesson this week.  Schilling’s video game company, 38 Studios, is currently filing for bankruptcy in Rhode Island.  However, the debts are having a significant impact on the state, and could affect taxpayers. Schilling’s Debt Hitting Home  … Read more

This past week Brian Tamahana posted an excellent opinion piece in The New York Times titled “How to Make Law School Affordable.”  Tamahana, a law professor himself, understands the broken system of law school that sends so many would-be lawyers spiraling into student loan debt.  For many students, bankruptcy starts to look like a dream  … Read more