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NECC Files for Chapter 11 Protections in Wake of Meningitis Outbreak

New England Compounding Center, the Massachusetts-based pharmaceutical company that was the source of a deadly fungal meningitis outbreak earlier this year, has filed for Chapter 11 bankruptcy last week. Sources also indicate that the company intends to establish a victims’ compensation fund. In October of 2012, there were reports across several states of cases of […]

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Dysktra Senteced in Bankruptcy Fraud Case

Blog / Brent Westbrook

Another former baseball slugger has made the news in regard to a bankruptcy filing this week. Former New York Mets and Philadelphia Phillies outfielder Leonard “Lenny” Dykstra has been sentenced to 6 ½ months in federal prison as a result of a bankruptcy fraud case focused around his hiding baseball memorabilia that should have been

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NABCA Advocating for Reform of Student Loan Bankruptcy Laws

Blog / Brent Westbrook

A report conducted earlier this year by the National Association of Bankruptcy Attorneys indicates that student loan debt has become a significant factor driving consumers to consider bankruptcy. According the report, 81% of bankruptcy attorneys say that the number of potential clients who carry some level of student loan debt has increased either “significantly” or

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Bankruptcy Attorneys Issue Alert on Debt Settlement Companies

Blog / Brent Westbrook

The National Association of Consumer Attorneys has issued a consumer alert calling debt settlement companies the “#1 threat facing deeply indebted Americans.” According to the report, most people who use such settlement services end up in worse financial shape than before. Debt settlement companies are private, for-profit negotiators that purport to negotiate with debt collectors

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Zombie Debt – What It Is and What You Can Do About It

Blog / Brent Westbrook

Zombies seem to be popping up everywhere these days, and could even be making an appearance when it comes to your personal finances. With Halloween right around the corner, you may even have seem some Zombies running around your neighborhood asking unsuspecting homeowners for candy. While these kids in costume may seem cute and harmless,

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Solyndra Chapter 11 Plan Approved

Blog / Brent Westbrook

Another green-energy company that received federal funding had their Chapter 11 bankruptcy plan approved by a federal judge today. Solar panel manufacturer Solyndra filed for Chapter 11 bankruptcy in the fall of 2011, and immediately suspended all business operations. Solyndra was once touted as a cutting-edge manufacturer of solar photovoltaic systems. The company developed

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Corporate Bankruptcy Becomes Election Issue

Blog / Brent Westbrook

A high-profile corporate bankruptcy has worked its way into the issues being raised by the GOP in the upcoming election. On October 16th, battery maker A123 systems filed for Chapter 11 bankruptcy after amassing $144 million in debt and missing a $2.7 million interest payment earlier this month. A123 Systems, Inc. was founded in 2001,

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Bankruptcy can Happen to Anyone

Blog / Brent Westbrook

If you are considering filing for bankruptcy, you may be having feelings of guilt or failure. Don’t. Bankruptcy can happen to anyone, regardless of their work ethic or their financial planning. Often, unanticipated events in life, work, or in the market can have disastrous effects on a person’s financial situation, leaving obligations and liabilities that

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The Means Test and What it Means to Consumers

Blog / Brent Westbrook

The most common types of consumer bankruptcies filed are Chapter 7 or Chapter 13 bankruptcies. Chapter 7 bankruptcies are also known as liquidation bankruptcies, under which a consumer’s non-exempt assets are liquidated and the proceeds used to pay off creditors. Most unsecured debts that are unable to be paid after the liquidation are discharged, and

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Chapter 7 Bankruptcy – Will I Be Able to Keep My Home?

Blog / Brent Westbrook

One question that many people face when considering filing for bankruptcy is whether they will be able to keep their home. Often, a home is the largest investment a person will make in their lifetime, and carries with it emotional, sentimental, as well as financial value. If a person filing for bankruptcy has a family,

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Bankruptcy Basics – The Fraudulent Transfer

Blog / Brent Westbrook

When an individual is considering filing for bankruptcy, some people may be tempted to try and either transfer property to another or to “rack up” purchases through credit cards prior to filing bankruptcy. After all, all credit card debt is discharged in bankruptcy, right? The bankruptcy code has a mechanism by which to deal with

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Bankruptcy and Non-Dischargeable Debt

Blog / Brent Westbrook

Many people under financial distress consider bankruptcy as an option to get back on their feet. Under normal circumstances, an individual files either a Chapter 7 or Chapter 13 bankruptcy. Simply put, a Chapter 7 is a liquidation bankruptcy in which a debtor’s non-exempt assets are liquidated and the proceeds from that liquidation are spread

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NECC Files for Chapter 11 Protections in Wake of Meningitis Outbreak

Dysktra Senteced in Bankruptcy Fraud Case

NABCA Advocating for Reform of Student Loan Bankruptcy Laws

Bankruptcy Attorneys Issue Alert on Debt Settlement Companies

Zombie Debt – What It Is and What You Can Do About It

Solyndra Chapter 11 Plan Approved

Corporate Bankruptcy Becomes Election Issue

Bankruptcy can Happen to Anyone

The Means Test and What it Means to Consumers

Chapter 7 Bankruptcy – Will I Be Able to Keep My Home?

Bankruptcy Basics – The Fraudulent Transfer

Bankruptcy and Non-Dischargeable Debt

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