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Do You Have to Give Back Stuff You Bought with Credit Cards If You File Bankruptcy?

Credit cards

If you're drowning in debt and considering bankruptcy, you may be worried what will happen to your stuff. This is a valid concern but, most likely, you won't have to hand it over. If you have spent heavily on your credit cards, you may ...

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Dwayne Wade Facing Foreclosure – Celebrity Money Problems

Dwayne Wade and Gabrielle Union

If you're a fan of hoops, you know the name Dwayne Wade. The 6'4” NBA guard plays for the Miami Heat and rakes in nearly $19 million a year in salary alone and another $11 million annually in product endorsement fees. He ranks #55 on ...

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Does the Automatic Stay Protect Your Co-Debtor, Co-Signer or Spouse from Collections

Stop and stay

No matter which chapter of bankruptcy you choose, Chapter 7 or Chapter 13, as soon as you file, an automatic stay kicks in that stops debt collection efforts. The automatic stay is designed to keep creditors off your back while the Trustee evaluates your petition ...

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5 Tax Implications of Filing Bankruptcy

Income taxes

They say the only inevitable things in life are death and taxes. Nearly everything in life has some sort of tax consequences – marriage, divorce, jobs, charitable donations, having kids, going to college, buying a car, even putting gas in that car – everything. Whether ...

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Celebrity Debt News: Rapper Ginuwine Is on the Brink of Bankruptcy

Ginuwine

Today we bring news of another big celebrity in big money trouble – rapper Ginuwine, otherwise known as Elgin Baylor Lumpkin. Despite a decade of platinum and multi-platinum selling albums, Ginuwine is drowning in most every type of debt and, according to his financial rep ...

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5 Things to Avoid Doing Before You File Bankruptcy

No, no, no

If your finances are out of control and you just can't pay your bills and debts, you may be looking for alternatives to get you out of this difficulty. Bankruptcy is one of those possible solutions. Depending on how much you earn, the type of ...

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Supreme Court May End Lien Stripping. How Filing Bankruptcy Now Can Help

Supreme Court

We've written here before about lien stripping, but here's a quick rundown on what it is and how it helps consumers. Lien stripping is usually only possible in Chapter 13 and only for second mortgages, not first mortgages. Currently, in most court jurisdictions, it's acceptable ...

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Thanksgiving for Less – 6 Tips to Spend Less on Turkey Day

Thanksgiving dinner

A big Thanksgiving can be costly to put together, particularly if you host a lot of friends and family for the big day. If you're on a budget – like most people – you don't want to spend a fortune on the meal, but you ...

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Celebrity Bankruptcy: Flex and Shanice Tell How They Overcame Financial Disaster

Flex Anderson and Shanice

Today in celebrity bankruptcy news, we bring you a tale of two married celebs that used bankruptcy to conquer their debt and get a new lease on life. In 2001, actor and comedian Flex Anderson was cast in a starring role in the UPN ...

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If a Creditor Sues You – You Should Show Up in Court Even If You're Broke!

Courtroom

If you're received a notice in the mail that one of your creditors is suing you, you may be in a panic. When you can't pay your bills and have to let some of your debts go delinquent, this is a likely consequence. The usual ...

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