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July 2016 Archives

Can I make it through bankruptcy and keep my house?

Bankruptcy does not always involve the total liquidation of all one's belongings. For example, in the most common type of consumer bankruptcy, known as Chapter 7 or "liquidation," consumers may not be forced to liquidate their home in order to pay off debts.

Founder of Gawker Media may be headed for personal bankruptcy

The founder of Gawker Media, Nick Denton, may be facing personal bankruptcy. A U.S. judge recently refused to extend special protections that were shielding him from having to pay an invasion of privacy lawsuit ruling concerning ex-wrestler Hulk Hogan.

Willie Nelson: How he went from riches to rags in a heartbeat

There is no such thing as being so wealthy that you are immune from financial troubles. It is important for Kentucky residents to remember that going bankrupt is not only something that happens to the poor. Sometimes, even millionaires get millions of dollars in debt. Take singer-songwriter Willie Nelson, for example. At one time, he was $17 million dollars in debt to the Internal Revenue Service.

Personal Bankruptcy Won't Help Erin Andrews' Stalker

In recent bankruptcy news, after famed sports broadcaster Erin Andrews won a multi-million dollar judgment against Michael Barrett for invasion of privacy and emotional distress, Andrews had to fight the case again in Barrett's personal bankruptcy case. The case stemmed from Barrett secretly recording Andrews naked in a hotel room and then posting the video online for the world to see. During the trial Barrett filed for Chapter 7 bankruptcy protection, but recently the judge in Barrett's bankruptcy eliminated Barrett's hope of getting out from under the multi-million dollar verdict.

Credit card debt payment strategy: The snowball method

The snowball method of credit card debt payment is a very effective strategy to make your credit card debt disappear fast. It involves focusing all your debt payment on one card at a time until, eventually, you pay them all off -- and a lot faster than you think.

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