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Bankruptcy Archives

How to rebuild your credit score after bankruptcy

Many people fear the drop in their credit score that accompanies a personal bankruptcy filing. It is true that Florida consumers will experience an initial drop in their scores after bankruptcy, but the bigger credit picture is often far more favorable than many believe. There are many ways to begin rebuilding credit following the end of a bankruptcy proceeding, and many consumers are able to emerge with better scores than they had before their financial troubles began.

Bankruptcy protection can help a college grad's financial state

Debt is a common problem for Americans who often have excess credit card debt, mortgages and other forms of debt to contend with each month. For many young people, however, student loan debt is one of their largest financial obligations in Florida. Particularly for those who never completed their degrees or who finished school but can't find work, it might seem impossible to balance the cost of the student loans and their regular expenses. That's when bankruptcy may be a helpful solution.

Ex of Mel Gibson files for bankruptcy protection

Divorce and other family law disputes can lead to financial hardships for Florida residents. Dividing one household into two can be financially prohibitive for many Orlando area residents, but they must still take this step in order to end unhealthy relationships. Others may struggle to make ends meet because they are raising children and have trouble obtaining a suitable amount of child support from the other parent.

Skyrocketing medical expenses lead to Florida bankruptcies

Last month, we wrote that more than one-quarter of American families struggle to pay medical bills. Medical debt is a leading cause of bankruptcy, and it may actually cause even more personal bankruptcies than mortgages and credit card debt. Many Florida residents think that they could never be crushed by medical bills because they have health insurance. The unfortunate truth, however, is that many people with insurance can end up facing unmanageable medical bills.

Beware of low-cost, cut-rate or single-fee bankruptcy offers

Having a large amount of debt can be like having a dark cloud hanging over your head; it can be like having an unbelievably heavy weight on your shoulders. Serious debt can be suffocating, which is why people will look for a solution. We are bombarded by offers of low-cost debt solutions, and these can seem like a good option.

Bankruptcy judge approves airline merger settlement

Some Florida residents may have been following recent news stories concerning a planned merger between American Airlines and US Airways. American Airlines filed bankruptcy two years ago; however, they had been counting on a merger with US Airways in order to remain operable. The Justice Department had filed an anti-trust suit in an attempt to block the merger, but ended up dropping the suit when both airlines agreed to give up slots at airports in key cities.

Fisker Automotive files for bankruptcy before selling out

Florida business owners may be interested to learn about the recent actions of Fisker Automotive, the previous manufacturer of the Karma, a pricey, hybrid-electric car. Even after the United States government awarded Fisker Automotive with a $529 million loan several years ago, the Karma hybrid sports car manufacturer finally filed for chapter 11 bankruptcy. Fisker Automotive had hopes of selling the sporty Karma electric sedans at the cost of $103,000 each, but the car had quality issues that hurt the company's name and financial standing.

Aaron Carter files for bankruptcy

He was once a teen sensation, but part-time Florida resident and singer Aaron Carter is now filing for bankruptcy protection. His publicist announced it's a move to get rid of over $2 million in debt. The publicist also said bankruptcy was a positive move for Carter and would allow him to move forward in his life and career.

Cargo airline eyes new bankruptcy

For the second time in two years, Global Aviation Holdings has filed a petition for protection from its creditors. The provider of passenger, cargo and military charter services in Florida and around the world announced its intention to once again declare Chapter 11 bankruptcy due to the U.S. military cutting back on shipping that is a large part of the company's revenues. Global Aviation is the biggest single provider of chartered air services to the Pentagon. In addition to the reduction in military contracts, a downturn in commercial freight shipping was also cited as a reason for the bankruptcy.

ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
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