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Bankruptcy Archives

Olympic gymnast Gabby Douglas' mom on Chapter 13 payment plan

When it comes to gymnasts competing in this year's Olympics, 16-year-old Gabby Douglas has quickly become a fan favorite. The teen has already won two gold medals and is the first Africa-American woman to take home the title of winning an all-around gold in gymnastics. And while she could end up earning millions in endorsement deals, the fact that her mother filed for Chapter 13 bankruptcy several months ago highlights the fact that times can be tough for anyone --even for the parent of a gold medal winning Olympic athlete.

Could bankruptcy help those struggling with student debt?

Although bankruptcy does not currently include the discharge of student loans, some are wondering if law changes could help those struggling with debt after college. For many residents in Florida and across the United States, debt comes from a variety of sources, such as credit cards, loans and house payments. Although bankruptcy can help with most of these debts, due to a 2005 law, student loans are excluded from bankruptcy. A recent report out by the Consumer Protection Bureau and the U.S. Department of Education suggests that Congress should reconsider the law as more and more people struggle to overcome student debt. But some wonder -- would it actually make a big difference?

What can you do if you have overwhelming debt?

These days many Florida residents are facing the consequences of having accumulated overwhelming debts, such as credit card debt, mortgages and car loans. There can be many reasons for these financial hardships including job losses, medical expenses and the housing market crash that has hit Florida particularly hard.

Chapter 11 bankruptcy: coal mining industry hit by low demand

As we've talked about in the past, consumer demand largely dictates the market. This means if people's buying choices change, companies and businesses that were once thriving can end up in tough financial situations continuing to go further and further into debt. This in turn can end up leading to lay-offs, which directly affects employees.

Bankruptcy filings down in Orlando, but times still tough

Several years ago the economy took a turn for the worst and the U.S. was declared as being in a recession. This led to a number of Florida residents struggling to keep up with credit card and mortgage payments. Thousands of people -- who were normally very responsible with their money -- ended up filing for bankruptcy.

Former pro-athlete Jamal Lewis files for personal bankruptcy

In our last post we briefly talked about Chapter 11 bankruptcy, focusing on how many businesses will file for this type of bankruptcy with the hopes of reorganizing debts while still remaining in operation. However, businesses are not the only types to file for Chapter 11 bankruptcy, as individuals do too.

What is a Chapter 11 bankruptcy?

Since the recession, a number of businesses have ended up struggling under mounting debts. In fact, we're even posted on a number of different businesses -- both large and small -- that have filed for Chapter 11 bankruptcy in the hopes of reorganizing debts and staying in business.

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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