Warren Snapp, who played for the Tampa Bay Buccaneers, recently filed for Chapter 7 bankruptcy in South Florida. This personal bankruptcy filing came after a 13 year career with the NFL and a stint on "Dancing with the Stars."
An owner, who operated a number of businesses, including restaurants in Florida, recently filed for Chapter 7 bankruptcy. His wife is also listed as a joint debtor. As of now, his Swisshelm Group, Inc., answering machine message claims the office is closed for good.
The recession has led to many once thriving businesses to seek out bankruptcy protection in order to either reorganize or discharge debts that have accumulated over the years.
A well-known commercial real estate broker from Florida has filed for bankruptcy amid a run of financial setbacks suffered during his time as a real estate developer. According to his Chapter 7 bankruptcy petition, the man carries a specified debt of $3.2 million and several other debts where the amount owed is unknown. The man left the brokering business several years earlier and spent time as a developer. But, after some business setbacks, he returned to his former profession. In a prepared statement, the broker said that the real estate collapse in Florida was a major contributing factor to his financial struggles. He also brought up the fact that bankruptcy protection was the only viable option left in order to get out of debt and take control of his finances.
It can start with an unanticipated medical expense and only worsen with an abrupt job loss. These types of life changes can lead to overwhelming debt, something that people rarely foresee. But once debt begins to pile up, things can begin to look hopeless.
In these current trying times, some businesses that once thrived are now in tough financial situations. Often, the only way to remedy this is by filing for a business bankruptcy.
Back in 1996 the movie "Jerry Maguire" came out. The inspiration for the film came from the first sports agent Leigh Steinberg. And while most Florida residents have heard the "show me the money" line from the movie, it turns out that creditors really are asking for money from Steinberg.
The creditors of Young Buck, whose birth name is David Darnell Brown, are due in court next month for a meeting. After that meeting, more aspects of the rappers bankruptcy should be hashed out.
Naples Bay Resort, a four-star Florida hotel, is reportedly facing an unwanted Chapter 7 bankruptcy. An involuntary bankruptcy petition has been filed by its creditors, and a temporary trustee has been appointed. A final decision as to whether the involuntary bankruptcy will proceed will be made shortly.
Many things can lead to financial stress. In general, a job loss, credit card debt and medical debt are all common reasons that many find themselves unable to pay all of their bills on time. And while there are a number of debt relief solutions often available, many end up choosing to file for either a Chapter 7 or Chapter 13 bankruptcy as a way to take control of their finances.