On Tuesday, Gary Busey filed Chapter 7 bankruptcy. That’s not all that shocking–plenty of celebrities have sought bankruptcy protection. Entertainers like Gary Coleman, Burt Reynolds and Jerry Lee Lewis, businessmen like P.T. Barnum and Donald Trump, socialites like Patricia Kluge, professional athletes like Lenny Dykstra and Lawrence Taylor. Even Abraham Lincoln and Walt Disney filed [...]
*Chapter 7 Bankruptcy
When a creditor obtains a court judgment against a debtor, wage garnishment can be soon to follow. Most persons subjected to wage garnishment will consult a lawyer to see if it can be stopped, and many of those will file either chapter 7 or chapter 13 bankruptcy to stop the wage garnishment. While stopping a garnishment through [...]
Bankruptcy trustees in California and elsewhere were notorious for holding a Chapter 7 case open while real estate prices rose (hah! remember those days?) above the protected values. The trustee would then sell the home, forcing a debtor to move – and spend the protected part of the sale proceeds to do so - while recovering money for [...]
Getting compensated for injuries is personal. It’s meant to replace a loss to you as a person. Missouri exemption law recognizes that. Yet the recent evolution of those exemptions in bankruptcy (here, here, and here) has set up an unusual conflict between state and federal law. Until the Benn decision discussed previously, Missouri cases were [...]
Sometimes it makes more sense to let go of the past and start building a new future. Chapter 7 bankruptcy can be your solution. Does this debt arrangement conversation sound familiar? Client: I want to make arrangements to pay this debt. Me: Ok, how much can you offer to pay? Client: Nothing, I don’t have [...]
I frequently meet with clients who own a business that has financial problems. It may not be able to pay its bills as they come due, there may be an eviction threatened, or a lawsuit. These clients have done some homework, and usually start out our meeting by saying that they want to retain me [...]
