Corporate Bankruptcies Still Dominate The News

May 28, 2009

With stories about Chrysler’s trek through bankruptcy court and GM’s inevitable bankruptcy filing, it seems like corporate bankruptcy has dominated the news. 

Now auto-parts supplier Visteon has filed for Chapter 11 bankruptcy in a Delaware court, just one month after its British unit filed a separate case in Great Britain and closed three plants. 

That isn’t all that suprising considering the dramatic fall in car sales. One suprise is the fashion house Christian Lecroix is seeking bankruptcy protection in French court. 

It makes me wonder if the financial problems that the people who work for these companies is getting the same attention that the businesses get. How many of their employees will have to file bankruptcy after they lose their jobs or health insurance? How many retirees will have to file bankruptcy to protect their homes from creditors after their pension benefits take a hit?

President Obama Names Supreme Court Nominee

May 26, 2009

President Barack Obama named Judge Sonia Sotomayor as his choice to replace retiring Justice David Souter.

The nomination has been called a reward for Latino activists who have long sought a Latino justice on the high court. It is also likely to draw opposition from Republican groups who have called her a “liberal judicial activist” who “thinks judges should dictate policy”.

If confirmed, Judge Sotomayor would be the first Latina to serve on the U.S. Supreme Court and only the third woman.

Texas AG Going After Debt Relief Companies

May 20, 2009

Four debt relief companies are the target of enforecement action taken by Texas Attorney General Greg Abbott’s office.

Dallas area based BC Credit Solutions allegedly told clients that they would have to pay off full balances and interest in a Chapter 13 bankruptcy. Provisions of the U.S. Bankruptcy Code allows the amount of money owed to unsecured creditors to be reduced. 

LH Financial Service, also based in the Dallas area, allegedly told clients that they would lose their home, investment accounts and other large assets in bankruptcy. Exempt property in the state of Texas includes the homestead and up to $1 million in retirement savings.

Louisville, Kentucky based DebtORSolution allegedly claimed that filing a Chapter 7 bankruptcy would result in an auction of all your property, when in practice federal and state bankruptcy exemptions allow the debtor to keep most of thier property.

Scottsdale, Arizona based Four Peaks Financial Services allegedly told customers that their debt settlement program “allows your credit score to dramatically improve,” when in fact it can have a negative impact on a debtors’ credit rating.

Finding A Fort Worth Bankruptcy Attorney

May 19, 2009

Knowing where to turn when you are facing financial difficulty can be tricky. It can be embarassing to admit that you need help with your financial problems.

I encourage you to do some research and find a bankruptcy attorney that is attentive to your needs. Look online for information about bankruptcy. One good resource is

A professional, qualified Fort Worth bankrutpcy attorney will not judge you for your past behavior. A Fort Worth bankruptcy lawyer will help you use the protections afforded to you under bankruptcy law to protect your assets for you and your family.

Getting out of debt isn’t easy, but with the help of a good Fort Worth bankruptcy attorney you can find a way to get out of debt and even protect your home from foreclosure.

Hill Country Galleria Declares Bankruptcy

May 6, 2009

Just hours before the Hill Country Galleria was set to go up at the Travis County foreclosure auction, the shopping center filed for Chapter 11 bankruptcy protection.

The bankruptcy filing stops the foreclosure process on the property and will give the developers of the one and a half year old mall on Highway 71 in Bee Cave time to refinance a construction loan that had expired.

Jill Rowe, a local retail broker told the Austin American Statesman that it is not surprising that Opus chose the bankruptcy route, given that the company was unable to convert its construction loan to permanent financing and the project’s layers of lenders. Even if leasing and other aspects of the project are on track, Rowe said, “just the short-term note coming due creates an unworkable situation.”

Wardrobe Malfunction May Still Cost CBS

May 4, 2009

Janet Jackson’s infamous wardrobe malfunction while performing with Justin Timberlake at the 2004 Super Bowl may still result in CBS paying a stiff penalty.

The United States Supreme Court ordered the 3rd U.S. Circuit Court of Appeals to consider reinstating a $550,000 fine imposed by the FCC after the high court upheld the commission’s policy on fleeting expletives.

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