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Possessions of ex-NFL quarterback auctioned off to pay debt

2013-08-03T21:04:35+00:00

To pay off $1.7 million loan, ex-NFL quarterback Vince Young’s personal possessions were inventoried in preparation for auctioning, a report said on Thursday, July 25. A judge did allow the football player to keep $60,000 worth of personal property, but ordered him to sell the rest of his personal properties in an auction to pay [...]

Possessions of ex-NFL quarterback auctioned off to pay debt2013-08-03T21:04:35+00:00

Federal agencies to fight abusive collecting practices of lenders

2013-07-26T20:49:20+00:00

Federal regulators announced in early July that they plan to fight questionable debt collecting practices of some of the nation’s big lenders. The Consumer Financial Protection Bureau asserted on Wednesday, July 10 that they have the authority to regulate debt collection practices of banks. According to Richard Cordray, unfair, deceptive, and abusive debt-collecting practices are [...]

Federal agencies to fight abusive collecting practices of lenders2013-07-26T20:49:20+00:00

Medical bills major cause of bankruptcy

2013-07-17T22:17:40+00:00

In a report by NerdWallet Health, data showed that 1.7 million Americans are expected to go bankrupt this year due to rising medical bills. NerdWallet Health Vice president Christina LaMontagne said “medical bills can completely overwhelm a family when illness strikes.” In fact, their data shows that 15 million Americans will exhaust their savings in [...]

Medical bills major cause of bankruptcy2013-07-17T22:17:40+00:00

Studies show more older people are now debt-ridden

2013-06-10T18:31:13+00:00

According to recent studies and data, more senior citizens are facing overwhelming debt today, according to The Fiscal Times. Adults aged 65 and above were found out to be filing for bankruptcy at a higher rate than any other age group, in addition to being found to have 50 percent more debt in their credit [...]

Studies show more older people are now debt-ridden2013-06-10T18:31:13+00:00

Study: young people diagnosed with cancer more likely to file bankruptcy

2013-06-06T21:14:20+00:00

According to a recent study, young people diagnosed with cancer are more than two times as likely to file for bankruptcy compared to cancer free young people. Dr. Scott Ramsey of the Fred Hutchinson Cancer Research Center and his co-authors found strong evidence linking cancer diagnosis and the risk of bankruptcy. According to a database [...]

Study: young people diagnosed with cancer more likely to file bankruptcy2013-06-06T21:14:20+00:00

Stafford loan interest rates could increase

2013-04-29T19:04:37+00:00

Certain students may pay higher college-loan interest rates if Congress does not work to prevent mandatory cuts. Future interest rates on subsidized Stafford loans will increase by one hundred percent, from 3.4 percent to 6.8 percent, if Congress does not pass a bill keeping the rates as they are by the deadline on July 1. [...]

Stafford loan interest rates could increase2013-04-29T19:04:37+00:00

Homeowner ordered to remove foreclosure protest sign

2013-04-19T20:22:29+00:00

A local homeowner in Granger Township, Ohio was recently ordered to remove a protest sign from his yard that targets the two banks involve in his and his wife's foreclosure. ‘Fifth Third and Freddie Mac proudly present the capture of this home and family into the smash the dream program’ was printed on a huge [...]

Homeowner ordered to remove foreclosure protest sign2013-04-19T20:22:29+00:00

Skyscraper owner files for bankruptcy

2013-02-28T15:05:28+00:00

The owner of the old Chiquita Center, located in downtown Florida, recently filed for bankruptcy after the building lost a major tenant last year. According to reports, Tucson-based building owners, AZ 250 LLC, filed Chapter 11 bankruptcy in Arizona in January with 107 creditors, assets worth $25 million, and almost $71 million of liabilities listed. [...]

Skyscraper owner files for bankruptcy2013-02-28T15:05:28+00:00

Foreclosures Increased in Ohio Last Year

2013-02-04T18:48:28+00:00

2012 saw an increase in foreclosures throughout Ohio, largely due to a backlog from the housing crisis, according to a recently released report. RealtyTrac Inc., a popular foreclosure tracking firm, said Ohio residents had filed more default notices, scheduled auctions, and bank repossessions last year than in 2011. With 89,584 filings recorded last year, RealtyTrac [...]

Foreclosures Increased in Ohio Last Year2013-02-04T18:48:28+00:00

Battery maker bankruptcy bad news for luxury car manufacturer

2012-11-05T20:53:58+00:00

Fisker Automotive could potentially be in financial danger after its sole electric battery manufacturer filed for bankruptcy last month. A123 Systems, which made all of Fisker's electric car batteries for its Karma model, filed for Chapter 11 protection in October with $376 million in debt. According to the Washington Times, A123 Systems is now requesting that [...]

Battery maker bankruptcy bad news for luxury car manufacturer2012-11-05T20:53:58+00:00

AMR reports $82 million loss for August

2012-10-01T22:42:42+00:00

AMR Corp., the parent company of American Airlines, posted a net loss of $82 million for the month of August. The Fort Worth-based company, which filed for Chapter 11 bankruptcy last November, also saw a $535 million loss in short-term investments and unrestricted cash, according to BusinessWeek. A majority of the commercial airline company's losses [...]

AMR reports $82 million loss for August2012-10-01T22:42:42+00:00

Contec Holdings Ltd. files for bankruptcy

2012-09-04T19:34:35+00:00

The cable-box repair company Contec Holdings Ltd., owned by Bain Capital, has filed for bankruptcy protection due to low demands for its services. Contec officials say operations will continue as normal during the bankruptcy process, which is expected to be completed in 60 days. The Huffington Post reports that lenders have agreed to loan the [...]

Contec Holdings Ltd. files for bankruptcy2012-09-04T19:34:35+00:00

Former Oakland A’s baseball player Jose Canseco files for bankruptcy

2012-08-01T20:48:48+00:00

Former Oakland Athletics baseball player Jose Canseco has filed for Chapter 7 bankruptcy protection, according to the Las Vegas Sun. Canseco was named Rookie of the Year in 1986 and American League MVP in 1988. Canseco's bankruptcy petition lists his assets at less than $21,000 and his liabilities at more than $1.7 million. Nearly a [...]

Former Oakland A’s baseball player Jose Canseco files for bankruptcy2012-08-01T20:48:48+00:00

Dynegy Inc. more than $5 billion in debt

2012-07-09T20:30:41+00:00

Dynegy Inc., a Houston-based power company, has filed for bankruptcy protection in order to merge with its bankrupt subsidiary Dynegy Holdings as part of a reorganization plan. Last year, Dynegy had more than $5 billion in debt. According to the Wall Street Journal, the company's coal and natural gas power plants will continue to operate [...]

Dynegy Inc. more than $5 billion in debt2012-07-09T20:30:41+00:00

Dysktra pleads guilty to bankruptcy fraud

2012-07-02T20:26:31+00:00

Former New York Mets outfielder Lenny Dykstra has pleaded guilty in Los Angeles to three charges in his bankruptcy fraud case. Dykstra faces up to 20 years in prison for money laundering, concealment of assets, and bankruptcy fraud. The Sacramento Bee reports that prosecutors say Dykstra illegally destroyed, sold, or hid property worth more than [...]

Dysktra pleads guilty to bankruptcy fraud2012-07-02T20:26:31+00:00
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