Earlier this week Nadya "Octomom" Suleman filed for Chapter 7 bankruptcy in order to pay off her more than $1 million in debt. According to her court filing, Suleman has about $50,000 in assets. Suleman owes money to her father, DirecTV, the city's water department, her children's school, and at least $30,000 in unpaid rent. [...]

Former NFL star Warren Sapp filed for Chapter 7 bankruptcy protection in Florida earlier this month. Sapp claims he has $6.7 million in liabilities but only has $6.45 million to his name. According to court documents, Sapp owes more than $900,000 to the IRS, hundreds of thousands of dollars in child support and alimony payments [...]

According to the U.S. Bankruptcy Court in Toledo, bankruptcies filed at the court decreased by 19 percent in 2011.  In 2010, a total of 8,461 bankruptcies were filed in the 21 counties the court handles, while only 6,853 bankruptcies were filed at the court last year. Both Chapter 7 and Chapter 13 bankruptcy filings decreased [...]