During wrestling celebrity Hulk Hogan’s (Terry Bollea) divorce from Linda Hogan (Linda Bollea) finances were a constant point of battle. His ex-wife accused him of hiding assets and Hulk Hogan claimed that he was drowning in medical debt. Here’s a snapshot of just what that battle looked like back in March:

Lawyers for Hulk Hogan filed documents requesting $300,000 of the his frozen assets. The hulkster had surgery on …

Tags: Bankruptcy Divorce Hulk Hogan Linda Hogan Medica Debt

In the bankruptcy case of McCoy, Linda T.; In re (McCoy v. Missis­sippi State Tax Commission), the bankruptcy court deemed a Chapter 7 bankruptcy debtor’s income taxes for 1998 and 1999 nondischargeable in bankruptcy.

The bankruptcy case said:

“The debtor received a Chapter 7 discharge on Jan. 23, 2008. On Dec. 3, 2008, she filed an adversary proceeding against the Mississippi State Tax Commission seeking a …

… that the assets of this trust are available first for the lifetime use of Michael R. Mastro and Linda A. Mastro and other assets outside of this trust are utilized first to satisfy any outstanding obligations owed to ‘Friends and Family.’”  Those two statements appear rather contradictory upon closer inspection.

The lawsuit seeks to prevent the third parties who control Mastro’s LLCs from control over the assets while a judge rules on the complaint.  Mastro owes more than $500 …

… retirement with shattered dreams and unmet obligations.  One of those jilted Nortel employees was Linda Amick, who worked for the company for 24 years, according to an article in the Huffington Post.

The article said:

“It was really a great place to work,” Amick told the Huffington Post. She looked forward to a comfortable retirement on a few acres in a small town 50 miles from Atlanta, Georgia. So much for that: Nortel Networks filed for bankruptcy protection in the U.S. and …

According to an article in the Dallas Morning News, Texas legislators have created stiffer criminal penalties for those who defraud senior citizens.  The influential group, the Texas Silver-Haired Legislature urged that decisive action be taken against criminals who target senior citizens for foreclosure scams, credit card scams, identify theft and other types of financial abuse.

The …

Comment author: Linda

… many borrowers have credit cards so that “when a rainy day comes along they can use it,” said Linda Sherry, spokeswoman for Consumer Action, a San Francisco-based nonprofit consumer education and advocacy group.”

Most of us have that one card in our pocket that we only use in emergencies, especially when building up sufficient savings is difficult or impossible.  Without that cushion, and no savings, only one more drop in the bucket (like an unplanned job loss) is needed to cause a …

According to an article in the Dallas Morning News , the Dallas- Fort Worth unemployment rate has increase to 8.3 percent from 8.2 percent in June and from 5.3 percent a year ago.  And many of Dallas-Fort Worth’s unemployed are not being counted because many have given up searching for work or have taken temporary or part-time jobs.  And despite some job growth in the area, Dallas-Fort …

Comment author: Linda

… they will graduate and get these really high-paying jobs and be able to handle the bill,” said Linda Sherry, a spokeswoman for Consumer Action.”

And once the new law passes parents who co-sign credit cards for their college aged children may end up actually bailing them out whether they like it or not. For those parents considering the implications of the new law, it’s important to understand that if you co-sign for your child’s credit card you will be held financially responsible …

… article quoted one of the tenants;

“I’ve got a lease through August 11 next year,” said Linda Melcher, a 1001 Ross Avenue tenant. “So, what does that mean for me, obviously, but what does it mean to everybody else who lives here?”

Many renters are experiencing the negative effects of foreclosures. When the foreclosure crisis first began many renters were pushed out onto the streets with almost no warning. Fortunately for renters facing foreclosure, Congress passed a law …

… development, but what we do know is that the interest rate will be capped at 18 percent,” said Linda Webb-Mañon, a spokeswoman for the Dallas-based Texas Credit Union League. “That is the max. And when you consider what consumers pay at predatory lenders, it’s a good deal.”

Currently, 90 percent of consumers who use payday loans pay interest rates between 300 and 400 percent. Fifteen states and the District of Columbia have capped payday loan interest rates at 36 percent. Texas …

… requirements, all of a sudden are served with foreclosure notices,” said NLIHC Deputy Director Linda Couch. “And in every state but New Jersey and the District of Columbia, renters are not allowed to stay through their lease term and are given no special protections.”

As we have previously discussed on this blog paying your rent on time is not a protection against an eviction due to foreclosure. Renters must be prepared for a possible foreclosure with savings and a contingency …

Representative Linda Sánchez introduced House Bill 3707 that would eliminate a ban on modifying residential home mortgages in Chapter 13 bankruptcy. Currently, the law for Chapter 13 bankruptcy allows modification of nearly any type of loan with the exception of a residential home mortgage. Under the proposed bill, homeowners may be allowed, with the supervision of the bankruptcy court and bankruptcy …