… via Wikipedia

According to an article in the Washington Post, a bankruptcy judge approved Michael Vick ’s bankruptcy plan to repay creditors.  Michael Vick’s creditors, who are owed more than $20 million in total, ratified the bankruptcy plan to repay them based on his future earnings and the sale of his assets.

The article said:

“Vick signed a contract with the Eagles that pays him $1.6 million this season, with a team option for next season for $5.2 million…a payment …

Tags: Bankruptcy Credit card Debt Finance Michael Vick United States Washington Post

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Dr. Conrad Murray, the cardiologist who reportedly was in Michael Jackson’s Los Angeles mansion when the entertainer collapsed, is reportedly facing a litany of financial (and legal) problems. Most recently, the doctor who is accused by many of failing to properly care for Michael Jackson, was declared in default on a $132,000 debt related to office medical equipment and services and his home in Las Vegas may be facing foreclosure. However, Dr. …

Tags: Bankruptcy Michael Jackson Physician

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… the 80’s and 90’s.  Tyson’s lifestyle was costing him $400,000 a month.

Michael Vick

Filed for bankruptcy in 2008.  Vick’s problems have been all over the news the last few years.  He lost his NFL salary and endorsement deals after being sent to prison for his role in a dog fighting ring.  He already wasn’t good with his money, so he had to file for Chapter 11.

Johnny Unitas

Filed for bankruptcy in 1991.  He is …

Tags: Andre Rison Archie Griffin George Best Johnny Unitas Lawrence Taylor Michael Vick Mike Tyson Riddick Bowe Sheryl Swoopes Tony Gwynn

According to an article in the Star-Telegram, Michael Jackson’s personal physician is more than $100,000 behind on his mortgage payments and is facing a possible foreclosure on his $1.1 million mansion in the exclusive Red Rock Country Club.

The article said:

“Murray’s lawyer in Houston, Edward Chernoff, issued a statement acknowledging the cardiologist’s home was in “pre-foreclosure” and blaming Murray’s financial woes …

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According to an article in the Chronicle, Michael Jackson died with over $400 million in debt, despite his superstar status, platinum albums and the millions of dollars he earned each year. According to the article he was only paying $4.5 million a year (as of 2006) to service his debt, but it wasn’t nearly enough.

The article said:

“The New York Times reported in 2006 that the previous year Jackson was making monthly payments of …

Permalink: /filing_bankruptcy/michael-jackson-could-bankruptcy-heal-a-legacy-of-debt/

… hear about Chapter 11 bankruptcy when companies such as GM file bankruptcy or celebrities such as Michael Vick and Stephen Baldwin seek bankruptcy protection; but Chapter 11 bankruptcy is also used by ordinary businesses and individuals seeking relief from crushing debt.

If you’re considering filing Chapter 11 bankruptcy expect to go through a process that requires multiple and often complex steps.  Unlike Chapter 7 bankruptcy, which can usually be resolved in one hearing, Chapter 11 …

Michael Lee Wilson could have 10 years removed from his 20 year sentence if his bankruptcy comes up with $2 million for his victims.

Back in October, Michael Lee Wilson Pleaded guilty to 59 felony counts of grand theft, because he had been camming people through his mortgage company, Pacific Coast Mortgage, for several years. He was originally arrestede in July and charged with 147 counts …

… creditor.

The details of the bankruptcy case:

The debtors (aka IPR) borrowed money from Michael Ciappa (creditor) to demolish an existing house and build a new one.   The agreement was that once the debtors built the house it would be sold and the profits would be split equally with the creditor.  But when a buyer was found, the sale fell through, the debtors did not agree with the amount Ciappa (creditor) claimed he had incurred.

The debtors then mortgaged the property, but …

… are that way whether they file bankruptcy or not, for example, Seattle-based commercial developer, Michael Mastro, Sr., has been accused of moving his $15 million home, jewelry, and Rolls Royce into a trust to defraud creditors.  A complaint filed against Mastro in federal court alleges that Mastro transferred these assets into limited liability companies under the ownership of an off-shore trust.

The suit, filed by bankruptcy trustee James Rigby, claims that the transactions (made over the …

We’ve all heard the saying that the best offense is good defense.  The same goes with student loans .  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more prudent in their choices regarding college to alleviate …

Comment author: michael

In the Chapter 13 bankruptcy case of (Halverson, Michael; In re), the bankruptcy court ruled that the Chapter 13 debtor’s bankruptcy estate was entitled to half of the joint income tax refunds received by the debtor and his nonfiling wife.

The details of the bankruptcy case:

“The Massachusetts Department of Revenue (MDOR) filed a proof of claim in the amount of $64,172 including $14,936 for joint income tax liabilities of the Chapter …

… cramping its style in the Denver market.  “This is all about a tactical move,” said analyst Michael Boyd, who is based in the Denver area. “It’s not about consolidation. It’s not about Southwest wanting to expand. It’s not about Southwest wanting to get into Costa Rica. It’s because Frontier is the main reason they ain’t making money in Denver.”

Airline analyst Bob McAdoo of Avondale Partners believes the deal just plain makes sense for Southwest.  “It’s a great way …