According to an article in the Business Journal, True Temper Sports Inc. has filed for Chapter 11 bankruptcy protection.  The company is filing a pre-packaged bankruptcy petition with the approval of its secured lenders, bondholders and shareholders.

The article said:

“The filing is considered to be “a mechanism to implement the agreed upon balance sheet restructuring, and will not impact the fundamental business of True Temper or …

Tags: True Temper Sports Inc.

Permalink: /chapter-11-bankruptcy/true-temper-sports-files-chapter-11-bankruptcy/

According to an article in the Dallas Morning News , General Motors officially announced that it will temporarily close 13 assembly plants in the U.S. and Mexico. GM workers at the Arlington, Texas plant will also suffer a temporary closure with over 2,000 workers facing furloughs.

The article said: General Motors Corp. said Thursday that it will temporarily close 13 assembly plants in the …

Permalink: /breaking-news/gm-rumors-true-gm-temporarily-closing-13-plants/

… to keep their indebtedness a secret are less likely to be honest with themselves about their true financial condition.  If others don’t see it then it does not exist is often the mentality held by secret debtors. Also, a debtor who is hiding his/her debts is not likely to consider bankruptcy or to even speak with a bankruptcy attorney about their options because they are in denial.  And bankruptcy is often their best option to reduce or discharge the debt.

Secret debtors are …

… will lose all of their personal property.  For the umpteenth time, this myth is simply not true.  A matter of fact, most debtors who file Chapter 7 bankruptcy do not lose any of their property.  Every state, plus the federal bankruptcy code provides a generous amount of exemptions for debtors to use during bankruptcy.  Exemptions protect the debtor’s property from seizure during the bankruptcy process.  For example, in the state of Texas, the debtor’s homestead is exempt …

… the inevitable. Whatever your plans are for conquering debt, don’t delay.  This is especially true in most cases for filing bankruptcy.  The longer you wait the worse your debt troubles will become.  Remember, when you delay filing bankruptcy or paying off debt, you give your creditors more time to file a lawsuit, garnish your wages or take other aggressive collections actions against you.

Get professional advice.  None of us know everything and that is especially true when it …

… cheaper or with time (not money)?  While the old saying “you get what you pay for” rings true, there are ways to get the benefits of certain products or services without investing a lot of money.  However, nothing is truly free, so where you don’t invest money you will need to invest time.  This takes us to our final point.

Will purchasing this product or service save me time?  Each of us only has so many hours in a day.  That is fixed and limited.  Products and services …

… in the Dallas- Fort Worth area. The cuts average about 18 workers per store. If that average is true for North Texas stores, about 360 jobs would be lost here.

Wal-Mart has already closed 10 Sam’s Club locations last year, including one Houston location causing 1,500 job losses. But some analysts claim that the job losses won’t have any impact on the local or national economy because workers will be hired by Shopper Events.  I think that may be an erroneous assumption.  First of …

… $7,000 for cosmetic surgery.

If the bankruptcy fraud allegations against Hecker are found to be true, he will definitely not receive a bankruptcy discharge and he could even face criminal charges.  It’s a shame when bankruptcy fraud happens because the vast majority of debtors filing bankruptcy have no intention of defrauding the system.  Bankruptcy is a legitimate and moral way to discharge debts that you are no longer able to pay.  It’s important that debtors understand that …

… homeowners facing foreclosure.  Want to avoid scams? Then follow this cliché; but true warning: “If it’s sounds too good to be true, it probably is.” Many scammers “guarantee” that they can stop foreclosure. They are not telling the truth. Only bankruptcy is guaranteed to stop foreclosure through the automatic stay.  Also, watch out for scammers who ask for a fee or ask you to make mortgage payments to them not your lender. This past year …

… to note that student loans are nearly impossible to discharge in bankruptcy.  Therefore, if it is true that low-income students are at a higher risk of defaulting on their student loans, lower-income graduates may be facing disproportionately more risk when they take out student loans.   Those same students may find that lacking the financial literacy of their richer peers, they end up with more debt overall, including credit card debt and car loan debt, in addition to their student …

… A friend was even quoted as saying that for every dollar Lohan earns she spends two.  If that’s true, it may not be too long before we hear of a foreclosure or bankruptcy in Lohan’s future.

While we don’t know all the details of Lindsay Lohan’s finances, we do know that spending twice what you earn is a sure road to financial disaster and a sign that bankruptcy may be necessary. And if it is true that Lindsay Lohan is using credit cards and borrowing from friends to make ends meet, …

… Chapter 11 bankruptcy plan that will expedite the company’s exit from bankruptcy.  This proves true for both large and small companies.  Companies the foresee trouble and act quickly with the consensus of at least the most important creditors are more likely to exit bankruptcy as a more successful entity.