Long Beach Post reports that a federal judge froze $2.4 million in assets for Urban Commons Queensway founders, Taylor Woods and Howard Wu. This freeze in assets in based on Wu & Woods using COVID relief funds that were meant for the Queen Mary for "wrongful purposes." U.S. Bankruptcy Court Judge Christopher Sontchi stated [...]
Medical debt is one of the most common reasons why American's file for bankruptcy. With the rising cost of medical debt, many are looking to get help or even rid this debt by filing bankruptcy. Filing either a Chapter 7 or Chapter 13 bankruptcy can help you with your medical debt. Here's how: Chapter [...]
Bankruptcy can be considered a taboo subject because of the fears and misconceptions about bankruptcy. But sometimes people need a helping hand, and bankruptcy may be right for them. The good news is these negative stereotypes about bankruptcy are usually not true. We'll discuss some common misconceptions of bankrutpcy and the truth regarding these misconceptions. [...]
In May 2021, we reported that Real Housewives of Beverly Hills star, Erika Jayne may be brought in to her estranged husbands bankruptcy case. Now, E! News reports that Jayne is being sued for $25 million by Tom Girardi's bankruptcy trustee, Elissa Miller. This lawsuits stems from Jayne alledgedly using the funds from Girardi's company [...]
The Wall Street Journal reports that USA Gymnastics proposed a $425 million settlement in their bankruptcy. This settlement will go to the victims of former gymnastics physician, Larry Nassar. Larry Nassar is a former physician who has been accused of sexually abusing USA gymnasts as well as student athletes from Michigan State University. Victims [...]
The New York Post reveals that lawyers have collected a mere $1.4 million for the attendees of Fyre Festival after 4 years of trying to collect funds. After subtracting the funds for the legal team, attendees are to split $300,000. This will leave about 4 cents on the dollar for the ticket holders. Ticket [...]
The Hill reports that representatives from both political parties are in favor of discharging student loans in bankruptcy. Senators Dick Durban (D) and John Cornyn (R) introduced a bill aimed at repairing how student loans work in bankruptcy. Rather than free college, this idea of student loans being dischargeable during bankruptcy earns support from [...]
Fast Company shares the stories of multiple people who have filed for bankruptcy. They share why it has been the best decision they've ever made. "Clean Slate" Whitney Reynolds filed for bankruptcy in 2014 because of overwhelming credit card debt. She had racked up $23,000 of credit card debt since graduating college. Her father [...]
Sportskeeda reports that Social Gloves Entertainment may be filing for bankruptcy after failing to pay the fighters from the most recent Youtubers vs. TikTokers amateur boxing match. The headlining fight featured family vlogger Austin McBroom vs. TikToker Bryce Hall. Several other famous Youtubers and TikTokers went head to head in the boxing ring. Fans [...]
Yahoo! Entertainment reports that TanaCon organizer, Michael Weist, filed for bankruptcy after his company, Good Times Entertainment organized the failed social media convention. What Is TanaCon? Entrepreneur Michael Weist took on the last-minute social media convention, TanaCon, a convention hosted by popular YouTuber Tana Mongeau. Mongeau created TanaCon after the popular social media convention [...]
