Category Archives: Bankruptcy
Harvey Weinstein Bankruptcy Takes Another Odd Turn
As some people know, media mogul Harvey Weinstein faces numerous credible accusations of sexual harassment and sexual assault. In response, his company, The Weinstein Company (TWC), filed for Chapter 11 bankruptcy protection. Whenever a debtor files for bankruptcy, the court enters an automatic stay that halts all collection attempts against the debtor, including lawsuits…. Read More »
A Look Back at Burt Reynolds’ 1996 Bankruptcy
Famed actor Burt Reynolds recently died. Known for his roles in the Smokey and the Bandit franchise, as well as his marriage to Loni Anderson, Reynolds also famously filed for bankruptcy in 1996. At the time, the news was shocking since Reynolds had been one of the most reliable Hollywood draws for decades. In… Read More »
How to Make Bankruptcy Go as Smoothly as Possible
Bankruptcy provides our clients with a way to get out from under mountains of debt so that they can gain some breathing room. The bankruptcy process is relatively straightforward and there is no reason to make the process more difficult than it needs be. Having helped thousands of people successfully complete bankruptcy, we offer… Read More »
Americans’ Debt Load Soars, but Experts Don’t See a Problem
As reported by the Federal Reserve earlier this month, the debt loads for Americans have once more surpassed their peak before the Great Recession. However, few experts are worried since consumers should have a much easier time managing this debt. Over $13 Trillion in Household Debt The new high of $13.3 trillion, reached in… Read More »
How to Boost Short-Term Income
When a person’s expenses exceed their income, it is natural to feel stressed. Getting out from under debt—or even buying this week’s groceries—might seem like an impossible task. Nevertheless, there are some simple ways to earn extra money that do not require that you go get a four-year college degree. Instead, try one of… Read More »
More Older Americans Are Filing for Bankruptcy
According to a new study reported in the Wall Street Journal, more Americans over age 65 are filing for bankruptcy than at any other time before. In fact, the rate of seniors filing for bankruptcy has more than tripled since 1991—a staggering fact. If you are considering bankruptcy as a senior, there are things… Read More »
Rapper Lil Kim Files for Bankruptcy
Financial troubles seem to hit the wealthy just as frequently as the average working American. In a news scoop from last month, TMZ reported that famed rapper Lil Kim filed for bankruptcy protection in New Jersey. As reported in court documents, Kim is up to her eyeballs in debt to the tune of $4… Read More »
Starting a New Business after Bankruptcy
Many of our clients here at Nowack & Olson are interested in how they can re-establish their credit after filing for bankruptcy. But our business clients often have a slightly different concern—how to start a new business soon after a business bankruptcy. Maybe you caught the bug and can’t envision working for someone else…. Read More »
Just Moved to Florida. Can I File for Bankruptcy?
People move all the time now for a variety of reasons. Maybe you or your spouse accepted a new job in Florida, or perhaps you are one of the state’s most recent retirees who have moved here to enjoy the sun in your golden years. Whatever your reasons for coming to Florida, you might… Read More »
Buying a Car After Bankruptcy
Bankruptcy provides a fresh financial start for millions of Americans. However, bankruptcy comes with a downside—shredded credit, which makes it very difficult for those who recently filed bankruptcy to get a loan, even for a necessity such as a vehicle. Unfortunately, life does not stand still after bankruptcy. People still need a mode of… Read More »