Bankruptcy Alphabet – B

Bankruptcy is a fresh start for people who need relief from their financial problems. Here are terms  from the world of  bankruptcy defined by fellow attorneys around the country.

Bad Faith Filing by Miami Bankruptcy Attorney, Dorota Trzeciecka. Bailout by Jacksonville Bankruptcy Attorney, Monica D. Shepard. Bank Account by New York Bankruptcy Lawyer, Jay S. Fleischman. Bank Account by Daniel J. Winter, Chicago Bankruptcy Attorney. Bank Account by Levy Philadelphia Bankruptcy Lawyer, Raymond Kempinski. Bank Tips  by Wisconsin Bankruptcy Lawyer, Bret Nason

Bankruptcy by Taylor Michigan Bankruptcy Lawyer, Christopher McAvoy. Bankruptcy Abuse Prevention and Consumer Protection Act by Livonia Michigan Bankruptcy Attorney, Peter Behrmann. Bankruptcy Estate by Metro Richmond Consumer and Bankruptcy Attorney, Mitchell Goldstein. Bankruptcy Mill by Chicago Bankruptcy Attorney, Kyle A. Lindsey. [Read more…]

Bankruptcy Alphabet – A

Adversary Proceeding
Automatic Stay
Automatic Stay
Automatic Stay
Automatic Stay
Automatic Stay
Avoidance of Preferential Transfers

Famous Shed Debt, Move On Successfully – You Can, Too

You have plenty of good company if you are feeling alone or depressed because of debt problems.  Here is a list of some of the famous people who have filed for bankruptcy or had financial problems.  Note that many of these people had great success and fame AFTER they shed their debts.

Olympic gold medal winning gymnast Gabby Douglas‘s mother files chapter 13 bankruptcy. Wrestler Rulon Gardner, winner of the gold medal at the Sydney Olympics, filed bankruptcy after being defrauded by a business partner.

US Olympic swimming champion Ryan Lochte’s parents home is in foreclosure.

Jose Canseco, 1988 American Baseball League MVP

NFL player Warren Sapp filed bankruptcy.  His collection of 240 pairs of Air Jordan shoes are being auctioned by his bankruptcy trustee.


Donald Trump, financier; Michael Jackson, singer; Wolfgang Amadeus Mozart, composer; Kim Basinger, actress; Mike Tyson, boxer; Mark Twain, humorist; Burt Reynolds, actor;

Thomas Jefferson, patriot and president; Gary Coleman, child actor; MC Hammer, rap singer; Willie Nelson, country singer; Lorraine Bracco, “The Soprano’s” actress; Charles Goodyear, inventor of vulcanized rubber; PT Barnum, circus promoter; L. Frank Baum, author of “The Wonderful Wizard of Oz”; Mathew Brady, Civil War photographer;

Oscar Wilde, playwright; Jerry Lee Lewis, rock singer; Rembrandt, painter; Henry Heinz, ketchup magnate; Milton Hershey, chocolate magnate; Henry Ford, auto magnate; Johnny Unitas, football player; Wayne Newton, entertainer; Mickey Rooney, actor; Debbie Reynolds, actress;

John Connally, former Texas governor ; Walt Disney, creator of Mickey Mouse; Mick Fleetwood, rock singer; Merle Haggard, country singer; Ulysses S. Grant, president and Civil War general ; Dorothy Hamill, figure skater; Larry King, talk show host; Bowie Kuhn, former baseball commissioner; Stan Lee, comic book creator of “Spider Man”.

Other famous debtors in bankruptcy or having financial problems:

Lorrie Morgan, country singer; Robert Stephan, former Kansas Attorney General; Lehman Brothers Holdings, Inc., largest U.S. bankruptcy; Tribune Company, owner of Chicago Tribune, Los Angeles Tribune & other newspapers, and Chicago Cubs; Enron; Interstate Bakeries Corp., maker of Wonderbread and  Hostess Twinkies; KB Toys; General Motors; Ford; Chrysler; Linens ‘N Things;

Ed McMahon, Tonight Show host; Michael Vick, NFL football player; Dreir, LLC, law firm; Dave Ramsey, author of Total Money Makeover, radio/TV personality; Poloroid Corp.; numerous mortgage lenders; Archway Cookies; Circuit City, electronics retail stores;

Parent Co., the owner of; Bill Blass, Ltd., fashion manufacturer; Recycled Paper Greetings, Inc., 3rd largest U.S. greeting card maker; Flying J travel plazas; LyondellBasell Industries, chemical maker; Goody’s Family Clothing Inc., retail clothing chain; Waterford Wedgwood PLC, china and crystal; Creative Memories, scrapbooking; Gottschalks department stores; Merisant Worldwide Inc., Equal artificial sweetener maker;

Nortel Networks, Canadian telephone company; Minneapolis Star Tribune newspaper; Hartmarx Corp., clothier to U.S. President Barack Obama; Brighter Minds Media World of Goo computer puzzle publisher; Spectrum Brands, Inc., makers of  Rayovac batteries, Remington shavers;

S&K Famous Brands men’s clothing; Crescent Oil Company, Inc., Independence, KS, oil supplier; Muzak Holdings, LLC, maker of elevator music; Smurfit-Stone Container Corp., St. Joseph, MO, box manufacturer; My Rich Uncle, student loan lender; and Charter Communications, cable and internet.

Peanut Corp. of America, salmonella in peanut butter; Trump Entertainment Resorts, Inc., Atlantic City casinos; Forward Foods LLC, Detour bars maker; Saab, Swedish auto maker; Philadelphia Newspapers, Inc., publisher of Philadelphia Inquirer and Daily News newspapers; Ritz Camera Centers Inc.; Blockbuster, video rentals; Changing Worlds Technology, Inc., Carthage, MO, biofuels plant; Mark Shale men’s clothier; Six Flags amusement parks.

MC Hammer musician; Extended Stay Hotels, LLC; Hollywood Motion Picture and Television Museum; Eddie Bauer; Crabtree and Evelyn, Ltd., soap and toiletry retailer; Michael Jackson‘s parents, Joe and Katherine Jackson;

Photo Credit: Attribution Some rights reserved by nigelhowe

Vote for Top 100 Blawg Today

Vote for the best of the 100 best law blog sites.  Please vote for  Bankruptcy Law Network site.  Our own Jill Michaux writes for BLN, the most comprehensive consumer bankruptcy law website, which was nominated in the niche category for the 2008 American Bar Association Journal Top 100 Blawg competition.

Voting ends today, so please vote here!  Thanks.

Topeka Debtors Allowed Means Test Deduction for Cars With No Liens

EDITOR UPDATE:  This post is out of date.  Judge Karlin reverted to her original ruling in In re Law after the Pearson decision was vacated.  This issue is currently pending the the U.S. Court for the Tenth Circuit  so we should have a binding ruling soon.  December 13, 2009.

Topeka Bankruptcy Judge Janice Miller Karlin announced last week that she is reversing course and will follow the Pearson decision to allow debtors a means test deduction for ownership of a car without a debt against it.

Judge Karlin had earlier disallowed the car ownership deduction in In re Law, 2008 WL 1867971 (Bankr. D. Kan. 2008), following the decision by Kansas District Court Judge John W. Lungstrum in Wieland v. Thomas, 382 B.R. 793 (D. Kan. March 4, 2008), reversing Judge Robert D. Berger of Kansas City, KS, in In re Thomas, 2007 WL 2903201 (Bankr. D. Kan. Oct. 02, 2007). [Read more…]

Bankruptcy Income Guidelines to Increase Slightly October 1

It will be a little easier to qualify for bankruptcy relief when the income guidelines used for eligibility increase slightly on October 1.  A single Kansas earner will be able to make $894 more per year and qualify for chapter 7 bankruptcy relief.  A family of four will be allowed a $2036 more income per year in Kansas.

Here are the “means test” figures now in effect and the figures approved by the U.S. Trustee for bankruptcy cases file on October 1, 2008, or after.

  • 1 earner                       $38,594      $39,488
  • 2-person families    $52,989      $54,070
  • 3-person families    $58,075      $60,906
  • 4-person families    $69.831      $71,867
  • 5-person families    $76,731      $78,767
  • 6-person families    $83,631      $85,667
  • add $6,900 for each additional person [Read more…]

1923 Disney Bankruptcy in Kansas City

Did you know Walt Disney’s Missouri company, Laugh O Gram Films, Inc., was forced into bankruptcy in Kansas City on October 4, 1923? Fellow blogger, Rachel Foley of, and lover of all things Disney, proudly displays the bankruptcy documents in her office.

As Rachel says, “Walt went into bankruptcy with Oswald the Lucky Rabbit and came out the other side with Mickey Mouse.”

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