ABC News reports that Annie Leibovitz reached an agreement with her creditors that, at least for now, staves off the need for a bankruptcy filing. What if Annie Leibovitz had filed for bankruptcy in New York? Would she have to go through mandatory credit counseling (cost: $50) as required by the 2005 Bankruptcy Abuse Prevention …
Annie Leibovitz avoids mandatory credit counseling in New York Read More »
Previously, I posted about Lenny Dykstra and why someone like him would file for Chapter 11, which is more typically used for business bankruptcies, rather than Chapter 7 or Chapter 13 which are for individual bankruptcies. Regardless of whether it was the right path strategically speaking, things don’t seem to be going so well for …
Lenny Dykstra learns more about Chapter 11 as trustee appointed in the case Read More »
“And hey. Be careful out there.” Though I may be dating myself with a quote from Hill Street Blues (the famous urban police drama), never has it been more appropriate for New Yorkers facing unemployment, credit problems and bankruptcy than it is today. Recently the New York Times ran an article–“Online Scammers Prey on the …
You’ve probably heard by now that former New York Met star Lenny Dykstra (aka “Nails”) filed for Chapter 11 bankruptcy and all about his financial woes stemming from litigation, divorce, foreclosure, etc. But why Chapter 11? Isn’t Chapter 11 bankruptcy for companies? And don’t individuals usually file for Chapter 7 liquidation? Or maybe for Chapter …
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