Did you know that nationwide, bankruptcy filings fell by around 182,000 in the year 2011 compared to 2010. In short, people are filing for bankruptcy less, partly because the recession of the late 2000s was waning and partly because there are more services available to help people get out of bankruptcy.
Even one of the richest celebrities in the world, Donald Trump, has filed for bankruptcy. And Donald Trump filed for bankruptcy not once, but four times total. Clearly he did something right if he is still as wealthy as he is. So if you are ever in bankruptcy danger, think of Donald Trump. There is a way out.
The Pittsburgh Penguins, one of the premier National Hockey League franchises and a perennial powerhouse, are the only sports franchise to file for bankruptcy twice, as they did so in both 1975 and 1998. Today there are a rather successful franchise, as they have won the Stanley Cup in the last 10 years and boast arguably the best player in the NHL as one of their own.
Chapter 7 bankruptcy information can be found in an array of different places, but if you want the best information, you should talk to bankruptcy attorneys. They are the foremost experts on everything to do with bankruptcy, and can help you settle your debt and avoid going without credit cards for the amount of time dictated by declaring for bankruptcy.
People often view bankruptcy as a fresh start, but in truth it does not wipe out all your debts. Chapter 13 bankruptcy is the form of bankruptcy that involves restructuring, rather than the liquidation of assets, and the debtor is usually allowed to keep most of their property.
At the end of the day, whether you need Chapter 13 bankruptcy information or Chapter 7 bankruptcy information, before you file for bankruptcy, you should talk to an attorney that is an expert on the topic so you do not make any decision that can come back to hurt you. You should always be aware there are alternatives to bankruptcy, but sometimes bankruptcy is the only thing you can do. That decision is between you and your attorney.