Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Aaron Carter files for bankruptcy

Pop artist Aaron Carter recently sought bankruptcy protection due to a debt of more than $2 million, a majority of which was unpaid back taxes, an article from CNN reported on Friday, November 22.

According to the bankruptcy petition filed by Carter, the former teen sensation owed at least $1.3 million of unpaid taxes to the Internal Revenue Service. Aaron, who admitted to being broke, has an personal property estimated to be worth $8,200 and less than $1,000 in his checking and savings accounts.

Aaron’s publicist Steve Honig said the pop star is moving forward and this choice was a positive move for him.

Sadly, as our team at Greenway Bankruptcy Law, LLC, knows, many people in Birmingham are needlessly suffering from the anxiety of having an overwhelming amount of debt. For those in this situation, bankruptcy might be a viable option to address the debts and get a fresh financial start. Call (205) 324-4000 to discuss your financial situation and what legal options are available to you.

FDIC Regulators Close Nova Financial Bank Unit

Regulators with the Federal Deposit Insurance Corp. closed a Nova Bank unit on Oct. 26 and as a result of this closure, Nova Financial Holdings Inc. decided to file for Chapter 7 bankruptcy.

Nova announced on Oct. 30 that their board decided that liquidating their assets in a bankruptcy court will be the best options for them. The Chapter 7 bankruptcy petition was filed in the U.S. Bankruptcy Court of Philadelphia.

After the closure of the banking unit, the FDIC attempted to enlist another banking institute to receive the unit, but they were unable to. This means that the FDIC is now the receiver and that the closure may cost them more than $90 million.

Despite the bank’s progress to increase capital under a plan put in motion by the Federal Reserve Bank of Philadelphia in 2010, lawsuits filed by unhappy shareholders has made the situation more difficult.

The company attempted to settle with shareholders, but most of the settlement efforts were rejected. Other discussions on how to raise capital for the company were also rejected by interest groups.

If your business is struggling with debt, no matter the situation, you should discuss your options with experienced and knowledgeable representation. Contact the bankruptcy attorney Paula Greenway by calling (205) 324-4000 today.

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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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