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T-Boz’s bankruptcy dismissed, creditors may claim singer’s assets

This month, Judge James R. Sacca of the U.S. Bankruptcy Court in Atlanta, Georgia dismissed TLC singer T-Boz’s third bankruptcy filing. The singer filed for Chapter 13 bankruptcy in October, listing more than $700,000 in debt.

Girl group TLC filed for Chapter 11 bankruptcy in 1995, and T-Boz filed for bankruptcy for a second time last February. Her second filing–a Chapter 13 filing–was also dismissed, leading her to refile in October.

The judge threw out T-Boz’s latest Chapter 13 bankruptcy because creditors reported that she had made no payments, had not showed up for meetings with creditors, and had not filed certain required paperwork. The singer can once again refile for bankruptcy 180 days after her case was dismissed.

Since T-Boz is no longer protected by bankruptcy, her creditors may attempt to claim some of her assets. If you or someone you know is facing repossession or debt collector harassment, contact the Birmingham Chapter 13 lawyers of Greenway Bankruptcy Law, LLC to learn more about preventing repossession.

Former state representative files for bankruptcy

Former Alabama State Representative James Gordon recently filed for bankruptcy protection for himself and his business, the Alabama Injury and Pain Clinic.

The business filed for Chapter 11 bankruptcy in hopes of reorganizing and continuing operations. Gordon also filed for personal bankruptcy, choosing Chapter 13 bankruptcy. Under Chapter 13, the former representative will pay back creditors according to an established repayment plan and timeline.

According to Gordon, the business and his personal finances suffered as a result of the economic recession and his time spent away from the Alabama Injury and Pain Clinic while in office.

If you or someone you know is seeking experienced legal representation to assist you in filing for Chapter 13 bankruptcy and establishing a repayment plan, contact the Birmingham Chapter 13 repayment plan attorneys of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.

Bankruptcy filings decrease in year ending June 2011

Recent figures from the Administrative Office of the U.S. Courts reveal that total bankruptcies filed in the U.S. in the year ending June 2011 decreased by 2.7 percent.

In addition, the figures detail the decreases in each individual chapter of bankruptcy.  Chapter 13 bankruptcies declined by the smallest amount  in the year ending June 2011 with a 2 percent decrease.  Chapter 7 filings decreased by 4 percent, Chapter 13 filings decreased by 9 percent, and Chapter 11 filings decreased by 11 percent.

75 out of 94 districts in the U.S. experienced decreases in bankruptcy filings.  Districts that saw increases in bankruptcy filings included the Southern District of Florida and the Central Districts of California and Utah.

If you or someone you know wants to learn more about Chapter 13 bankruptcy eligibility in Birmingham, contact the Birmingham Chapter 13 bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 and set up an appointment to speak with one of our attorneys today.

Study finds African-Americans more likely to file Chapter 13 bankruptcy

A recent study that was released by the Woodstock Institute in Chicago found that black people are much more likely to file for Chapter 13 bankruptcy than white people, who are more likely to file for Chapter 7 bankruptcy.

The study found that almost half of the black residents in Chicago who had filed for bankruptcy had filed for Chapter 13 bankruptcy. Of the white residents in the same area who filed for bankruptcy, only 22 percent filed for Chapter 13 bankruptcy.

Some have attributed the findings to misinformation that is given to black people when they are filing for bankruptcy and have said that some agencies may deliberately offer Chapter 13 bankruptcy because it generally costs more for the filer.

There are benefits to filing Chapter 7 bankruptcy and Chapter 13 bankruptcy, depending on your needs. To discuss your financial situation with an experienced lawyer, please contact the bankruptcy lawyers Birmingham of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Dr. Phil’s Designer Retracts Bankruptcy Filing

The former interior designer for Dr. Phil recently retracted a Chapter 13 bankruptcy filing that she had filed in November 2010. The designer claims that she was forced to do so because of a financially-draining legal battle that she is currently involved in against Dr. Phil.

Under Chapter 13 bankruptcy, people are able to create a payment plan to pay off their debt without having to auction off their assets. The designer’s lawyers said that the legal team of Dr. Phil placed so many financial strains on the designer that she was unable to create a plan to pay off her debt.

By retracting her Chapter 13 bankruptcy filing, the designer will remain in debt during her legal battle with Dr. Phil.

If you or someone you love is facing financial trouble and would like more information on what the benefits are of filing for Chapter 13 bankruptcy, please contact the Birmingham Chapter 13 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Orleans Homebuilders seeks $155 million loan

Orleans Homebuilders, the Bensalem, Pennsylvania-based company, filed for bankruptcy protection last March after defaulting on a credit facility. This week, the company sought court approval for a $155 million loan that would help it emerge from bankruptcy.

The loan would be composed of a $125 million term loan and a revolving credit of $30 million.

JPMorgan Securities LLC is the sole lead arranger and bookrunner for the financing.

If you are facing bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

Surge in Consumer Bankruptcy Filings

Despite the recent economic upturn, consumer bankruptcy filings have not slowed. In February, bankruptcy filings were up 14% compared to the previous year. The number of bankruptcy filings in February increased by a total of 9% from January’s, indicating a uncomfortable trend.

Increased debt-stress from years of overspending is catching up with individual consumers, causing this increase in Chapter 7 bankruptcy filings, according to Samuel Gerdano, American Bankruptcy Institute executive director.

While the stricter bankruptcy laws implemented in 2005 were meant to cause more families to rely on Chapter 13 bankruptcy, which would require those with a regular income to repay debt in full or in part over several years, the number of the Chapter 13 filings has actually decreased 3% compared to this time last year.

If you are suffering financial difficulties and need consultation in regards to filing for Chapter 13 or Chapter 7 bankruptcy, contact Birmingham bankruptcy lawyer Paula Greenway at (205) 324-4000.

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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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