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It can actually be the start of something good.
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Your attorney should be as well.

Sports mogul Steve Donner bankrupt

Former owner of the Amerks and Knighthawks, Steve Donner filed for bankruptcy in Florida, the Democrat & Chronicle stated on July 3.

The 57-year-old sports mogul and his wife reportedly filed for Chapter 7 bankruptcy last May. Donner, who had an outstanding debt of $9.5 million, listed his two vehicles as his remaining assets of an estimated amount of $17,000. The bulk of Donner’s debt was a loan worth $8.5 million acquired from NBT Bank to finance the construction of Sahlen’s soccer stadium. Currently Steve and his spouse Lynne have listed a monthly income of $4,000. Aside from being a project manager for the Daytona Ice Arena, Donner stated recently that he works with a meat packaging firm.

Facing overwhelming debts can be frightening and make you feel helpless. However, a lawyer may offer you legal options to help you recover from your debts. Find out how the Birmingham-based lawyers at Greenway Bankruptcy Law, LLC, may work for you today by calling (205) 324-4000.

U.S. regulators considering payday loan changes

To lessen the high interest rates of short-term loans that put consumers in a debt cycle, Federal regulators said recently they are going to impose gaps between loans.

New guidelines will be issued to banks today by Federal Deposit Insurance Corp. and the office of the Comptroller of the Currency similar to early payday lending rules. In a study done by CFPB, they are also considering instigating a mandatory gap in between loans. According to the new rules, banks will now measure the borrowers’ ability to repay the loan, disclose an annual percentage rate for the loan, and wait a billing cycle to ensure the consumer will pay off old loans before getting a new one.

CFPB Director Richard Cordray said consumers are at risk in using short-term loans because it can cause long-term debts.

When facing mounting debt, it can be overwhelming and stressful, especially if you feel you have no options. However, the legal team at Greenway Bankruptcy Law, LLC, can evaluate your situation and help you choose the best option for getting out of debt. Call (205) 324-4000 today to speak with a knowledgeable representative.


Former MLB player files for Chapter 7 bankruptcy protection

Jose Canseco, a former MLB player for multiple teams including the Oakland Athletics, has filed for Chapter 7 bankruptcy protection.

Canseco, who currently plays for the Worcester Tornadoes, an independent league team, earned two World Series rings during his time in the MLB. He has also admitted to taking performance-enhancing drugs during his career.

He filed the bankruptcy paperwork in a Las Vegas, Nevada, court. His assets were listed at roughly $21,000, and his liabilities totaled almost $1.7 million. Nearly $500,000 of that liability amount is owed to the IRS.

If you are considering filing for Chapter 7 bankruptcy protection, please contact the Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

Bankruptcy case dismissed for Nadya Suleman

Nadya Suleman, as previously reported, sought the help of Chapter 7 bankruptcy last month. She filed for the bankruptcy protection but was ordered by the court to produce about a dozen extra documents pertaining to her finances.

She was given until Monday, May 14, to file this additional paperwork with the court. On Monday, there was no word from Suleman and no sign of the paperwork. As a result of missing this deadline, her Chapter 7 bankruptcy case was thrown out.

Along with the case being dismissed, the hold on the foreclosure of her house was lifted. Suleman is the mother of 14 children and has been unemployed, supporting her family with disability checks and food stamps. She has yet to comment on this recent development.

Please contact the Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 if you or someone you know has questions regarding Chapter 7 bankruptcy protection.

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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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