State and local borrowing amounts to only a fraction of the national debt, but while the scale may be smaller, the financial …
bankruptcy
Woman With Asperger’s Dodges Bullet on Nearly $340,000 in Student Loans
A bankruptcy judge has ruled in favor of a Maryland resident who claimed she could not repay her student loans because her Asperger’s syndrome prevents her from holding a job.
Was it Smart for ‘Octomom’ to Declare Bankruptcy?
Nadya Suleman has made no secret of her financial troubles, which came to a head this week when the “Octomom” filed for bankruptcy. The mother of 14 owes creditors nearly $1 million, court papers showed, roughly 20 times as much …
Bankruptcy at 30,000 Feet: The Battle for the Future of American Airlines
What would you call the combination of US Airways with American Air? US American Airways? It’s redundant, in the same way that airline service is a contradiction in terms. But a merger between the two is slightly more likely …
Mortgage-Skipping Masters: Couple Lives in $1.29 Million Home Without Making Payments for 5 Years
Guess what happens when you stop paying the mortgage? For quite some time, the answer is: Nothing much. In many states, while the foreclosure process drags on for years, homeowners who have stopped paying their bills can live in …
Top 9 Celebrity Bankruptcies
Why Can’t You Discharge Student Loans in Bankruptcy?
If you’re struggling to pay credit card debt, car loans or even gambling debt, you can wipe the slate clean in bankruptcy. Struggling to pay your student loans? Sorry, you’ll just have to figure that one out on your own.
Hostess, Maker of Twinkies, To File For Bankruptcy
Talk about sweet sorrow: Hostess Brands, manufacturer of lunchbox staples like Twinkies, Hohos and Ding Dongs, is planning to file for bankruptcy this week, the Wall Street Journal reported Tuesday. The company, which also makes …
American Airlines: Bankrupt Companies Are Healthier Than They Used to Be
Having $4 billion in the bank is not your typical definition of broke. That’s why American Airlines’ parent company AMR surprised a bunch of people — particularly, one presumes, the five Wall Street analysts who still rated …
Why the American Airlines Bankruptcy Won’t Affect Your Holiday Travel
Just weeks before one of the busiest travel times of the year, American Airlines’ parent company filed for bankruptcy protection. But don’t worry: Your plans to head home for the holidays aren’t likely to be interrupted.
What Separates A Pro Athlete From His Money?
When Michael Vick declared bankruptcy, it raised our eyebrows. Sure, we knew his legal defense against dogfighting charges would have cost a lot of money, but not THAT much money. He, like a host of other visible athletes, made …
If a Town Can Go Bankrupt, Why Can’t the U.S.?
On the heels of a federal debt deal that no one really wants comes news that tiny Central Falls, R.I., (population: 18,716) has landed in bankruptcy court. City fathers cannot pay retirement benefits promised to municipal …
