New Jersey Man Pleads Guilty to Hiding Assets in Bankruptcy

A contractor from Ocean County, New Jersey, admitted earlier this month to concealing assets in his 2008 bankruptcy case. He pleaded guilty to the charge in front of a U.S. District Court judge in Newark. The contractor is currently awaiting sentencing for the crime. Some of the items that were concealed included $174,865 in financial……
Read More

Subprime Credit Offers Up as Recession Wanes

A New Jersey pastor garnered national attention recently when he collected unsolicited credit card offers from his congregants, put them in a vessel, and set them on fire in front of the church.

It’s Chapter 7 for Former Black Eyed Peas Manager

Contrary to popular perception, bankruptcy isn’t only for people who are just scraping by. Even very wealthy people can get to a point where their assets are outweighed by significant debts. Take, for example, the case of former Black Eyed Peas business manager Sean Larkin. As part of his contract with the pop group, he……
Read More

U.S. Foreclosures Down in First Quarter of 2012

New data shows that total U.S. foreclosure filings hit their lowest point since 2007 during the first quarter of 2012. 2007 is generally considered to be the year when the economic crisis began. All told, there were approximately 573,000 foreclosure filings in January, February and March 2012, an 11 percent drop from the same period……
Read More

Real Life ‘Jerry Maguire’ in Bankruptcy

At one point, Leigh Steinberg was probably the most famous agent in all of professional sports. He even served as the model for Tom Cruise’s character in the movie “Jerry Maguire.” Unfortunately, as has happened to so many people, Steinberg fell on hard times. He made some bad investments, lost two homes to mold and……
Read More