Tag Archives: bankruptcy

student loan

Student Loan Relief: Bill Could Allow Bankruptcy Discharge

Borrowers might get some relief with proposed legislation

New bill calls for reducing student costs and makes it mandatory for colleges to make…

By Sheiresa Ngo

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credit cards

Personal Finance Word of the Day: Meeting of Creditors

Your daily money bite

Even though it’s called a meeting of creditors, the creditors rarely attend

By Sheiresa Ngo

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The Japan-based cryptocurrency exchange filed for bankruptcy after losing $473 million in bitcoins.

Mt. Gox Goes Bankrupt, Losing Nearly 750,000 Bitcoins

The Bitcoin exchange company, Mt. Gox, has filed for bankruptcy protection but the feds are still looking into investigating its business practices

The feds are still looking into investigating its business practices

By Patrick Austin

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Detroit Bankruptcy Turns Spotlight to Business Development

Detroit Bankruptcy Turns Spotlight to Business Development

Private sector Marshall's on as city faces harsh financial realities

The City of Detroit’s filing of Chapter 9 bankruptcy may be a blessing in disguise…

By C. Daniel Baker

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sinbad-talking

Not a Joke! Comedian Sinbad Files For Bankruptcy

It's the comedian's second time doing so

It’s ‘A Different World’ for Sinbad as he is now flat broke.

By Cedric 'BIG CED' Thornton

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dionne-warwick-smiling

How Do The Rich And Famous End Up Broke?

The same way you do. Except your money troubles don't get put out on Front Street by everyone from CNN to TMZ.

It’s a familiar story: professional athletes, superstar entertainers and other famous celebrities losing their homes,…

By Alfred Edmond, Jr.

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New York Soul Food Hot Spot Files for Bankruptcy

Popular New York Soul Food Hot Spot Files for Bankruptcy

Pink Teacup saga continues as new location files for bankruptcy

When the eatery moved last year to its latest location, it did not have a…

By C. Daniel Baker

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Proposal Bans Welfare Recipients from Buying Lottery Tickets

Do you think this is fair?

North Carolina lawmakers draft legislation banning welfare recipients from playing the lottery

By Makkada B. Selah

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dourdan

Gary Dourdan of CSI Files for Bankruptcy

The actor says he only has $321 a month in disposable income

The actor says he only has $321 a month in disposable income

By Makkada B. Selah

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toni-braxton

Toni Braxton Accused of Fraud

Court documents say the R&B star gave over $50,000 to avoid paying money she owes

Court documents say the R&B star gave over $50,000 to avoid paying money she owes

By Gene Demby

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Antoine Walker wants to help other athletes avoid a similar fate.

Antoine Walker: 110 Million Dollars Blown, Bankrupt

How he lost it all in 12 Years

Antoine Walker, a former All-Star and NBA Champion, recalls his rode to bankruptcy in an…

By Sasha King

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michael-vick-sad

Michael Vick Has Spent $29 Million Since 2008 Bankruptcy Filing

Eagles quarterback has struggled to hold on to his money in last 4 years

Eagles quarterback has struggled to hold on to his money in last 4 years

By Sasha King

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Former NFL star receiver Andre Rison talks about his financial difficulties in the film Broke.

Film Producer Alfred Spellman Talks ESPN Doc on ‘Broke’ Athletes

Documentary highlights the challenges of fame and fortune in sports

Filmmaker Alfred Spellman talks race, fame and power in sports— and how easy it is…

By Darren Sands

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Warren Sapp

Warren Sapp Catches a Break in Bankruptcy Case

A federal judge discharged the former sack master from his bankruptcy case

A federal judge discharged the former sack master from his bankruptcy case

By Darren Sands

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No one will soon forget Terrell Owens's memorable, "Getcha popcorn ready" quote.

5 Black NFL Players That Have Gone Broke

Bad business decisions, drugs and just plain foolishness have lopped off zeros from these athletes' bank accounts

According to Sports Illustrated, 78% of NFL players are bankrupt or in financial distress just…

By Demetria Irwin

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Startup Lessons from an NFL Coach

Former Player Prepares Athletes for Success in Franchising Post-Retirement

Pro athletes get valuable financial advice on franchising from former NFL player Anthony Simmons

Former NFL player Anthony Simmons’ bi-annual Franchise & Investors Show provides pro athletes with tools…

By Branden J. Peters

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single-black-women-debt-bankruptcy

The Harsh Reality Of Single Black Women And Bankruptcy

Study shows the racial wealth gap is still alive

Study shows the racial wealth gap is still alive

By Black Enterprise

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blacks-bankruptcy-racial-bias

More Black Women Going Bankrupt [Report]

Studies show that black women continue to fall short financially in comparison to their white counterparts

Studies show that black women continue to fall short financially in comparison to their white…

By Black Enterprise

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Notorious B.I.G. once rhymed, "There’s rules to this stuff. I wrote me a manual."  Though it applied to a different type of game, Christopher Wallace was on to something. Now that the 2012 NFL Draft is over, many players will need a guide to  keep them out of the gossip blogs, tabloids, and bankruptcy courts. We’ve seen so many athletes come into the NFL broke and leave in the same way. It’s a cycle we must stop. So, before these athletes get caught up, perhaps they should read The Five Draft Commandments. (What!) ---Christian Law


Left, 2012 NFL First-round draft pick Fletcher Cox of the Philadelphia Eagles (Photo by Hunter Martin/Philadelphia Eagles/Getty Images)

New Money: The Five (NFL) Draft Commandments

Rookies should heed these rules of finance and life to avoid pitfalls

With the 2012 NFL Draft complete, here are some rules of money (and life) that…

By Christian Law

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Advocacy Releases Annual Small Business Lending Report

Ask the Money Coach: How to Improve Your Finances in 2012

What money questions you should ask yourself as you head into 2012

The Money Coach Lynnette Khalfani-Cox tells you what money questions you need to ask as…

By Lynnette Khalfani-Cox

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The Truth About Bankruptcy: Why All Your Debts WON’T Go Away

What you need to know before you file

While it’s true that Chapter 7 bankruptcy can wipe out many consumer debts, such as…

By Lynnette Khalfani-Cox

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(Image: Thinkstock)

In the News: Florida Drug Tests Welfare Recipients; Fewer Americans File Bankruptcy and More

Headlines around the web

Florida governor Rick Scott forces welfare applicants to submit to drug tests as a way…

By Janel Martinez

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Braxton-Family-BraxtonFamilyValuessTV-050411-Large

Braxton Family Values: Highlights of Love and Money Among Sisters

Toni Braxton and her superstar family on 'new money' and financial marital woes

Toni Braxton and her superstar family on ‘new money’ and financial marital woes

By Janell Hazelwood

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MC-Hammer-300x232

MC Hammer Talks Social Media Interests, Getting through Bankruptcy and Web Influence

Digital enthusiast uses social media to diversify and connect with new audiences

Digital enthusiast uses social media to diversify and connect with new audiences

By Janell Hazelwood

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Toni-Braxton-300x232

Toni Braxton: On Bankruptcy, Beating Her Illnesses and the Braxton Family Values

The singer speaks candidly about coming back from the (financial) brink, and facing her new 'reality'

The singer speaks candidly about coming back from the (financial) brink, and facing her new…

By Kenya N. Byrd

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4 Things You Might Not Know About Credit

Think you know everything about credit? You might be surprised by these overlooked options

How much do you know about credit? Below are four things you might not be…

By Sheiresa Ngo

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Take control of debt. “The rich rule over the poor, and the borrower is servant to the lender.” —Proverbs 22:7

Opinion: Student Loans Should NOT Be Discharged in Bankruptcy

Students in financial trouble do deserve a break. But bankruptcy is not the answer

The last thing a young person needs on their credit report coming out of college…

By Alfred Edmond, Jr.

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graduationeducation

Opinion: All Student Loans Should Be Discharged in Bankruptcy

Students in financial trouble deserve a break.

For many of you, student loans were a necessary evil that have remained a thorn…

By Sheiresa Ngo

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4 Credit Reporting Myths and Realities

Arm yourself with the right information

If you plan to make a big purchase in the near future, it’s important to…

By Sheiresa Ngo

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6 Ways To Know When Enough Is Enough

A never-say-die mentality doesn't mean never changing your mind about what's worth fighting for

Despite the mantras of “Never give up” and “Keep fighting” that many achievers subscribe to,…

By Tamara E. Holmes

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Billions in Wealth Lost Since Foreclosure Crisis Began

African American communities to lose $193 billion by 2012

Communities of color have lost billions in wealth since the current foreclosure crisis began, according…

By Deborah Creighton Skinner

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Ask Your Advocate: Can I Be Taxed On a Canceled Debt?

The IRS has a few stipulations

I had a portion of my debt canceled after working out a debt settlement. A…

By Sheiresa Ngo

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Letting Go

Nobody wants to walk away from a dream, but sometimes you just might have to

Despite the mantras of “Never give up” and “Keep fighting” that many achievers subscribe to,…

By Tamara E. Holmes

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Ask Your Advocate: Can Unemployment Lead to Bankruptcy?

I’ve been unemployed for the last six months, and I’ve spent most of my emergency…

By Sheiresa Ngo

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MediaNews Parent Seeks Turnaround In Bankruptcy

SAN FRANCISCO (AP) — Another newspaper publisher desperate to dump debt has filed for bankruptcy…

By Associated Press

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MediaNews Parent Files For Chapter 11 Protection

SAN FRANCISCO (AP) — The owner of The Denver Post, San Jose Mercury News and…

By Associated Press

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ARMed And Dangerous? Don’t File For Bankruptcy

An adjustable rate mortgage can turn a Chapter 13 filing from bad to ugly

Just got a phone call from a couple thinking of filing Chapter 13 bankruptcy. …

By Kirk Charles

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Consumer Advocates Fighting Against ‘Legal Loan Sharking’

Payday lenders face regulation, congressional scrutiny

Take a walk through any predominantly black or Latino neighborhood and the signs are unavoidable:…

By Renita Burns

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Committee Weighs Options to Improve Access to Capital

Small businesses seek more lending choices in tight market

A Congressional panel convened a hearing last week to explore ideas about how to improve…

By Joyce Jones

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Chrysler Wins Plea to Shutter 789 Dealerships

Judge makes dealer closings and Fiat sale a done deal

Fiat gained ownership of most of Chrysler L.L.C.’s assets Wednesday, a day after a bankruptcy…

By Marcia Wade Talbert

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When Bankruptcy is Best

Know when to consider Chapter 11 protection

Chrysler and General Motors have done what was previously unthinkable – filed for bankruptcy. Even…

By Cliff Hocker

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What You Should Know Before Filing for Bankruptcy

Bankruptcy has gotten more difficultand expensive.

It was the daily flood of phone calls that finally did it. They became so…

By Ilana Polyak

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What You Should Know Before Filing For Bankruptcy

Proceed with caution. We’ll give you the tools you need so that you can make…

By Ilana Polyak

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Maxine Waters Gives an Update on the Bailout

Yesterday, while walking around the Congressional Black Caucus Foundation’s Annual Legislative Conference, I ran into…

By Marcia Wade Talbert

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Feeling the Pinch

Vallejo bankruptcy filing may be the tip of iceberg

Encumbered with ballooning labor costs and years of recurring debt that led to a $16…

By Aisha I. Jefferson

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