A Texas pastor and his wife who had been convicted of hurricane fraud in August of 2017 filed for Chapter 13 bankruptcy just a few months later in an effort to alleviate the stress of the debts they are facing. The couple stated that their debt liabilities are between $500,000 and $1 million and that their assets are worth about the same as their debt.
When Bernie Madoff was arrested in 2008 and admitted that a significant part of Bernard L. Madoff Investment Securities LLC was an elaborate Ponzi scheme, nearly 5,000 clients were affected and lost more than $50 billion, collectively. This, of course, resulted in a slew of personal bankruptcies for people who likely never dreamed they’d face bankruptcy proceedings, and a tightening of federal regulations on companies like Madoff’s.
The process of deciding on bankruptcy is personal and must be made based on the facts of your financial situation. As difficult as it is to come to terms with that decision, it is important to know the beginning of the process in order to successfully begin a new financial life.
A New Jersey man has been sentenced to 18 months in prison for concealing assets in a November 2008 bankruptcy petition he filed. Brian Young, 39, was the sole proprietor of Brys Landscaping, d/b/a AAA Interlocking Pavers, when he filed a petition for Chapter 7 bankruptcy protection in the state of New Jersey.
Lenny Dykstra had a career in baseball that spanned more than a decade with the Philadelphia Phillies and the New York Mets. He was named to multiple all-star games and served as a catalyst for the Mets winning the World Series in 1986. Yet his personal life has not seen the same amount of success. The 49 year old Dykstra has served time for grand theft auto and exposing himself to a woman