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BK7.com - Bankruptcy Questions, Answers, & News | Bankruptcy Chapter 7, 11, 13 -- Information and Resources
Gary Busey at the MTV Movie Awards

Top 5 Ways Stars Lose it All: Lifestyles of the famous and bankrupt

Last week Gary Busey passed a mandatory online financial management course in an attempt to convince a U.S. Bankruptcy court he’ll start sensibly managing his money. The veteran actor recently filed for Chapter 7 bankruptcy. But in Hollywood, going broke is just about as as common as a leaked nude photos; just ask Toni Braxton, [...]

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Bank of America

BofA stops foreclosure sales in 50 states

WASHINGTON – Bank of America Corp., the nation’s largest bank, said Friday it would stop sales of foreclosed homes in all 50 states as it reviews potential flaws in foreclosure documents. A week earlier …

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MGM 4 Billion Debt – Bankruptcy Looms

Metro-Goldwyn-Mayer Inc. said it has begun seeking its creditors’ approval on a prepackaged bankruptcy plan in which they will exchange more than $4 billion in debt for equity in a new company that has rights to the James Bond franchise and the upcoming two-part movie series “The Hobbit.”

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What Is Chapter 7 Bankruptcy?

Simply stated filing bankruptcy is a legal way to eliminate or reduce your bills. Bankruptcy is referred to in the Bible and was included in The United States Constitution. Our economy would break down if individuals and companies were unable to eliminate debt under appropriate conditions. The federal court system is exclusively used for bankruptcy [...]

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