Posted on Sunday, December 1st, 2013 at 5:16 pm
After accumulating a debt of more than $2 million, former teen sensation Aaron Carter recently sought bankruptcy protection, a report from CNN stated on Friday, November 22.
According to the article, majority of Carter’s debt was $1.3 million of unpaid taxes owed to the Internal Revenue Service, which accumulated over 10 years ago. Carter allegedly admitted that he is broke, citing his assets to be worth less than $10,000.
Aaron’s publicist Steve Honig said the pop singer is making the right decision for him to move forward.
The legal team at the Russell Van Beustring P.C., helps people in Houston with burdensome debts seek the bankruptcy protection they need. Find out how we may be able to help you get relief from overwhelming debt by calling 713-973-6650.
Posted on Friday, July 26th, 2013 at 1:25 pm
Former National Football League quarterback Vince Young recently had a large number of his personal possessions seized to pay for a $1.7-million loan.
According to Houston’s KHOU 11 News, Harris County constables have been to Young’s home to make an inventory of the NFL star’s valuables, which include furniture, jewelry, and art. All of his personal property, save for $60,000 worth of possessions, will be sold at a private auction to get funds to pay back the loan.
Young has said he didn’t understand the implication of the loan until the company that he got the loan from in 2011 sued him. He also stated that his financial adviser deceived him when obtaining the loan.
Facing the loss of your property, such as your home and vehicles, to overwhelming debts is stressful and worrisome. Fortunately, at the Russell Van Beustring P.C., our lawyers can help anyone in Houston with insurmountable debts evaluate their financial options. Call 713-973-6650 to learn about debt settlement or filing for bankruptcy.
Posted on Monday, May 6th, 2013 at 9:39 pm
New Braunfels, Texas-based Scooter Store Holdings, Inc., which is currently undergoing a financial restructuring, is not letting bankruptcy get in the way of its normal, day-to-day operations. However, the company still expects to report some losses.
Facing debts of more than $50 million, The Scooter Store is planning to sell all its assets, which total less than $10 million, but continue selling it’s power wheelchairs.
According to CEO Marty Landon, the purpose of April 15’s Chapter 11 bankruptcy filing was to search for a financially-healthy provider.
The company is going to hold on to its 300-strong workforce, which in earlier years reached more than 2,400.
The Scooter Store’s headquarters was raided by around 150 federal agents last February, saying the company has been the subject of a civil investigation for many months now, in regards to its “former business practices, including billing and reinforcement procedures.”
Chapter 11 bankruptcy can be an extremely helpful way to overcome a large amount of debt. If your company is in such a situation, call 713-973-6650 today to speak with the legal team at the Russell Van Beustring P.C., about your legal options for getting out of debt.