Posted on Wednesday, August 1st, 2012 at 9:34 pm
Yesterday, the Las Vegas Sun reported that former Oakland Athletics baseball payer Jose Canseco filed for Chapter 7 bankruptcy protection in Nevada. While with the Athletics, Canseco was named Rookie of the Year and American League MVP.
The 48-year-old has nearly $1.7 million in liabilities and less than $21,000 in assets, according to his bankruptcy filing. More than $500,000 of his debt back taxes owed to the IRS. Canseco will liquidate his assets through Chapter 7 bankruptcy to help pay off his debt.
Canseco had a 16-year career with a total of eight major league teams, though he later admitted to using performance-enhancing drugs.
If you are unsure if you qualify for Chapter 7 bankruptcy, consider answering the Chapter 7 means test. For trusted, experienced advice on your bankruptcy needs, contact the attorneys at the Law Office of Russell Van Beustring, P.C., by calling 713-973-6650.
Posted on Monday, May 21st, 2012 at 8:17 pm
Last week the Orange County Register reported that Nadya “Octomom” Suleman’s Chapter 7 bankruptcy case was thrown out of court after she failed to file at least a dozen documents proving she is $1 million in debt.
The court notified her of her error, but after she failed to make the deadline her case was dismissed. Suleman’s request for bankruptcy protection temporarily halted foreclosure on her La Habra home, but now that her case has been thrown out, the foreclosure process is now allowed to move forward.
This means that other creditors can now start claiming the money they are owed.
If you have questions regarding the qualifications for Chapter 7 bankruptcy, contact the Chapter 7 bankruptcy attorneys from the Law Office of Russell Van Beustring, P.C. today at 713-973-6650.