bankrupt

Bankrupt is a state of being legally declared incapable of paying off creditors. Individuals and businesses can go bankrupt but it must be applied for to the courts. A legal action must take place to be sure the debtors' creditors get repaid as much as possible for their outstanding balances.


Bankrupt individuals, once legally declared, will have their credit rating affected for approximately seven years after the declaration. After that point, it is possible for the debtor to begin to re-earn credit.

Bankruptcy is most often filed by the debtor but in extreme cases, creditors have filed "involuntary bankruptcy" against the debtor and been successful. This is a lengthy process and the case must be severe, meaning extremely large amounts of monies owed.

You'll find bloggers talking about bankruptcy at sites like Credit Slips and Economic Policy Journal.

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Original Technorati articles tagged “bankrupt”

• in Finance
  Retirement at Rainbows End?
  Retirement dreams in tatters for dozens of gay retirees!
  by jasonshaw99 / on Oct 30, 2011

Latest blogosphere posts tagged “bankrupt”

 

• Financial Questions

  
  IVA UK Information Centre — Authority: 126
  I get asked many questions about bankruptcy and the collecting of debts, but sometimes they are from the Dark Side of the Force; people looking to collect a debt or make someone bankrupt. I do help where I can and thought it might be good to address some of their questions here. One question is: [...]
  1 day ago

• It’s a real conundrum for Newt now

  
  Firedoglake — Authority: 608
  Valentine’s Day is only 8 days away and it appears he will be on a fixed budget. Plus it will be hard to get that Tiffany’s account renewed. Might I suggest something classy (and by classy, I mean cheap)? And at $20 bucks a piece you can afford to pick up another here and there for any new prospects before ...
  3 days ago

• Celebrities And Bankruptcy

  
  IVA UK Information Centre — Authority: 126
  I read where a couple of years back Master Chef Gordon Ramsay was advised to go bankrupt; apparently his up-scale restaurants have been hit hard by the economic downturn. I personally have never eaten at one of Gordon’s restaurants, but I can imagine the food to be good, and not cheap. But with that being [...]
  5 days ago

• Kodak Trying To Get Its Name Removed From Kodak Theatre

  
  PetaPixel — Authority: 692
  Kodak Theatre , the famous theater on Hollywood Boulevard that hosts the Academy Awards, may soon have a different name. As part of its recent bankruptcy filing , Kodak is now trying to get out of the 20-year, $75-million-dollar naming rights contract it signed back in 2000. The theatre’s about page states, The ...
  5 days ago

• Hungary’s airline Malev grounded

  
  top99news - breaking news from the world top newspapers — Authority: 166
  http://www.guardian.co.uk Hungary’s airline Malev grounded Bankrupt Hungarian flag-carrier Malev grounds fleet after two aeroplanes seized, as Ryanair and other budget carriers announce new routes to BudapestHungary’s dire financial predicament was laid bare today when its national airline Malev went ...
  6 days ago

• Being Self-Employed And In Debt

  
  IVA UK Information Centre — Authority: 126
  We have always received many calls and emails from people who are self-employed and are experiencing debt issues. And now with this ‘credit crunch’ going on, the numbers of people who are self-employed and are asking for assistance seems to have gone up a notch. When I am speaking with someone who is self-employed ...
  6 days ago

• Bankruptcy Leave 341 Russians Stranded in Pattaya

  
  AIT News, Thailand news — Authority: 133
  Pattaya police arrested Russian Mrs. Olga Shendrik owner of the bankrupt Lanta Tour Thai International Co., Ltd. and provided assistance to the 341 stranded Russian holidaymakers in Pattaya. Pattaya, January 31, 2012 [PDN]; Pol. Lt. Gen. Dr. Panya Mamen Commissioner of Region 2 Police and Pol. Maj. Gen. Jamnong ...
  6 days ago

• UK NEWS: FORMER T4 PRESENTER MIQUITA OLIVER FILES FOR BANKRUPTCY

  
  MAD NEWS — Authority: 120
  Miquita Oliver It has been reported that former T4  presenter Miquita Oliver (27) has filed for bankruptcy. Oliver first got her big break on television (thanks to being well-connected) at the age of sixteen when she was chosen to c0-host hit Channel 4 music show Pop World  alongside Simon Amstell. She ...
  6 days ago

• Another Option With Debt

  
  IVA UK Information Centre — Authority: 126
  The option of doing nothing or running away. Do nothing, yes do nothing; don’t pay the debts and see what may or may not happen. In explaining people their options with their debts, one option I do offer to some clients is the option of doing nothing. Now this is not a good option for [...]
  6 days ago

• Ben Warns More Helicopter Drops May Be Necessary

  
  In These New Times — Authority: 120
    Watch out everyone- we’re in for “a period of balance-sheet adjustment” ForexPros 2nd February, 2012 In a surprisingly (but also refreshingly) candid admission, Fed Chairman Bernanke declared last night that another round of quantitative easing may well be necessary to alleviate “high and persistent ...
  6 days ago

• Bankruptcy Fees

  
  IVA UK Information Centre — Authority: 126
  As more people file for bankruptcy I receive more and more queries regarding the costs involved in going bankrupt. I know it seems a bit silly, here I am insolvent, cannot meet my obligations and I have to pay the courts to become bankrupt, but it is a fact. The fees for filing for bankruptcy [...]
  6 days ago

• Been through four booms and five busts here …

  
  Homeless on the High Desert — Authority: 118
  We’re not even close to the bottom:  The U.S. Census Bureau reported Tuesday that the nation’s homeownership rate fell to 66% in the fourth quarter, continuing a seven-year drop from a fourth-quarter peak of 69.2% in 2004. At the same time, U.S. home prices fell 1.3% in November from October and were 3.7% below ...
  1 week ago

• The stupid, it just burns …

  
  Homeless on the High Desert — Authority: 118
  How Thick Is Your Bubble? Or: White People, Please Get It Together Bizarre stuff in today’s Bend Bullshiten from bubble-encased  NY Times  columnist David Brooks, who  says  we must all read Charles Murray’s  Coming Apart  so we can understand that what’s  wrong  with America isn’t gross ...
  1 week ago

• Juxtapose this … 2

  
  Homeless on the High Desert — Authority: 118
  “We hold these truths to be self-evident, that all men are created equal…” – Thomas Jefferson, July 4, 1776 “Four score and seven years ago our fathers brought forth on this continent a new nation, conceived in liberty and dedicated to the proposition that all men are created equal.” – Abraham Lincoln, ...
  1 week ago

• Juxtapose this …

  
  Homeless on the High Desert — Authority: 118
  Out here where people think , the air is clean and the water not Ambien , Prozac , Viagra and crotch-shots on Fox television Kool-Aid, yesterday the Washington state Senate approved marriage equality, meaning certain passage of the bill . Meanwhile, down in the shithole of “America”:  Alabama State Senator ...
  1 week ago

• Detroit calls emergency budget meeting to avoid emergency state takeover, not enough council members show up to hold the meeting

  
  Bluegrass Pundit — Authority: 548
  Do you need to ask why Detroit is in an emergency situation now? I didnt think so. A critical Detroit City Council meeting this afternoon to debate widespread, painful cuts in a last-minute effort to avoid an emergency manager ended abruptly because not enough council members showed up. The 1 p.m. meeting ...
  1 week ago

• Kodak requests name be removed from Oscars venue (Reuters)

  
  GOSSIP, CELEBRITY NEWS — Authority: 136
  Reuters – Eastman Kodak Co has asked the U.S. bankruptcy court to void an estimated $4 million-a-year contract to have its name on the Hollywood theater that hosts the Oscars as the bankrupt photography company tries to reduce its debt. See more here: (Reuters)"> (Reuters)">Kodak requests name be ...
  1 week ago

• The New Egypt: Bankrupt and Sinking Fast

  
  Jesus Lives! — Authority: 133
  From American Thinker.Com February 1, 2012 By Rob Miller All hail the wondrous Arab Spring! It is one year ago today that the protests in Cairo’s Tahrir Square began, ending in the fall of the Mubarak regime.  It was fitting that President Obama mentioned it at the State of the Union , since he ...
  1 week ago

• What You Must Recognize Whenever Filing For Bankruptcy

  
  Financial Newsline — Authority: 135
  For any person dealing with the prospect of individual bankruptcy, it is a daunting prospect, and something which usually has a lot of questions and uncertainties about the course of action, and how this unfortunate circumstance can affect your lifestyle. You could be shocked that filing for bankruptcy isn’t as ...
  1 week ago

• Peoples Republic of California running out of money again

  
  Bluegrass Pundit — Authority: 548
  Californias sham budget is crumbling due to lack of funds. Smoke and mirrors only last a short time. (SacBee) — California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller John Chiang ...
  1 week ago

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