Bankruptcy

Apparently Being a Billionaire Doesn't Guarantee a Smooth Ride Anymore. Bankruptcy Relief, Anyone?

By Joseph McDaniel, Esq.

It's an interesting list.

I knew some of the names, but not others.

And some simply seem to have had bad luck, and some discovered that even if you make a lot of money, it is entirely possible to spend more!

Now, because I'm an Arizona bankruptcy lawyer, I seldom see anybody with more debt than a few million (I think twenty million was my record this year). But obviously, even becoming very, very wealthy is no protection against insolvency.

Fortunately, there is bankruptcy, and it does provide a fairly good fresh start, although some debt can't be easily discharged in bankruptcy in Arizona.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on July 13, 2010 (boomark / email).