Recently in Other Bankruptcy News Category

Bankruptcy is full of difficult choices, the first of which involves choosing the right lawyer for you and your case.

Without the right guidance, you could end up with an attorney who's overextended or inexperienced. That's why we've put together five tips to help you find the bankruptcy lawyer who's right for you.

Bankruptcy is supposed to be a fresh start but certain kinds of debt, most famously student loans, just won't go away.

The biggest benefit of bankruptcy is that most of your debt is cancelled by the end of the process. But if most of your debt falls under the category of "nondischargable," then filing may not help.

Before you make a final decision about bankruptcy, it's a good idea to talk to an attorney about your specific situation. But to get you started we put together a list of debts that you'd still be stuck with after bankruptcy, regardless of whether you choose Chapter 7 or Chapter 13.

It's no secret that bankruptcy is bad for you financially, but it's not always clear how much it will affect your credit score.

Your credit score is what financial institutions and landlords use to evaluate if it's a good idea to make agreements with you involving money. So knowing how to keep the numbers up is very important.

If you're considering filing bankruptcy or you already have, it's important to know what to expect when it comes to your credit score. It may not be happy news, but not knowing the facts will only make things worse.

Toni Braxton has sold more than 40 million albums during her music career, but has racked up a staggering $50 million in debts. She first filed for bankruptcy back in 1998. Then in 2010, the IRS filed a $396,000 tax lien against the singer, making a second bankruptcy necessary.

Now Braxton has hit another financial bump in the road. The trustee in Braxton’s bankruptcy case had accused the singer of fraudulently transferring money to her estranged husband, Keri Lewis, in order to keep the cash away from her creditors, TMZ reports.

Today, more than 90% of private student loans require co-signers, up from about 50% six years ago, The Wall Street Journal reports.

That means more and more parents and grandparents are on the hook for student loans when young graduates can't pay. As a result, many parents and grandparents are forced to file for bankruptcy.

Shedding student loan debt in bankruptcy, however, is far from a walk in the park.

President Barack Obama and Mitt Romney may butt heads about everything else, but they seem to be in agreement about men’s formal wear. Obama and Romney have been known to sport Hickey Freeman and Hart Schaffner Marx suits fairly frequently.

HMX Group, the parent company of the two brands, recently filed for bankruptcy, leading to speculation that the company’s traditionally American-made suits, may soon sport “Made in [insert foreign county]” tags. Brand aficionados can exhale, however, since lead bidder Authentic Brands Group LLC has assured customers that if it acquires HMX, it will continue to manufacture the suits stateside, The Wall Street Journal reports.

Hot on the heels of Solyndra's well publicized downfall, another government-funded energy company is filing for bankruptcy.

Lithium-ion battery maker A123 Systems received a $249 million grant from the federal government as part of the Obama administration's clean energy initiative, NBC News reports. Unfortunately there wasn't enough of a demand for electric-car batteries. The company filed for Chapter 11 bankruptcy on Tuesday.

Broke solar-panel company Solyndra is seeking bankruptcy-court approval of its reorganization plan. However, the plan has come under fire from the company's creditors, including the federal government.

The U.S. Department of Energy is concerned that, under the plan, Solyndra would pay back less than half of the $528 million in federally backed loan debt it owes the government, according to Market Watch. The IRS objected to the plan as well, citing the hundreds of millions of dollars in tax breaks the company is to receive post-bankruptcy.

Robert Kiyosaki, the author of Rich Dad, Poor Dad, has been accused of some questionable business practices.

Kiyosaki’s company, Rich Global LLC, was ordered to pay around $24 million to the Learning Annex and its chairman. In the wake of that judgment, the company is filing for bankruptcy, Forbes reports.

While bankrupt American Airlines wants to exit bankruptcy on its own two feet, lingering labor disputes and a series of maintenance issues are making a merger with Tempe-based US Airways more likely, Fox News reports.

The airline is still struggling to reach a deal with its pilots’ union, after a judge threw out the union’s contract last month. On top of that, a number of well-publicized maintenance issues are scaring passengers away from flying with American.