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How Does Bankruptcy Work?

Of course, bankruptcy is your last resort. It is tough but provides a legal remedy for your financial situation.

Bankruptcy is a 3-step process:
1. You must first file in federal or state court saying you are ?insolvent? ? meaning yo
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AMR’s Horton Willing to Weigh Acquisitions After Bankruptcy

AMR Corp.’s American Airlines, whose bankruptcy made it a possible takeover target, may try to buy a rival after leaving Chapter 11 as the U.S. industry shrinks, Chief Executive Officer Tom Horton said.

Avoid these bankruptcy don'ts

If you're looking to make a new start, be sure you do it the right way. These moves could cause trouble.

Corporate "Personhood" to be Tested in MF Global Bankruptcy Case

NEW YORK, Feb. 7, 2012 /PRNewswire/ -- The legal principle of "corporations are 'persons'" is set to be tested in the current MF Global bankruptcy case after a former MF Global client, Adam Furgatch ...

AMR’s Horton Willing to Weigh Acquisitions After Bankruptcy Exit

AMR Corp.’s American Airlines, whose bankruptcy made it a possible takeover target, may try to buy a rival after leaving Chapter 11 as the U.S. industry shrinks, Chief Executive Officer Tom Horton said.

Official: Bankruptcy possible for Pa. capital

The state official in charge of figuring out how to fix an enormous financial shortfall in Pennsylvania's capital city said in a proposed recovery plan released Monday that "significant and difficult" ...

Bankruptcy tourism - it's not a holiday

THE RECENT INSOLVENCY STATS revealed a fall in the number of personal insolvencies in Q4 2011 compared to Q4 2010. The number of bankruptcies for the fourth quarter stood at 28,973, a decrease of 5.6% on the same period a year ago.

Global Aviation, U.S. Troop Transporter, Files for Bankruptcy

Global Aviation Holdings Inc., the biggest charter-flight company for U.S. military troops, filed bankruptcy, saying it has too many planes, too much debt and spends too much on labor.

Can bankruptcy tap surprise inheritance?

Having filed for Chapter 13, a woman discovers a surprise inheritance and worries whether she has to turn over the funds to her trustee

American Airline bankruptcy fuels merger talk

American Airlines' bankruptcy has many in the industry questioning if a merger is in its future.

American's bankruptcy fuels merger talk

American Airlines' bankruptcy has many in the industry questioning if a merger is in its future.

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