Posted on May 15th, 2012
The Supreme Court has recently made a ruling that a farming family must pay a bankruptcy tax on the sale of their farm.
The ruling was made on Monday when the court voted 5-4 that the family must pay the IRS for the bankruptcy sale of their farm in Wilcox. The family was forced to sell their 360-acre farm for $960,000 in order to cover all of their debts.
The taxes on this sale were nearly $26,000 and the family was hoping that this would count toward the bankruptcy filing, meaning that they would pay for part and the rest would be discharged by the court. The IRS stated that all taxes on the sale had to be paid and the Supreme Court sided with them.
If you are facing large amounts of debt, and you would like to learn more about how to prepare for Chapter 7 bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC today.
Posted on May 8th, 2012
The woman and her husband who opened the first Betty’s Pies, have now filed for personal bankruptcy. Although, they have filed for bankruptcy, it has been said that it will not affect the pie shop.
The iconic shop that is just outside of Two Harbors is not going to be affected by the bankruptcy. Another pie shop that is located in Duluth is also to remain open.
The couple has now listed $3.6 million in liabilities and a little over $960,000 in assets. The couple has filed a Chapter 7 bankruptcy filing, which means that their assets will be liquidated. The original Betty’s Cafe was opened in 1956, but was bought bu the couple in 1997.
If you or a loved one has been struggling with debt, you need representation on your side that may be able to help you receive the representation that you deserve. Contact the Milwaukee Chapter 7 bankruptcy lawyers of the DeLadurantey Law Office, LLC, by calling 414-377-0518 today and discussing your legal options.
Posted on April 25th, 2012
Last week, a former District Attorney in Wisconsin, who resigned after he charged with making sexually inappropriate comments to women, has now filed for Chapter 7 bankruptcy protection.
According to bankruptcy documents, the former D.A. listed nearly 34 creditors in the petition. One large creditor is the man’s lawyer who has been representing him in civil suit.
The D.A. has not yet paid the lawyer regarding a lawsuit that was filed by a woman after she claimed that he sent her inappropriate messages through text message, while the D.A. was in the middle of a prosecuting the woman’s boyfriend, who allegedly abused her. The former D.A. will also face a three-day trial in June for the case and state officials are requesting that his license to practice law is suspended.
If you or a loved one has been considering filing for bankruptcy after struggling with debt, you need representation that can help to explain all of your options as well as discuss which is best for you. Contact the Milwaukee Chapter 7 bankruptcy lawyers of the DeLadurantey Law Office, LLC, by calling 414-377-0518 today.
Posted on February 29th, 2012
Earlier this month, three creditors filed an involuntary bankruptcy petition against the Don Jacobs Mitsubishi car dealership in Milwaukee. The car dealership is currently closed.
The Chapter 7 bankruptcy filing was filed against Don Jacobs Imports, LLC, and claims debts of approximately $47,000. The creditors filed the bankruptcy in an attempt to stop a lawsuit from being filed against the car dealership by Boucher Automotive Group.
Chapter 7 bankruptcy petitions can be a new start for individuals and businesses with the elimination of unsecured debts. In addition, under Chapter 7 bankruptcy, debtors can rebuild their credit.
To learn more about Chapter 7 bankruptcy, contact the Milwaukee Chapter 7 bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 today.
Posted on January 30th, 2012
The total number of bankruptcies filed in the state of Wisconsin in 2011 was lower than the total number of bankruptcies filed in 2010. Experts say this is the first statewide decrease in bankruptcy filings in Wisconsin in 6 years.
Bankruptcies decreased by about 10 percent, with approximately 27,000 bankruptcies filed in the state last year. Chapter 7 bankruptcy was the most popular type of bankruptcy in Wisconsin, accounting for almost 80 percent of the state’s total bankruptcy petitions.
Chapter 7 bankruptcy allows unsecured debts like credit card debt to be eliminated, and provides liquidation exemptions for certain types of property. In addition, by filing for Chapter 7 bankruptcy, one is able to improve their credit score.
To learn more about filing for Chapter 7 bankruptcy in Milwaukee, contact the Milwaukee Chapter 7 bankruptcy attorneys of DeLadurantey Law Office, LLC by calling 414-377-0518 today.
Posted on January 23rd, 2012
Recently, sports agent Lee Steinberg filed for Chapter 7 bankruptcy. The agent is famous for representing top athletes like Troy Aikmen and inspiring the 1996 film “Jerry Maguire” and its main character.
Steinberg currently owes $1.4 million in a lease for a property in Newport Beach. The Chapter 7 bankruptcy filing lists total debts between $1 and $5 million, and only one asset of $475,000 in stock.
The sports agent said he accumulated debt while he was in rehab to recover from an alcohol addiction, and his business suffered as a result of these debts. Steinberg says he has been sober since 2010.
Contact the Milwaukee Chapter 7 bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518, if you are considering filing for bankruptcy and would like to learn more about your options.
Posted on December 30th, 2011
Retired NBA star Antoine Walker has been accused by his daughter’s mother of failing to pay child support and tuition for his 13 year-old daughter. Walker appeared in court last week, but a federal judge will have to decide whether or not the case can proceed since he has filed for Chapter 7 bankruptcy.
Along with $117,000 in unpaid child support and nearly $28,000 in school costs for his daughter, the 35 year-old owes $1.2 million to casinos and $2 million on a house he bought his mother. Walker is on probation after pleading guilty to not paying $750,000 he owes to three different Las Vegas casinos.
During his 13 year career in the NBA, he is estimated to have earned $110 million.
If you or someone you love is struggling with the difficult realities of heavy levels of debt, contact the Milwaukee Chapter 7 bankruptcy attorneys of of the DeLadurantey Law Office, LLC by calling 414-377-0518.
Posted on October 24th, 2011
The total number of bankruptcies filed in Wisconsin in the first nine months of this year were 9.5 percent lower than in the same time period last year.
So far this year, 21,167 bankruptcies have been filed in the state of Wisconsin. In the first three quarters of 2010, 23,401 bankruptcies were filed across the state.
The most common type of bankruptcy filing has been Chapter 7 bankruptcy. Chapter 7 bankruptcy allows consumers to eliminate certain dischargeable debts like credit card debt, personal loans, leases, business debts, and more.
Bankruptcy experts say they have seen an increase in small business owners turning to Chapter 7 bankruptcy when their businesses experience financial troubles.
If you or someone you know is seeking advice on filing for Chapter 7 bankruptcy, contact the Milwaukee Chapter 7 bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about how we can help you.
Posted on September 27th, 2011
“Troubleshooter” Tom Martino filed for Chapter 7 bankruptcy at the U.S. Bankruptcy Court in Denver. Martino is a media personality based in Denver who offers consumer-advocacy and real estate advice.
According to the Chapter 7 filing, Martino has $1.37 million in assets and $78.6 million in debts. Martino says all of his debt is completely real estate debt and that he has no consumer debt.
Additionally, the filing lists 47 creditors. Most creditors are failed banks from which Martino had taken out loans. He says, “There are so many people in this same boat. You’ve got millions of dollars in lost value and all of a sudden you can’t refinance your loans and you are just upside down.”
If you are considering filing for Chapter 7 bankruptcy in Milwaukee, contact the Milwaukee Chapter 7 bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 today.
Posted on September 20th, 2011
A Milwaukee-area commercial developer recently filed for Chapter 7 personal bankruptcy. The filing is one of several recent filings from real estate developers in southeastern Wisconsin over the past few years.
The developer’s Chapter 7 filing lists $46 million in debt and $3.2 million in assets. Sources say the commercial real estate developer is responsible for about $100 million worth of projects in Wisconsin including developing the Shoppes of Wyndham Village in Franklin.
The majority of the liabilities listed in the bankruptcy filing stem from guarantees on real estate development loans. Under Chapter 7 bankruptcy, individuals are able to eliminate certain unsecured debts and avoid liquidating assets.
To learn more about filing for Chapter 7 bankruptcy protection, contact the Milwaukee Chapter 7 bankruptcy lawyers of DeLadurantey Law Office, LLC by calling 414-377-0518 today.