Posted on June 27th, 2012
Officials with the city of Stockton, California have said that the mediation attempts with creditors have not been successful and this may mean that filing for bankruptcy is the next option.
The mediation between creditors and the city have stated that they have been unable to settle on a way to restructure the hundreds of millions of dollars in debt.
Monday was the deadline that was set in order for negotiations to be met and they were not. The city council is expected to vote on the issue this week to see if a budget for the bankruptcy can be settled and officials have suggested that a bankruptcy filing could be done as early as this week.
Bankruptcy is a serious issue and can cause tremendous stress on a family. If you or someone you care about is going through this now, contact the Milwaukee bankruptcy lawyers of the DeLaduranty Law Office, LLC by calling 414-377-0518 today.
Posted on November 28th, 2011
Last month, former TLC singer 41-year old Tionne Watkins, or T-Boz, filed for personal bankruptcy with $768,643 in debt.
The bankruptcy filing shows that most of the singer’s debt is related to mortgage payments on a $1.2 million home. Watkins, a four-time Grammy award winner, and the rest of TLC filed for Chapter 11 bankruptcy in 1995 at the height of their popularity.
Now, the singer earns about $1,200 a month in royalties for the band’s music. Sources report that she is owed around $250,000 in child support from her ex-husband.
Furthermore, the bankruptcy filing reveals that the singer’s current monthly income is $11,700. The filing also shows that Watkins spends around $8,821 every month.
If you or someone you know would like to learn more about managing debts through debt negotiation, contact the Milwaukee debt negotiation attorneys of DeLadurantey Law Office at 414-377-0518 to discuss your situation with one of our experienced bankruptcy lawyers.