201604.28
0

American Idol Production Company Files for Bankruptcy

Core Media Group, the production company behind American Idol and So You Think You Can Dance, filed for Chapter 11 Bankruptcy Thursday morning according to USA Today.  This coincides with American Idols’ series finale which aired on April 7, 2016. Debt to American Idol Creator Core Media is owned as a joint venture formed in…

201604.15
0

College Tuition and Bankruptcy

Can college tuition be deducted as an expense on the Means Test when filing for bankruptcy? In most cases, college tuition expenses are not a deductible expense for purposes of qualifying for bankruptcy.  However, there are limited exceptions when school tuition and/or expenses could be deducted. Means Test The Means Test is a test to…

201604.06
0

Pacific Sunwear (PacSun): Fashion Retailer to File Bankruptcy?

Fast Fashion and Bankruptcy Earlier today Bloomberg and other news outlets reported that Orange County based fashion retailer, Pacific Sunwear (PacSun) is set to file Bankruptcy.  Although this is sure to make news in the consumer world, rumors have been swirling for some time in the fashion industry regarding PacSun’s potential bankruptcy filing.  It was…

201603.28
0

Charitable Contributions and Religious Donations in Bankruptcy

Can I deduct charitable contributions or religious tithing when calculating the means test or Chapter 13 plan payment? According to mashable.com the United States is one of the countries that topped the list of most charitable nations. In the U.S., 68% of the population donated to charity, while 79% helped strangers and 44% did volunteer…

201603.21
0

Contacting Your Bankruptcy Trustee Prior to your 341 Hearing

Contact Your Bankruptcy Trustee Only in Very Limited Circumstances The role of the bankruptcy trustee is to review your bankruptcy case and administer/liquidate your assets.  Think of them as the middle-man between you and your creditors.  When you file your bankruptcy case, you will be assigned an interim Chapter 7 Bankruptcy Trustee.  In most circumstances,…