Famous People And Companies In The (bankruptcy) News For 2009

You may think that people that have been through bankruptcy or are thinking of it as an option fit into a certain type. You may be surprised to hear that there have actually been some celebrities who have also needed protection from foreclosure, a solution to credit card debt, and a hiding place from the repo man. And you may be equally surprised to see the companies who have been through bankruptcy this year. As it turns out, there are quite a few people who need to wipe their slates clean with bankruptcy.

After a failed entrepreneurial venture, baseball star Lenny Dykstra filed for bankruptcy. Actor Stephen Baldwin asked for help after falling behind on his mortgage and other debts. Actor and comedian Sinbad is the most recent to get bankruptcy protection, filing in December due to unpaid back taxes.

Some big name companies also had to raise their hand for help after a tough 2009. The Chicago Cubs, Bennigans, Eddie Bauer, and Reader's Digest all filed bankruptcy this past year. And, even St. Louis home town favorite Charter Communications faced the facts and filed for bankruptcy. Charter had to deal with $21.7 billion of debt and been unable to get refinancing, like so many of the homeowners across America. They have emerged from their bankruptcy and provided a great example for any other companies wondering how to shine after bankruptcy. They will apply for a listing on the Nasdaq later this month and continue to serve their 4.9 million customers in 27 states. They have reinvented themselves and emerged a stronger company who is less downtrodden with debt.

Bankruptcy filers cannot be described as a certain type. As you can tell, there is a diverse amount of people filing Chapter 7 and Chapter 13 bankruptcy, even in Missouri and Illinois. Hard times hit the short, the tall, the blonde, the brunette, and the famous and not famous. But taking responsiblity for your debt by filing for bankruptcy can be a solution for everyone. Are you wondering when Stephen decided that bankruptcy was right for him or when Lenny decided that bankruptcy could be the solution to his debt? If you are having trouble figuring out when to file bankruptcy or are still asking yourself "Should I even file bankruptcy?" look for free information from reputable Missouri and Illinois bankruptcy attorneys in your area. Many bankruptcy attorneys advertise for a free consultation but the best in your area will offer you free articles, news, and publications before you even talk to him or her. And it may just be the information you need to take your first step towards a new life.