Tag: news

Woman Facing Jail

Disclose, Disclose, Disclose: Woman Facing Jail for Bankruptcy Fraud

When you file bankruptcy, you’re signing a stack of papers under oath, and then you’ll be asked, under penalty of perjury, whether they list all your assets, income, and about any recent transfers. The wrong answer could land you in jail.

A woman in Michigan recently pled guilty to bankruptcy fraud. Wait, jail? Bankruptcy is just forms, right? Just before filing bankruptcy, she had received a $12,000 workers’ compensation award, then made it disappear, then lied about the whole thing. Now she faces five years in prison, $250,000 fine, or both.

The sad kicker is this: in California, this likely could’ve been avoided. Had everything been disclosed, and then properly exempted, she’d be free today, enjoying her discharge and money. Had she just told the truth to her bankruptcy lawyer, and then in the bankruptcy papers, a good Los Angeles bankruptcy attorney could have exempted the award, and she’d have it to spend when the bankruptcy is over.

By trying to save a few bucks on maybe the best bankruptcy lawyer, she’ll not only lose $12,000, but maybe twenty times that, and her freedom. Contact me today for a consultation, and let’s guide you to a honest fresh start.


iheartmedia bankruptcy

IHeartMedia Bankruptcy About to Happen

IHeartMedia Bankruptcy

This weekend, IHeartMedia bankruptcy¬†is about to finally happen. What is IHeart Radio? It’s the largest radio broadcaster in the United States. What is radio? That’s a different question. Ask your grandparents.

There’s speculation the broadcaster will file Chapter 11 this weekend. It won’t necessary end all the radio stations. It’ll just give the business a chance to restructure, kind of like a Chapter 13 bankruptcy, but a lot bigger.

With Sirius XM satellite, iTunes downloads, Spotify and Pandora streaming, music is delivered very differently — and more fragmented — than the old days of Radio Gaga. Think of it: music delivery has gone from CDs to mp3s to streaming apps on our phone. And that’s just the last 10 years. Radio is what you listen to for updates there’s a weather disaster or can’t get iTunes to load.

It’s a new world, and businesses need to adapt. The IHeartmedia bankruptcy shows that very lesson.