Thursday, December 8, 2011

$200 Discount Coupon

Erase Your Debt Today! Call Stephen M. Dunne, Esq. and learn how bankruptcy can give you a fresh start. Use this $200 Discount Coupon towards your legal fee.

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Thursday, November 10, 2011

Repayment Strategies for Getting Out Of Student Loan Default


The two primary ways to get out of Student Loan Default are through Consolidation and Rehabilitation.    The first step is to research your student loan online and determine what kind of loans that you have under your account.  Check the following website to research all federal student loans: http://www.nslds.ed.gov/nslds_SA/

 1.     Consolidation:
Borrowers can consolidate their defaulted student loans into a new Direct Consolidation Loan with a repayment plan tied to their income. After obtaining a Consolidation Loan, the borrower gets a fresh start with a new loan.  As of July 1, 2010, Direct Consolidation Loans are the only type of federal consolidation loans available. All federal loan borrowers may obtain Direct Consolidation Loans. However, they must have at least one Federal Family Education Loan (FFEL) or Direct Loan Program Loan (Direct Loan) to qualify for consolidation.

There are drawbacks and limits to consolidation as a way out of default. Borrowers should understand that the balance will increase after consolidation due to the addition of collection fees. One of the most important limits is that defaulted Direct Consolidation Loans may not be reconsolidated. In effect, this means the borrower has only one shot at consolidating as a way out of default.

To obtain a Direct Consolidation Loan, borrowers in default either have to make three (3) consecutive reasonable and affordable payments based on their total financial circumstances or agree to select an income-contingent repayment plan (ICRP) or income based repayment (IBR) plan.

Payments Are Not Required to Get Out of Default Through Consolidation

Unfortunately, the Department of Education and Collection Agencies often claim inaccurately that all borrowers must make preliminary payments (sometimes three, sometimes six) in order to consolidate out of default.

This misinformation derives from the Department of Education’s monetary incentive system which motivates Collection Agencies to lie, cheat and steal from borrowers with limited means. The monetary incentive system disproportionately rewards Collections Agencies if borrowers make payments prior to consolidation. It is important to know that this is not the law and does not have to be followed in order to be successful at pursuing a consolidation to get out of default.

Furthermore, if a borrower applies directly to the Direct Loan Program for consolidation and does not use the Collection Agency as a middleperson, the agency will generally not earn any fee. There is no charge to obtain a Direct Consolidation Loan. Borrowers may apply by regular mail, on-line, or by phone under certain circumstances. Borrowers may request an application by calling the current toll-free number, 1-800-557-7392 or, for TDD, 1-800-557-7395. Borrowers can also apply for Direct Consolidation Loans on-line at 

Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard, Suite 200
Philadelphia, PA 19102
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Sunday, November 6, 2011

Disability Discharge of Federal Student Loans


The borrower’s permanent and total disability is grounds for a student loan discharge. Borrowers with FFELs, Direct Loans, and Perkins loans are eligible for this discharge.[1] This includes consolidation loans.
The definition of disability changed as of July 1, 2010. The new definition is less restrictive and is more favorable for borrowers because it allows discharges to be granted to borrowers who are unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, can be expected to last for a continuous period of 60 months, or has lasted for a continuous period of 60 months.[2]
The borrower applies directly to the loan holder for a disability discharge. If the borrower has different loan holders, the borrower should submit a separate application to each loan holder.
In order to help ensure a more efficient application process, borrowers should follow these guidelines from the Department:
  1. Be sure to sign the application. A photocopy must contain an original signature.
  2. Separate applications must be submitted to each loan holder. Copies may be submitted. However, each copy must have an original borrower signature. Original physician signatures are not required on each copy.
  3. The application must be signed by a doctor of medicine or osteopathy who is licenses to practice in the United States.
  4. The doctor must complete the application.
  5. Doctors should not use medical abbreviations or insurance codes on the application.
  6. The doctor must provide more than a diagnosis. The doctor must also identify the medical condition and clearly and fully explain how the condition prevents the borrower from working and earning money.
The lender may continue collection activity until it receives the certification of disability. The borrower may request an administrative forbearance to stop collection activity during the review period.
It is important for borrowers to realize that the Department of Education has a very high rate of denials due to “medical review failures.” However, the denial is not tied to an actual medical review. Instead, this is a generic denial category that can mean anything from a missing license number to the physician forgetting to check a box on the application form. The Department of Education often sends a follow-up letter to physicians that require a relatively prompt response and failure of the physician to timely respond may lead to a medical review failure. Borrower should not assume that a denial based on a medical review failure is tied to an actual medical review.
The Department of Education has set up a Disability Discharge Loan Servicing Center. The center can be contacted by phone at 1-888-869-4169, by email at disability_discharge@acs-inc.com, or by regular mail at U.S. Department of Education Disability Discharge Loan Servicing Center, P.O. Box 5200, Greenville, TX 75403-5200. Hearing impaired individuals with access to TDD can call 1-888-636-6401.
If borrower obtains a discharge, the balance of the loan is discharged.[3]
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard, Suite 200
Philadelphia, PA 19102
(215) 854-6342 (Office)
http://www.thephiladelphiabankruptcyattorney.com
[1] 20 U.S.C. § 1087(a); 34 C.F.R. §§ 674.61 (Perkins Loan), 682.402(c) (FFEL), 685.213 (Direct Loan).
[2] 34 C.F.R. § 682.200
[3] 34 C.F.R. § 682.402(c)(3)(ii).

Saturday, November 5, 2011

Other Profession-Related Loan Cancellation Programs

The Department of Education administers a loan-forgiveness program for certain child care providers with FFELs or Direct Loans.[1] Under this program, borrowers who have received an associate’s or bachelor’s degree in early childhood education or child care and who are providing full-time child care services that serve certain low-income communities are eligible for forgiveness of up to 100% of their total eligible loans. Only loans made after October 7, 1998, qualify. In January 2004, the Department of Education published the application for this cancellation program.[2]

The 2008 HEA reauthorization law created a number of new job-related cancellation programs, including loan forgiveness for service in areas of national need and limited loan repayment for civil legal assistance attorneys. Under the civil repayment program, attorneys may be awarded up to $6,000 in repayment assistance in 2010 and may be prioritized to receive assistance in future years if Congress continues to fund the program.[3]

[1] See 67 Fed. Reg. 55385 (Aug. 29, 2002).
[2] U.S. Dep’t of Educ., Dear Colleague Letter GEN-04-01 (Jan. 2004). The form is available on the Department of Education’s website at www.ed.gov
[3] For requirements and application procedures, see 75 Fed. Reg. 38999 (July 7, 2010).

Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard, Suite 200
Philadelphia, PA 19102 (215) 854-6342 (Office)
http://www.thephiladelphiabankruptcyattorney.com

Friday, November 4, 2011

Perkins Loan Forgiveness Program


The Perkins Loan Forgiveness Program was the first to provide for cancellation of loans for teachers in low-income school districts.

A 2005 Second Circuit decision broadened the Perkins Loan Forgiveness Program to include numerous occupations related to teaching, public interest law and social work. Since the Second Circuit decision, the Department of Education has clarified its position in a "Dear Colleague letter" explaining that the program has indeed expanded to include numerous occupations that are considered socially desirable professions.

A short list of covered occupations include:

  • Full-time nurses or medical technicians;
  • Full-time law enforcement or correction officers;
  • Full-time staff members in the education component of Head Start;
  • Military service;
  • VISTA or Peace Corps volunteers;
  • Full-time fire fighters in local, state, or federal fire departments;
  • Full-time speech pathologists with master's degrees working in certain elementary or secondary schools;
  • Certain librarians working in certain schools;
  • Full-time attorneys employed in public or community defender organizations.

  • Borrowers must perform uninterrupted service for a specific length of time to qualify for a Perkins loan discharge. However, the Department of Education has waived the continuous service requirement for borrowers who are members of the military reserves or who are regular active duty members of the Armed Forces.

    It is important to note that borrowers lose access to Perkins Loan Forgiveness Program if they consolidate their loans with "Direct Loans."
    Read the following documents for more information:

    De La Mota v. U.S. Dep't of Educ., 412 F. 3d 71 (2d Cir. 2005)

    U.S. Dep't of Educ., Child or Family Service Loan Cancellation Benefit in the Federal Perkins Loan Program, Dear Colleague Letter GEN-05-15 (Oct. 19, 2005); 34 C.F.R. § 674.56(b).

    Dunne Law Offices, P.C.
    1500 John F. Kennedy Boulevard, Suite 200
    Philadelphia, PA 19102
    (215) 854-6342 (Office)
    http://www.thephiladelphiabankruptcyattorney.com

    Thursday, November 3, 2011

    Teacher Loan Forgiveness Program

    Teachers who are full time and work five (5) consecutive years in certain schools that serve low income families are eligible to erase $5,000.00 of their federal student loans.

    Math or Science teachers in eligible secondary schools and special education teachers in eligible elementary or secondary schools are allowed to erase up to $17,500.00 of their student loans in return for five (5) consecutive years of employment in certain schools that serve low income families.

    The Teacher Loan Forgiveness Program under the FFEL Program and the Direct Loan Program apply only to borrowers with no outstanding loan balances as of October 1, 1998, or later.

    FFEL and Direct Loan borrowers are not eligible for the Teacher Loan Forgiveness Program if their loans are in default status. If a borrower is in default status, it is imperative that they get out of default status by taking advantage of the Income Based Repayment (IBR) Program in order to establish their eligibility to participate in the loan forgiveness program.

    It is important to note that teachers can take advantage of multiple loan forgiveness programs simultaneously. For example, teachers can apply for the Teacher Loan Forgiveness Program and the Public Service Forgiveness Program at the same time.

    Check the following website for more information:

    http://ibrinfo.org/

    http://studentaid.ed.gov/students/attachments/siteresources/LoanForgivenessv4.pdf

    http://studentaid.ed.gov/students/attachments/siteresources/PSLF_QAs_final_02%2012%2010.pdf


    Dunne Law Offices, P.C.
    1500 John F. Kennedy Boulevard, Suite 200
    Philadelphia, PA 19102
    (215) 854-6342 (Office)
    http://www.thephiladelphiabankruptcyattorney.com/

    Wednesday, November 2, 2011

    Loan Forgiveness Program


    This program is available to all borrowers who work in public service jobs for ten (10) years and participate in a eligible repayment plan (IBR or ICR). The remaining balance of the student loan (principal and interest) is forgiven after ten years of public service is completed.

    The program applies only to Direct Loans which encompasses Stafford, Plus, and Consolidation loans. Some borrowers may find it advantageous to consolidate their direct loans with their non-direct federal government loans in order to take advantage of this benefit.

    Borrowers with non-direct loans should consolidate with direct loans as soon as possible because only payments made through the Direct Loan Program count towards the ten year forgiveness period. Borrowers who have previously consolidated their loans are eligible to reconsolidate their loans (combine direct loans with non-direct loans) to take advantage of this loan forgiveness program.

    In order to qualify, borrowers must not be in default and must have made 120 payments on their loans after October 1, 2007. Payments can made through any of the eligible repayment plans (IBR or ICR). Borrowers must be employed in a public service job at the time of the forgiveness.

    Jobs with federal, state, local, or tribal government organizations, public child or family service agencies, 501(c)(3) nonprofit organizations or universities should be considered "public service jobs."

    Borrowers who are working for organizations that provide any of the following services should qualify: Law Enforcement, Public Interest, Military service, Public safety, childhood education, public health care occupations, and public education.

    It is important to note that the loan forgiveness is based upon the employer's eligibility, not the type of job. Anyone working full time for a qualifying employer, regardless of his or her job, may qualify. There is no requirement that borrowers must work in the same public service job for the entire ten year period.

    Check the following website for more information:
    http://studentaid.ed.gov/students/attachments/siteresources/LoanForgivenessv4.pdf
    http://studentaid.ed.gov/students/attachments/siteresources/PSLF_QAs_final_02%2012%2010.pdf

    Tuesday, September 27, 2011

    Excellent Rated Attorney by Avvo.com


    Very thankful to be rated as an Excellent Attorney by Avvo.com. The rating is based upon professional achievements and industry recognition.


    Tuesday, September 13, 2011

    Student Loans: The Next Debt Bubble


    Total student loan debt in the U.S. is expected to reach $1 trillion this year — more than the nation’s total credit-card debt. The consequences of default are severe. Unlike most debt, student loans are almost impossible to dispose of through bankruptcy. If students fail to repay, their tax refunds can be withheld and wages and Social Security payments can be garnished.

    Lawyer turns topless dancer to pay the bills



    Saturday, September 3, 2011

    Three NFL stars who bounced back from bankruptcy - NFL - Yahoo! Sports


    Quarterback Michael Vick(notes) is engaged in what is arguably the most spectacular bankruptcy comeback the NFL has ever seen. Freshly inked to the Philadelphia Eagles to the tune of six-year $100 million deal is no small potatoes for a player who filed $20.3 million in debt in 2008. The turnaround is especially astonishing given Vick was serving a 24-month sentence in a federal prison, for his involvement in a dogfighting ring, when his Chapter 11 petition was filed. The crime lost the 2001 number one draft pick his $130 million contract with the Atlanta Falcons and lucrative endorsement deals with major brands such as Nike. Doug Farrar, writing for the Yahoo! Sport's Shutdown Corner blog, sums it up best, "The NFL contract that totals nine digits, even if most of it's in funny money, is a fairly rare thing. Who would have expected Michael Vick to be the first player in NFL history to amass two of them in his career?" Recovering from bankruptcy isn't unheard of for NFL players, although Vick is the first to bounce back so quickly and lucratively.

    Just one bad investment, let alone many, can put an NFL player on the brink of financial ruin. New York Jets backup quarterback Mark Brunell is currently amidst his own $24.7 million bankruptcy woes . The formerJacksonville Jaguars quarterback filed for Chapter 11 in 2010, due to failed real estate and restaurant partnerships. Brunell made $1.5 million playing football last year and is president of a self-named company that operates football camps. Due in part to the end of the NFL lockout, he is expected to be clear of bankruptcy by this October.

    Duval Love
    Former Los Angeles Rams offensive lineman Duval Love was financially fit when he retired in 1996, after being injured during the Arizona Cardinalstraining camp. Yet, he and former Rams teammate Eric Dickerson still fell for an over $35 million ponzi scheme perpetuated by DFJ Italia. That and other bad start-up ventures drained the one-time Pro Bowler's assets. Love has since recovered and is focusing on a coaching career, having interned with the Philadelphia Eagles and other football organizations.

    Marlin Briscoe
    Marlin Briscoe, the first African-American starting quarterback in NFL history, fell on hard times after retiring from the New England Patriots in 1976. "The Magician" went from the gridiron to brokering municipal bonds, but it was a crack cocaine addiction that saw him homeless and incarcerated. Briscoe turned all that around and started a children's football camp, as well as becoming the director of the Boys and Girls Club in Long Beach, Calif.


    Three NFL stars who bounced back from bankruptcy - NFL - Yahoo! Sports:

    Saturday, August 20, 2011

    Discharge of Federal Income Taxes in Bankruptcy

    Discharge of Federal Income Taxes in Bankruptcy

    A taxpayer may discharge federal income taxes in a Chapter 7 if ALL of the following criteria are met:
    1.The tax is for a year for which a tax return is due more than 3 years prior to the filing of the bankruptcy petition;
    2.A tax return was filed more than 2 years prior to the filing of the petition;
    3.The tax was assessed more than 240 days prior to filing of the petition;
    4. Lastly, the tax must not be due to a fraudulent tax return.

    Tuesday, January 18, 2011

    HUDtastraphe

    Congress authorized $1 billion last July to help unemployed homeowners nationwide who are at risk of foreclosure as part of the Emergency Homeowners Loan Program (EHLP). EHLP was signed into law 180 days ago by President Obama as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

    On October 5th, 2010 the U.S. Department of Housing and Urban Development (HUD) issued a press release stating that: "It is HUD's intention for the program to begin taking applications from eligible homeowners by the end of the year."

    To date, the Pennsylvania Housing Finance Agency (PHFA) which will administer the HUD loans is still waiting for the money from Washington.

    HUD spokesman Brian Sullivan recently stated that "the target is the first quarter of this year."

    The EHLP law will provide up to $50,000 in zero-interest loans for each homeowner who qualifies, or who is behind on their mortgage payments due to unemployment, underemployment or medical bills.

    Homeowners in Pennsylvania need this money today as there are 13,000 new foreclosure notices sent out every month to residents of the keystone state.

    The situation in Philadelphia is even more dire but fortunately Judge Pamela D. Dembe, the president judge of the Court of Common Pleas of Philadelphia has issued a 30 day moratorium for the nearly 1,500 residential properties in foreclosure.

    The time for HUD to act is now. Pennsylvania families threatened with eviction in the winter of 2011 need help today.

    To speak directly, one on one, with an experienced and knowledgeable Philadelphia Bankruptcy Lawyer, please contact the Dunne Law Offices at (215) 854-6342. We offer a free initial consultation for all consumer bankruptcy matters.

    The Dunne Law Offices, P.C. is a debt relief agency. The Dunne Law Offices, P.C. helps people file for bankruptcy relief under the bankruptcy code.

    Thursday, January 13, 2011

    Student Loans and Bankruptcy

    Chapter 13 Bankruptcy restructures your debt in order to make financial obligations to creditors manageable. Debts commonly included in Chapter 13 bankruptcy cases are past due mortgage payments, car loans and student loans. Nothing absolves you from having to pay back your student loans, but Chapter 13 helps you get a handle on the payments.

    A Chapter 13 bankruptcy may also erase up to 100% of your unsecured debt; credit cards, medical bills, store cards and personal loans.

    At present, Americans owe $829 billion in student loans. If a student falls behind in their student loan payments, the Department of Education is legally allowed to implement the following collection methods:

    • Wage garnishment without a court order

    • Suspension of state professional license

    • Garnishment of social security/disability income

    • Withholding IRS tax refunds

    Chapter 13 bankruptcy stops all of these harsh collection methods and allows a student a little breathing room to pay what they can out of their budget. Many Chapter 13 cases are spread out over 5 years allowing a student plenty of time to discover new career opportunities and live comfortably without suffering from constant threats and harassment by SallieMae.

    The following graphic illustrates the student loan racket: http://www.collegescholarships.org/research/student-loans/

    To speak directly, one on one, with an experienced and knowledgeable Philadelphia Bankruptcy Lawyer, please contact the Dunne Law Offices at (215) 854-6342. We offer a free initial consultation for all consumer bankruptcy matters.

    The Dunne Law Offices, P.C. is a debt relief agency. The Dunne Law Offices, P.C. helps people file for bankruptcy relief under the bankruptcy code.

    Wednesday, January 12, 2011

    Consumer Laws That Protect Your Money

    Most financial transactions involving consumers are covered by consumer protection laws. These include transactions involving credit, charge, and debit cards issued by banks and credit cards issued by retail stores; ATM transactions and other electronic fund transfers; deposit account transactions; automobile leases; mortgages and home equity loans; and lines of credit and other unsecured credit.

    The following is a short list of consumer laws that will empower you!

    Fair Housing Act (1968) Prohibits discrimination in the extension of housing credit on the basis of race, color, religion, national origin, sex, handicap, or family status.

    Truth in Lending Act (1968) Requires uniform methods for computing the cost of credit and for disclosing credit terms. Gives borrowers the right to cancel, within three days, certain loans secured by their residences. Prohibits the unsolicited issuance of credit cards and limits cardholder liability for unauthorized use. Also imposes limitations on home equity loans with rates or fees above a specified threshold.

    Fair Credit Reporting Act (1970) Protects consumers against inaccurate or misleading information in credit files maintained by credit-reporting agencies; requires credit reporting agencies to allow credit applicants to correct erroneous reports.

    Fair Credit Billing Act (1974) Specifies how creditors must respond to billing-error complaints from consumers; imposes requirements to ensure that creditors handle accounts fairly and promptly. Applies primarily to credit and charge card accounts (for example, store card and bank card accounts).

    Equal Credit Opportunity Act (1974) Prohibits discrimination in credit transactions on several bases, including sex, marital status, age, race, religion, color, national origin, the receipt of public assistance funds, or the exercise of any right under the Consumer Credit Protection Act. Requires creditors to grant credit to qualified individuals without requiring cosignature by spouses, to inform unsuccessful applicants in writing of the reasons credit was denied, and to allow married individuals to have credit histories on jointly held accounts maintained in the names of both spouses. Also entitles a borrower to a copy of a real estate appraisal report.

    Real Estate Settlement Procedures Act of (1974) Requires that the nature and costs of real estate settlements be disclosed to borrowers. Also protects borrowers against abusive practices, such as kickbacks, and limits the use of escrow accounts.

    Home Mortgage Disclosure Act of (1975) Requires mortgage lenders to annually disclose to the public data about the geographic distribution of their applications, originations, and purchases of home-purchase and home-improvement loans and refinancings. Requires lenders to report data on the ethnicity, race, sex, income of applicants and borrowers, and other data. Also directs the Federal Financial Institutions Examination Council, of which the Federal Reserve is a member, to make summaries of the data available to the public.

    Fair Debt Collection Practices Act (1977) Prohibits abusive debt collection practices. Applies to banks that function as debt collectors for other entities.

    Home Equity Loan Consumer Protection Act of (1988) Requires creditors to provide consumers with detailed information about open-end credit plans secured by the consumer's dwelling.

    Truth in Savings Act (1991) Requires that depository institutions disclose to depositors certain account information about their accounts—including the annual percentage yield, which must be calculated in a uniform manner—and prohibits certain methods of calculating interest.

    Home Ownership and Equity Protection Act of (1994) Provides additional disclosure requirements and substantive limitations on home-equity loans with rates or fees above a certain percentage or amount.

    To speak directly, one on one, with an experienced and knowledgeable Philadelphia Bankruptcy Lawyer, please contact the Dunne Law Offices at (215) 854-6342 or send an email with any questions to dunnelawoffices@gmail.com. We offer a free initial consultation for all consumer bankruptcy matters.

    Saturday, January 8, 2011

    Wizard of Oz Filed Bankruptcy

    Bankruptcy Can Happen To Anyone

    As the following list of famous people confirms, anyone can find themselves unable to pay their bills. A high income helps but does not prevent financial problems from happening. People facing financial difficulties often feel like they are the only ones having money troubles. They are reluctant to file for bankruptcy and unsure how to proceed. They do not realize that many people, including famous celebrities, have faced similar financial difficulties and filed for bankruptcy to discharge their debts.

    L. Frank Baum - Wizard of Oz author
    King Edward II - 14th century English King
    Toni Braxton - Singer
    George Clinton - Singer ("Atomic Dog")
    Samuel L. Clemens ("Mark Twain") - Author
    Natalie Cole - Singer
    Gary Coleman - Actor (Arnold - Different Strokes)
    Francis Ford Coppola - Film Director/Producer
    Cathy Lee Crosby - Actress
    Mick Fleetwood - Singer (Fleetwood Mac)
    William Fox - Co-founder of 20th Century Fox Film Corporation
    Marvin Gaye - Singer
    Charles Goodyear - Founder of Goodyear Tire Co.
    Ulysses S. Grant - 18th U.S. President & Civil War General
    Corey Haim - Actor (Star of The Lost Boys (1987))
    Isaac Hayes - Songwriter/Musician/Singer
    Sherman Hemsley - Actor (George Jefferson from The Jeffersons)
    Milton Snavely Hershey - Founder of Hershey's Foods Corp.
    Ron Isley - Singer
    Jermaine Jackson - Singer (Michael Jackson's brother)
    Joe & Katherine Jackson - Parents of the Michael Jackson
    La Toya Jackson - Singer (Michael Jackson's sister)
    Randy Jackson - Singer (Michael Jackson's brother)
    Tito Jackson - Singer (Michael Jackson's brother)
    Thomas Jefferson - American Founding Father and President
    Don Johnson - Actor/Producer
    Kacey Jones - Singer
    Chaka Kahn - 80's R & B Singer
    Cyndi Lauper - 80's Singer
    Stan Lee - Co-creator of Spider Man, The Incredible Hulk, The X-Men, etc.
    Jerry Lewis - Actor
    Meat Loaf - Singer
    Wolfgang Amadeus Mozart - Famous Musical Composer
    Willie Nelson - Country & Western Singer/Songwriter
    Immanuel Nobel - Father of Alfred Nobel (who founded Nobel prizes)
    Tom Petty - Singer
    Burt Reynolds - Actor/Director
    Debbie Reynolds - Actress/Singer
    Mickey Rooney - Actor
    Anna Nicole Smith - Model/Actress
    James & Lynne Spears - Britney Spear's parents

    If debts are piling up don't give up. If you're having serious financial problems, call the Dunne Law Offices. For more information or to see if bankruptcy is an option for you, please contact one of our six offices for a free consultation.

    To speak directly, one on one, with an experienced and knowledgeable Philadelphia Bankruptcy Lawyer, please contact the Dunne Law Offices at (215) 854-6342 or email your question to dunnelawoffices@gmail.com. We offer a free initial consultation for all consumer bankruptcy matters.

    Famous People Who Filed Bankruptcy

    Famous People Who Filed Bankruptcy

    People with all levels of income can overcome their financial problems by filing bankruptcy. The following is a list of famous people including artists, athletes, authors, actors and businessmen who filed for bankruptcy. Most of the celebrities listed below not only recovered financially, but many went on to earn great wealth after filing bankruptcy.

    Rembrandt, the famous Dutch painter filed for bankruptcy at the age of 50 in 1656.

    P.T. Barnum from Barnum and Bailey Circus filed for bankruptcy in 1871.

    Mark Twain, pre-eminent American author filed for bankruptcy in 1894 and discharged all his debts.

    Henry John Heinz, condiment manufacturer filed for bankruptcy in 1875.

    Oscar Wilde, acclaimed poet and author, was forced into bankruptcy in 1895.

    Milton Snavely Hershey, founder of Hershey's chocolate, started four candy companies that failed and filed bankruptcy before starting what is now Hershey's Foods Corporation.

    Henry Ford, automobile manufacturer, filed bankruptcy twice before creating a third company, the Ford Motor Company.

    Mickey Rooney, movie actor filed for bankruptcy in 1962.

    Johnny Unitas, legendary Hall of Fame football quarterback filed for Chapter 11 bankruptcy in 1991.

    Jerry Lee Lewis, famous Rock n' Roll star, filed for bankruptcy in 1988.
    Wayne Newton, Las Vegas entertainer, filed for Chapter 11 bankruptcy in 1992.

    Kim Basinger, actress, filed for bankruptcy in 1993.

    MC Hammer, musician and entertainer, filed for Chapter 11 bankruptcy in 1996.

    Walt Disney, cartoon creator, filed for bankruptcy in 1920.

    Larry King, talk show host, filed for bankruptcy in 1960 and then again in 1978.

    Donald Trump, businessman, filed a Chapter 11 bankruptcy case three times.

    Mike Tyson, professional fighter, filed a Chapter 11 case in August of 2003.

    Stephen Andrew Baldwin, actor, filed for Chapter 11 on July 21, 2009.

    Jose Conseco, baseball player, filed for Chapter 7 bankruptcy in 2008.

    If debts are piling up don't give up. If you're having serious financial problems, call the Dunne Law Offices. For more information or to see if bankruptcy is an option for you, please contact one of our six offices for a free consultation.

    To speak directly, one on one, with an experienced and knowledgeable Philadelphia Bankruptcy Lawyer, please contact the Dunne Law Offices at (215) 854-6342 or send an email with any questions to dunnelawoffices@gmail.com. We offer a free initial consultation for all consumer bankruptcy matters.