23andMe is Going Bankrupt The genetic testing pioneer 23andMe has filed for Chapter 11 bankruptcy protection and announced that co-founder Anne Wojcicki has resigned as CEO. The San Francisco-based company, which revolutionized consumer DNA testing, revealed on Sunday that it will seek to sell “substantially all of its assets” through a court-approved reorganization plan. Chapter […]
Los Angeles Could Go Bankrupt, but Not Because of Wildfires Los Angeles County is confronting a growing financial crisis due to a surge in sexual assault lawsuits. With more than 7,000 claims filed against the county for alleged abuse in foster care, juvenile detention, and other programs dating back to the 1950s, the financial burden […]
Will Filing for Bankruptcy Affect My Job? Filing for bankruptcy is a significant decision that often raises concerns about its impact on various aspects of life, including your employment. While bankruptcy can provide a path to financial recovery, many people worry about how it might affect their current job or future career opportunities. This article […]
Will OpenAI Go Bankrupt in 2024? The Current State of Bankruptcy Rumors Recent discussions in the tech world have brought OpenAI, the company behind ChatGPT, into the spotlight, with rumors suggesting potential bankruptcy by 2024. However, these claims need a closer examination to discern their validity in the context of the ever-evolving AI industry. What […]
Why Do We Have Bankruptcy Laws? Bankruptcy isn’t a new concept by any means, but did you know that it is so fundamental to our national economy that it was actually enshrined in the US constitutional laws? Yes, if you are filing for bankruptcy, not only should you not be ashamed of doing so, but […]
What Is the Downside of Filing for Bankruptcy? Objectively speaking, bankruptcy seems like a pretty sweet deal: you build up debt, you file with the court, and then they wipe that debt out. You basically get all of the stuff that you spent that money on for free, other than your time and the cost […]
What Are Advantages of Filing Bankruptcy? From the time we are children, it is programmed into our brains that filing bankruptcy is a bad thing. Ever played Monopoly? If you file bankruptcy, you lose. You don’t get a second chance, you don’t get a reorganization plan or a path to rebuilding your financial future. You […]
Understanding Accidental Bankruptcy Fraud Bankruptcy fraud is often associated with deliberate and malicious intent. However, accidental bankruptcy fraud can occur when an individual unintentionally violates the complex laws and regulations governing bankruptcy. This type of fraud can still have serious consequences, however, even if the applicant’s intentions were anything but malicious. Understanding how accidental bankruptcy […]
U.S. Credit Card Debt Breaks Through to $1 Trillion For the first time in history, U.S. credit card debt has breached the $1 trillion mark. This startling revelation was shared by the Federal Reserve Bank of New York on Tuesday, August 8th, 2023. In the latest quarter, a dramatic surge was observed, with credit card […]
Top 5 Bankruptcy Filing Errors to Avoid Navigating the bankruptcy process can be complex and stressful. Unfortunately, small mistakes can lead to significant setbacks. Understanding the most common pitfalls can ensure your filing is handled correctly and efficiently. Here’s a look at the top five bankruptcy filing errors and how to avoid them: 1. Incorrect […]