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Chapter 7 Archives

Country singer filing for Chapter 7 bankruptcy protection

Maryland residents familiar with country music may recognize the subject of today's article, which focuses on the individual bankruptcy of a member of the hit band Montgomery Gentry. Eddie Montgomery, one-half of the famous duo, has filed for personal bankruptcy, seeking Chapter 7 bankruptcy protection in the state of Kentucky. Official reports show that the man's assets are valued at $1.9 million, while his liabilities are estimated at $13.4 million.

Multiple Chapter 7, 13 filings ultimately prevent foreclosure

Sometimes, persistence in bankruptcy court pays off for Maryland filers. In one case, a family was able to preserve the title to their $800,000 home after making five trips to a federal bankruptcy court. A couple in the case was able to claim that they were the victims of overzealous and needless prosecution by lenders who are looking to foreclose on the home unfairly. That process began in 2007 according to official reports.

Settlement reached in football coach's Chapter 7 bankruptcy

One type of personal bankruptcy that individuals here in Maryland sometimes file for is Chapter 7 bankruptcy. Such bankruptcies generally involve a discharge of debts. Recently, a settlement was approved in the Chapter 7 bankruptcy case of a public figure and the figure's debts were discharged.

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