NFL’s Terrell Owens threatened with foreclosure

According to an August 6 article of Realty Today, retired professional football player Terrell Owens is at risk of foreclosure if he fails to sell his property, which has a defaulted mortgage of more than $900,000.

Reports said Owens, 42, already placed his $2.2 million property in San Fernando Valley on the market with a slightly higher price than he originally acquired it. However, reports revealed that as of writing no one has shown interest in buying his home. The bank reportedly decided to pursue foreclosure proceedings after Owens failed to settle $905,417.06 worth of mortgage debt within the 90-day extension period given to him. Owens, according to other reports, admitted that after his football career he has no other source of income. The upcoming “hall of famer” who earned approximately $70 million in his career is also selling his 4,250 square foot property in Sherman Oaks.

If you are threatened with foreclosure, seeking an attorney’s advice is critical, especially if you are unaware of the process. Speak with a Fayetteville attorney at the Bradford Law Offices, PLLC today by calling (910) 668-0006 to find out how we can help protect your home from foreclosure.



Truth in Lending Violation Defense

The purchase of a home is often one of the most important purchases one will make in their lifetime, and one that carries of lot of financial weight. This significance is made clear in the Truth in Lending Act, which was enacted in 1968 as way of regulating the credit industry. It obligates lenders and businesses offering credit to give consumers a clear statement, known as a TIL disclosure, about the cost and risks associated with taking out the loan. This is meant to give the borrower security in having the exact costs of their loan spelled out for them, how much they are to put down each month, and the aggregate total of their financial commitment. Unfortunately, however, sometimes the exact opposite occurs when the lender violates the contract in some way- taking advantage of your time, money and financial security.

In dealing with such a drawn out, complicated legal process, it can be easy for the borrower to miss instances of violations that will harm their financial benefits and put them at unfair disadvantages that they shouldn’t ever be subject to. However, once a violation comes to your attention, it is difficult to know how to proceed in fighting for the compensation and correction of your loan. If not attended to properly, you may end up losing some of what you are entitled to. It is important that you have the proper guidance from someone who has experience in foreclosure defense who can walk you through the process.

Exercise Your Rights

There are many specifics surrounding a Truth in Lending statement, such as the required material the lender is obligated to include, the various regulations regarding your rights as borrower, and rules that are meant to give you more security. Without the guidance of a professional who understands the ins and outs of what makes up the complicated document and the varying implications that are not so apparent to others, it is far more likely that you will miss an opportunity to exercise your rights as your pursue action against a violating lender. At the Bradford Law Offices, PLLC, our Fayetteville foreclosure defense attorneys seek to provide you with the type of knowledgeable support that will keep you in the forefront of your case proceedings, and allow you to take the steps that will benefit you most. Some of the particularities surrounding Truth in Lending cases that our attorneys are equipped to handle include:

  • Analysis of accuracy of amounts listed in your loan disclosure, i.e. annual percentage rate, finance charges (late charges, prepayment charges, application and service fees), and total repayment amount
  • Detecting material mistakes made by lender, i.e. underreporting your APR and leaving off certain financial charges
  • Aid in planning monetary returns or as borrower, including principal, interest, and charges
  • Refinancing in order to tender full loan amount back to lender as required by law

Although working to fix the damage done against you in a Truth in Lending violation experience is quite possible, it is not a simple feat done without proper understanding of the various legal restrictions and regulations surrounding it.

Financing your home should be something that gives you security, and our defense attorneys at the Bradford Law Offices, PLLC, do not stand for the blatant injustices that sometimes occur against responsible borrowers. We firmly believe in representing our clients with the most support possible, and our experience in handling these types of cases makes us equipped to simplify the entire process and getting you what you deserve. You can’t afford to lose in a situation like this, and we want to help you come out on top. To speak with one of our attorneys and begin reviewing your case, call (910) 668-0006.



Gawker’s Denton sought Chapter 11 Bankruptcy protection

After Gawker Media filed for Chapter 11 Bankruptcy, its CEO Nick Denton also had filed for bankruptcy in connection with a judgment ordering them to settle $140 million to wrestling star Hulk Hogan, the Huffington Post reported on August 1.

In the Chapter 11 personal bankruptcy protection filed by Denton in New York, it identified the wrestler, whose real name is Terry Bollea, as his biggest creditor. Reports revealed that Denton will pay personally for the bulk of the settlement won by Hogan amounting to $125 million. A judgment favored Hogan after one of Gawker’s website posted a sex video showing him and the partner of one of his friends. Documents revealed that Denton listed $10 million to $50 million worth of assets while his liability was between $100 million and $500 million. The bankruptcy filing protected Gawker’s assets from being immediately seized by Hogan. Part of the bankruptcy, a $90 million was initially offered by Ziff Davis to buy the gossip media group.

Chapter 11 Bankruptcy also works like Chapter 13 to protect persons from creditors. If you want to know more about this legal option to get back your financial footing in Fayetteville, speak with a Bradford Law Offices, PLLC attorney today by calling (910) 668-0006.



Winn Dixie, 10 Years after Filing for Bankruptcy

The popular grocery store Winn-Dixie filed for Chapter 11 bankruptcy a little over 10 years ago. Despite its roots that trace back to 1925, the grocery store chain was forced to close over 350 locations back in 2005. Even the beloved children’s novel, Because of Winn Dixie, couldn’t save the store from the recession.

However, a lot has changed for the company since its financial decline in the early 2000’s. Winn-Dixie has since seen a huge increase in its profits, which pushed $10 billion in 2014. The chain began to modernize their stores and create new marketing strategies.

The Winn-Dixie brand was family-owned-and-operated until the food retailer was sold for $530 million to BI-LO holdings, the owners of Sweetbay Supermarkets. By 2013, all remaining Sweetbay Supermarkets were renamed Winn-Dixie. The Winn-Dixie name is now associated with over 500 locations.

Not all bankruptcies end in failure. If your business is considering filing for bankruptcy, you should find strong and knowledgeable legal support. The business bankruptcy lawyers at the Bradford Law Offices, PLLC have helped many businesses and individuals get through the complicated bankruptcy procedure and emerge successfully. Call our offices at (910) 668-0006 to hear more about what we can do for you!



What college students should do to reduce student loan debt

Many college students are left with serious student loan debt after graduation. Fortunately, there are some things they can do while in school to lower the amount they’ll owe later.

Freshmen may want to take survey courses freshman year, but settle quickly on which major they choose to pursue. Identifying a major early in college and sticking with it will reduce your chance of taking unnecessary courses. Diligent students, or those who have special talents in extracurricular activities, may want to apply for grants or scholarships at their school. You can also try to find an installment plan that allows you to pay your tuition in segments. Lastly, students may want to change their spending habits if they expect to save money. An easy way to save is to eat out less and get a roommate. 

Although the average amount families spent on college decreased this year, student loan debt is a problem that still plaques many graduates. If you are saddled by debt, an attorney at the Bradford Law Offices, PLLC can offer you solutions to help you recover from your student debt. Get in touch with a Fayetteville attorney by calling (910) 668-0006 to learn more about your options.



Ways to possibly prevent small business from accumulating too much debt

Many people nowadays are putting up their own small business, hoping it would sustain their everyday financial needs. However, some entrepreneurs in Fayetteville find themselves struggling with overwhelming debt. If you think you are in such stressful situation, there are various ways that you can do to keep your business afloat.

Entrepreneurs who have to consider a way to manage their debt may initially want to use their personal finances to sustain the cash flow of their business for a short period of time; most will do this only if they think it will benefit them in the future. Entrepreneurs may want to maximize the efficiency of their resource use to lessen their overhead cost. Options in reducing costs could be in the form of workforce reduction or subleasing of idle space. Always keep in touch with suppliers and customers to give you a realistic idea on how you could further improve your business. Make sure to regularly keep in touch with lenders and try to collate all of your debt to make it less difficult to pay.

While the above tips are worth considering to possibly save your business, the Fayetteville attorneys at the Bradford Law Offices, PLLC understand that there are still entrepreneurs out there having a hard time in dealing with their debt. If you think that your debt has become entirely unmanageable, discuss your situation with us today by calling (910) 668-0006 to find out how we may help you.



A Southern Season in NC seeking bankruptcy protection

A Southern Season in Chapel Hill, North Carolina recently filed for Chapter 11 bankruptcy after suffering financial losses, an article of The News & Observer reported on June 24. The company is using bankruptcy proceedings to evaluate their finances and reinvent their business.

Reports indicate that although the company sought bankruptcy protection, they will continue operation at some locations, including the Chapel Hill flagship store. Aside from addressing their financial woes, A Southern Season plans to stop the construction plans of bigger stores that will likely fail to generate enough revenue to sustain the business. Brian Fauver, the company’s chief financial officer, explained “With these big stores come liabilities that are not part of our go-forward plan.” The company is expecting to emerge from bankruptcy proceedings this December.

The team at the Bradford Law Offices, PLLC represent Fayetteville business owners who have decided to file for bankruptcy. We strongly believe that entrepreneurs should be given a second chance if their finances fall through. Discuss your situation with us today by calling (910) 668-0006 to learn more about your options.



Gawker Media Group sought bankruptcy protection

Well-known online gossip media company, Gawker Media Group sought bankruptcy protection on June 10 and part of the plan is to sell the company to possibly lessen income loss from a multi-million lawsuit filed by wrestling legend Hulk Hogan, The Washington Post reported.

According to reports, Gawker will continue their operations and appealed the $140.1 million judgment in March from the “privacy invasion” case filed by the wrestler in 2012. Hogan, whose real name is Terry Bollea, apparently won the case after he was financially supported by tech magnate Peter Thiel. Thiel reportedly admitted to supporting Hogan after a website owned by Gawker publicized him being gay. While filing bankruptcy, the legal counsel representing Gawker told reports they may contest a court’s order of having to settle a bond worth $50 million.

Filing for Chapter 11 Bankruptcy, fortunately, is worth considering for business owners who are stuck with overwhelming financial obligations from creditors. If you are in a similar situation in Fayetteville, the Bradford Law Offices, PLLC legal team may tirelessly work for you. Learn more about your legal options from us today by calling (910) 668-0006.



Chemical firm Vertellus Specialties files for Chapter 11 bankruptcy protection

Due to stiff marketing competition and “macroeconomic challenges,” Vertellus Specialties Inc., a novelty chemical company, recently filed for Chapter 11 Bankruptcy, an article of Indianapolis Business Journal reported on June 6.

The Indianapolis-based company, which has five facilities in other states, is well-known for their chemicals that are used in other industries and consumer products. In its bankruptcy documents filed recently, Vertellus has listed its liabilities between $500 million and $1 billion, while their assets range from $100 million to $500 million. Private equity company Wind Point Partners will likely sell Vertellus to a Delaware-based corporation, Valencia Bidco LLC, as part of the deal. Interested parties are given a deadline of August 15 to submit their bids. 

At the Bradford Law Offices, PLLC in Fayetteville, our team represents business owners who have decided to file for Chapter 11 bankruptcy. We may be able to work on your behalf to help you receive the best deal possible in your filing. Call our office at (910) 668-0006 to learn more about your legal options.



West Hollywood media company files for bankruptcy

Core Media Group, the company behind television hits “American Idol” and “So You Think You Can Dance,” recently sought bankruptcy protection due to overwhelming liabilities and decreased revenue. Court documents revealed the company’s profits declined after the TV show “American Idol” approached its final season due to plummeting ratings.

When “American Idol” began, it would regularly draw 30 million viewers per episode, but it only drew 13.3 million viewers during its final show. Core, based in West Hollywood, reportedly listed $512 million in liabilities and only $73 million in assets. The company claimed their revenue started to significantly decrease around 2015.

Filing for bankruptcy is a viable option for businesses that are faced with financial issues due to a decline in the economy, and working with a qualified lawyer could help you recover from serious financial troubles. If you are considering filing for bankruptcy, call (910) 668-0006 to speak with a lawyer at the Bradford Law Offices, PLLC to learn more about your options.



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