Former Major League Baseball player Jose Canseco has filed for Chapter 7 Bankruptcy.

Filing in Las Vegas Tuesday, the 1988 American League MVP listed less then $21,000 in assets with over $1.5 million in liabilities.

Jose Canseco won the World Series twice and hit 462 home runs over the course of his 16-year professional baseball career. He later wrote a tell-all book, titled Juiced: Wild Times, Rampant ‘Roids, Smash Hits & How Baseball Got Big.

Financial hard times can fall on anyone. If you are facing overwhelming financial difficulties, you may be eligible for Chapter 7 bankruptcy. Contact the Cedar Rapids Chapter 7 bankruptcy attorneys of Hong Law, PLC, at 319-632-1400 to learn more.

The Journal Times reports that the former chairman of the Bank of Elmwood has filed for bankruptcy, following lawsuits his employees filed against him accusing him of ruining their stock.

The bank’s stock fell to zero when it was shut down by state and federal regulators in 2009. Half of the bank was owned by its employees, four of which are suing the bank’s former chairman for their losses.

In a self-interested move, the ex-chairman and CEO of the bank, Jess Levin, filed for Chapter 7 bankruptcy. Chapter 7 offers a wide range of protections, including staying, or preventing, the action of new and existing lawsuits against you.

If you are facing innumerable financial burdens, filing for personal bankruptcy may help. If you are considering filing for bankruptcy, contact the Chapter 7 bankruptcy attorneys of Hong Law, PLC, at 319-632-1400.

Before it could bring 300 new jobs to Webster City, car maker Auto Manufacturing Systems, Incorporated had to file for bankruptcy. The company was hired to build battery-powered cars and fill a jobs hole left by the closure of the Electrolux plant last year.

Unfortunately, it filed for Chapter 7 bankruptcy this week, despite being loaned $790,000 by the city to fund the project.

Normally businesses file for Chapter 11 bankruptcy to reorganize their debt while keeping as many of their assets as possible. A Chapter 7 bankruptcy includes a liquidation of assets to help forgive debts, and probably the end of the business.

If you are struggling to keep up with your financial obligations, you may be eligible for Chapter 7 bankruptcy. Contact the bankruptcy attorneys of Hong Law, PLC, at 319-632-1400 to learn more.

Nadya Suleman, better known as the ‘Octomom’ for giving birth to octuplets in 2009, has had her bankruptcy filing thrown out of court. Estimates show that she has accumulated $1 million in debt.

The single mother of 14 children filed a Chapter 7 bankruptcy case that was thrown out because she failed to file several important financial documents with the court. The dismissal of her case means her creditors can now move to claim what they are owed.

Suleman owes money to as many as 20 individual parties, including her father and a Christian school. To help make money, she has sold photos of herself and her children to tabloids.

Having an experienced bankruptcy lawyer can greatly increase the chances of a successful bankruptcy claim. If you need to have your debt forgiven, contact the Chapter 7 bankruptcy lawyers of Hong Law, PLC, today at 319-632-1400.