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What Were the Biggest (and Most Famous) Names to Declare Bankruptcy in 2009?

Often, when faced with financial hardship, we wonder if anyone else has experienced what we are experiencing. Who else needs protection from foreclosure or a solution to credit card debt? Who else knows how it feels to be drowning in debt and not know how to pull themselves out?

As mentioned earlier this year, baseball star Lenny Dykstra had to file bankruptcy after a failed venture into entrepreneurship. Actor Stephen Baldwin fell behind on his mortgage and other debts and filed bankruptcy to get protection from foreclosure and get credit card debt help, among other things. Actor and comedian Sinbad is the most recent to get bankruptcy protection, filing in December due to unpaid back taxes. Not only are there some celebrities that have had to file bankruptcy, but also some big name companies. The Chicago Cubs, Bennigans, Eddie Bauer, and Reader’s Digest all filed bankruptcy this past year. And, even home town favorites Charter Communications and Six Flags faced the facts and filed bankruptcy.

After spending 15 years as a St. Louis Missouri and Fairview Heights Illinois bankruptcy attorney, I know that it can be of some comfort to know that other people have faced the same troubles that you have—and gotten through them. 2009 was a rough year for many—1,700 St. Louisans faced foreclosure every month on average and thousands more drowned in credit card and other kinds of debt. Still, some people are getting the help that they need with Chapter 7 and Chapter 13 bankruptcy in Missouri and Illinois. Wondering at what point you need to ask for help? You can request a free copy of the ultimate Missouri and Illinois bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know,” to figure out if you should file bankruptcy, when to file bankruptcy, and how to do it right the first time.

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