1. Kiyosaki’s Rich Global LLC To File BK

    Posted by Michael • October 12, 2012 @ 8:37 am
    1 Comment

    Those of you who follow the travels and travails of Rich Dad Poor Dad author Robert Kiyosaki will be interested to see this:

    NY Post: “Rich Dad Poor Dad” Author Files BK

    So it appears that one thing Mr. Kiyosaki’s “rich dad” taught him was that corporate BK is a perfectly valid method for retaining and shielding one’s personal wealth. In the three Rich Dad books I read, Kiyosaki was quite insistent that creating businesses and setting up corporations was a must.

    Because hey, you never know when you’re gonna lose a lawsuit for a $24 million breach of contract.

    Filed In: Bankruptcy, Books, Gurus, In the News, Robert Kiyosaki

    Permalink: Kiyosaki’s Rich Global LLC To File BK

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  2. Too Broke for Bankruptcy

    Posted by Michael • May 9, 2012 @ 8:05 am
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    Whaddya mean, they made bankruptcy too expensive to pursue? Say whaaaa?

    Yahoo Finance: Too Broke to Go Bankrupt

    Apparently, calling “Bankrupt!” and getting a do-over ain’t as cheap as it used to be. But then, what is?

    My favorite quote from the article reads thusly:

    Billy Brewer, president of the National Association of Consumer Bankruptcy Attorneys, said bankruptcy attorneys have no choice but to charge such high fees.

    “When clients come in and I tell them the fee, they look at me like I have two heads, and say: What part of ‘I’m filing for bankruptcy don’t you understand?’ But we can’t afford to do it for free,” said Brewer, who charges an average fee of $1,500. “Congress decided to make the process much more difficult and there’s much more paperwork involved, so attorneys are spending double the time they used to just to help someone file.”

    Well, I’m sure this was a completely unintended consequence of the 2005 bankruptcy legislation.

    Not.

    Filed In: Bankruptcy, Debt

    Permalink: Too Broke for Bankruptcy

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