‘Rich Dad, Poor Dad’ Author Files for Chapter 7 Bankruptcy

This video shows Robert Kiyosaki’s appearance on Oprah Winfrey’s talk show in 2000 following the publication of his successful financial self-help book, “Rich Dad, Poor Dad.” On October 12, 2012, Business Insider reported that Kiyosaki filed for Chapter 7 bankruptcy protection after losing a nearly $24 million court judgment to The Learning Annex, a private adult education school based in New York.

Business Insider described The Learning Annex as being “one of Kiyosaki’s earliest backers,” but the personal finance guru never paid Annex its rightful share after it arranged “the speaking engagements and platform that led to his massive success.”

“I took Kiyosaki’s brand and made it bigger. The deal was I would get a percentage, and he reneged,” Bill Zanker, The Learning Annex’s founder and chairman, told the New York Post. “We had a signed letter of intent. The Learning Annex is the greatest promoter….Oprah believed in him, and Will Smith believed in him, but he didn’t keep his promise to us.”

As Business Insider noted, Kiyosaki “probably won’t feel the pinch in his wallet” since “Forbes pegs his net worth around a cool $80 million.” However, we highlight famous bankruptcies like Kiyosaki’s to illustrate that many successful individuals experience financial hardships. If you are overwhelmed with debt because of late mortgage payments or astronomical medical bills, it is important for you to understand that you are not alone.

The good news is that filing Chapter 7 or Chapter 13 bankruptcy can help you get a fresh start. Contact our firm at (866) 930-7482 or complete the form on this page to let our Chicago bankruptcy lawyers see how we can help.

Benjamin Brand Services – Chicago bankruptcy attorneys

Survey Shows Happy Holidays Ahead for Seasonal Workers

This September 2012 video from WPRI-TV and a story published in the Chicago Tribune on October 16, 2012, shared two observations: there will be more seasonal or holiday employment opportunities this year than in years past, but the time to be looking for these jobs is right now.

According to the Tribune, an annual holiday hiring survey by Snagajob, the nation’s largest hourly employment network, found that 63 percent of year-end hiring managers intend to add seasonal workers this year. That is up 12 points from last year and the highest percentage since before the recession started in 2007. Many of the nation’s largest retailers will be hiring tens of thousands of holiday workers, with “a 10 percent increase from last year for many,” according to the Tribune.

There is more good news, though. The Tribune reported that that the pay for these seasonal jobs is likely to be “a tad better,” increasing from an average of $10.60 an hour last year to $10.70 this year. Additionally, about half of the seasonal positions are expected to offer full-time hours. According to the Tribune, that is the highest share in the survey’s five-year history. The Tribune also noted that you can help your odds of getting a job by being willing to work nights and weekends.

Money becomes tight for thousands of individuals during the holidays, and the stress can be even more overwhelming for families that are already struggling to pay their bills. You should know that filing Chapter 13 bankruptcy could help you avoid foreclosure so you do not have to worry about where you will be celebrating Christmas. By filing Chapter 7 bankruptcy , you could erase unsecured debt like credit card bills.

However, timing is critical and it could be in your best interest to take action before making a bad situation worse by accumulating more holiday debt before filing. Our Chicago bankruptcy lawyers can help you determine when is the best time to file when you contact our firm at (866) 930-7482 or fill out the form on this page to let our Chicago firm review your case.

Benjamin Brand Services – Chicago bankruptcy attorneys

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