Former NBA Star Files for Bankruptcy

Ex-NBA great Derrick Coleman has had to file for Chapter 7 bankruptcy after he invested money into redeveloping Detroit. The investment has left him with a debt of $4.7 million. While he attempted to build up the city, the area and the businesses are struggling. The Chapter 7 filing will allow him to liquidate assets to satisfy creditors. Coleman hopes to hang onto both his home and the one he bought for his mother.  

It's never easy to find yourself needing to file for bankruptcy, but it's important that you understand that it does not have to be the end but the chance at a new beginning. You can recover from filing from bankruptcy if you make sure that this matter is handled properly. It's important that you know that you do have rights that should be protected during this difficult time. Your bankruptcy matter can be resolved in a beneficial way. It's in your best interest to work with a bankruptcy lawyer who understands these matters and will be able to guide you through the difficulties. You can count on an attorney to always have your best interest in mind while protecting your rights. A lawyer will know what you should do in order to move forward with your case. Contact a bankruptcy attorney today to begin discussing your case.