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Bakersfield, CA 93301
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Westlake Village, CA 91361
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Ventura, CA 93001
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Email: salehilaw@aol.com Fax: 805.830.0387
Serving California Bankruptcy Clients Since 1992
Experienced Chapter 7 and Chapter 13 Bankruptcy Attorney
Offices in Ventura, Santa Barbara, Bakersfield, and Woodland Hills
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Chapter 7 and Chapter 13 Bankruptcy Attorney Susan J. Salehi Bankruptcy Lawyer for Ventura County, Santa Barbara County, Kern County, Los Angeles County Chapter 7 and Chapter 13
Bankruptcy is NOT a Bad Word
Bankruptcy is not a bad word. The word bankruptcy is formed from the ancient Latin bancus (a bench or table), and ruptus (broken). In ancient Greece, the notion of debt forgiveness was unknown. If a man owed a debt that he was unable to pay, his entire family including any servants he may own became debt slaves. In England, the first official laws concerning bankruptcy were passed in 1542, under Henry VIII. At that time, a bankrupt individual was considered a criminal and, as such, subject to criminal punishment ranging from incarceration in debtors' prison all the way to the extreme sentence of death.
Modern bankruptcy laws and practices in the United States emphasize rehabilitating (reorganizing) debtors in distress with a limited emphasis on punishing the debtor. In a 1934 U.S. Supreme Court decision, the Court reveals that the primary goal of bankruptcy laws was to offer debtors a "fresh start" from financial burdens. In Local Loan v. Hunt, the Supreme Court asserts, "[I]t gives to the honest but unfortunate debtor a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt."
On April 19, 2005, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCA) of 2005 into law. The U.S. Department of Justice asserts that the BAPCA "opens a new era in the history of bankruptcy law and practice." On October 17, 2005 the BAPCA became effective. As he signed the bill, President Bush declared, "Under the new law, Americans who have the ability to pay will be required to pay back at least a portion of their debts. Those who fall behind their state's median income will not be required to pay back their debts. The new law will also make it more difficult for serial filers to abuse the most generous bankruptcy protections. Debtors seeking to erase all debts will now have to wait eight years from their last bankruptcy before they can file again. The law will also allow us to clamp down on bankruptcy mills that make their money by advising abusers on how to game the system."
Do not feel alone! Bankruptcy filings are increasing every year.
If you're feeling alone and depressed because you have problems with debt, cheer up -- you're in the company of the (fleetingly) rich and (mostly) famous. As the following list of famous people confirms, anyone can find themselves unable to pay their bills. A high income does not prevent your from financial problems. This list proves that financial trouble are not limited by socio-economic status. People with all levels of income can overcome their financial problems by filing bankruptcy. Most of these celebrities not only recovered financially, but many went on to earn great wealth after filing bankruptcy.
Phineas Taylor (P.T.) Barnum - Founder of Barnum Circus (who later merged his circus with James Bailey to form Barnum & Bailey Circus)
Kim Basinger - Actress
L. Frank Baum - Wizard of Oz author
King Edward II - 14th century English King
Lorraine Bracco - Actress (Dr. Melfi - Sopranos)
Mathew Brady - Distinguished Civil War photographer
Toni Braxton - Singer
George Clinton - Singer ("Atomic Dog")
Samuel L. Clemens ("Mark Twain") - Author
Natalie Cole - Singer
Gary Coleman - Actor (Arnold - Different Strokes)
John Connally - Former Texas Governor
Francis Ford Coppola - Film Director/Producer
Cathy Lee Crosby - Actress
Vic Damone - Singer
Dorothy Dandrdge - Actress
Dino De Laurentis - Film Producer
Walt Disney - Film Producer & Theme Park Pioneer
Eddie Fisher - Actor
Mick Fleetwood - Singer (Fleetwood Mac)
Heidi Fleiss - Clothing Line Founder & Famous Hollywood Madam
Henry Ford - First two automobile companies failed
William Fox - Co-founder of 20th Century Fox Film Corporation
Marvin Gaye - Singer
Andy Gibb - Singer
Charles Goodyear - Founder of Goodyear Tire Co.
Ulysses S. Grant - 18th U.S. President & Civil War General
Bob Guccione - Publisher/Founder of Penthouse Magazine
Merle Haggard - Bakersfield, California raised County & Western Singer
Corey Haim - Actor (Star of The Lost Boys (1987))
Dorothy Hamill - Olympic Ice Skater
M.C. Hammer - Singer/Rapper ("Can't Touch This")
Richard Harris - Actor/Producer/Director
Isaac Hayes - Songwriter/Musician/Singer
Henry John Heinz - Famous Condiment Manufacturer
Sherman Hemsley - Actor (George Jefferson from The Jeffersons)
Milton Snavely Hershey - Founder of Hershey's Foods Corp.
Ron Isley - Singer
Jermaine Jackson - Singer (Michael Jackson's brother)
Joe & Katherine Jackson - Parents of the Michael Jackson
La Toya Jackson - Singer (Michael Jackson's sister)
Randy Jackson - Singer (Michael Jackson's brother)
Tito Jackson - Singer (Michael Jackson's brother)
Thomas Jefferson - American Founding Father and President
Don Johnson - Actor/Producer
Kacey Jones - Singer
Chaka Kahn - 80's R & B Singer
Larry King - Talk-show Host/Author
Bowie Kuhn - Former Major League Baseball Commissioner
Lorenzo Lamas - Actor
Cyndi Lauper - 80's Singer
Stan Lee - Co-creator of Spider Man, The Incredible Hulk, The X-Men, etc.
Jerry Lewis - Actor
Jerry Lee Lewis - Singer
Meat Loaf - Singer
Jorge & Joanne Lopes - Winners of the $110.3 million 2002 Big Game Multi-state Lotto jackpot.
Wolfgang Amadeus Mozart - Famous Musical Composer
Willie Nelson - Country & Western Singer/Songwriter
Wayne Newton - Famous Singer/Actor who regularly performs in Las Vegas
Immanuel Nobel - Father of Alfred Nobel (who founded Nobel prizes)
Johnny Paycheck - Country & Western Singer
Tom Petty - Singer
Susan Powter - Exercise/Fitness Expert
Burt Reynolds - Actor/Director
Debbie Reynolds - Actress/Singer
Rembrandt Heremenszoon Van Rijn - Famous Dutch painter
Juan Rodriguez - $149 million New York Mega Millions Lotto jackpot winner (He filed shortly before winning).
Mickey Rooney - Actor
Harry Saltzman - Film Producer (James Bond movies)
Shenandoah - Country Music Band
Anna Nicole Smith - Model/Actress
James & Lynne Spears - Britney Spear's parents
William G. Stern - British property mogul
J. Fife Symington - Governor of Arizona
Donald Trump's Trump Hotels and Casino Resorts Inc.
Mike Tyson - Boxer
Johnny Unitas - Hall of Fame Quarterback
Oscar Wilde - Acclaimed Author and Poet
Tammy Wynette - Singer
Michael Vick - NFL player
Randy Quaid - actor
Lenny Quaid - actor
Strephen Baldwin - actor
Nicolas Cage - actor
Julius (Dr. J) Irving - former NBA player
Orange County, California
Los Angeles Dodgers!!!
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