Actor Stephen Baldwin has filed for Chapter 11 bankruptcy. Photo courtesy of www.lukeford.net.

Actor Stephen Baldwin and his wife filed for Chapter 11 bankruptcy last year to reorganize their finances.  Baldwin is best known for his appearances in the Young Riders, Threesome, and the Usual Suspects.  He is the brother of William, Daniel and Alec Baldwin.

They list a million dollar home in Rockland County, New York, a couple of businesses, and a couple of Volvos as assets among other things. Here you can read the important documents from their bankruptcy which is still ongoing including the list of all their assets (they provided so little detail that the average person who files bankruptcy would draw objections if they did it this way), and their monthly operating reports which are mandatory in Chapter 11. They appear to be overdue for May and June 2010, and appear to have filed late operating reports in the past assuming that they are due the 20th day of the month following the month that they are for. It is interesting so see how celebrities in bankruptcy live. Maybe it provides some comfort to you to understand that even people who seem to have it all still have problems and still file late reports.

Docket Report – Shows all events and Documents Filed Except Claims

Petition and Schedules Listing Liabilities

Certificates of Credit Counseling

More Schedules

Amended Schedules – Creditors

Operating Report – August 2009 – Part 1

Operating Report – August 2009 – Part 2

Operating Report – September 2009

Operating Report – October 2009

Operating Report – November 2009

Operating Report – December 2009

Operating Report – January 2010

Operating Report – February 2010 – Part 1

Operating Report – February 2010 – Part 2

Operating Report – February 2010 – Part 3

Operating Report – March 2010

Operating Report – April 2010 – Part 1

Operating Report – April 2010 – Part 2

Antoine Walker - Photo courtesy of www.ktown213.com

May 29, 2010 – Antoine Walker, former NBA player, has filed a petition for Chapter 7 bankruptcy in Miami, Florida. Walker’s attorney was paid $20,000 for the filing of which $10,000 was paid by Walker’s friend and University of Kentucky teammate Nazr Mohammed. The schedules listed four pieces of property including his $2.3 million dollar Miami home with a $3.6 million dollar mortgage on it. He listed $19,000 in household goods without giving a specific list, clothing valued at zero, and interestingly enough no books, no magazines, no collecrtibles such as plaques, certificates, or other memorabilia. Strange for a pro-athlete.

The documents are available for viewing here:

Antoine Walker Bankruptcy Court Docket Sheet as of May 28, 2010
Antoine Walker Bankruptcy Petition and Schedules of Assets and Liabilities
Antoine Walker Bankruptcy Creditors Meeting Notice
Antoine Walker Bankruptcy Credit Counseling Certificate
Antoine Walker Bankruptcy Statement of Intentions
Antoine Walker Bankruptcy Declaration Regrading Pay Advices
Antoine Walker Bankruptcy Means Test Exclusion Due to Business Debt
Antoine Walker Bankruptcy Declaration for Electronic Filing
Antoine Walker Bankruptcy Disclosure of Compensation of Attorney for Debtor
Antoine Walker Bankruptcy Certificate of Mailing of Creditors Meeting Notice
Antoine Walker Bankruptcy Notice of Appearance
Antoine Walker Bankruptcy Application to Employ
Antoine Walker Bankruptcy Order Granting Application to Employ

I would like to thank www.ktown213.com for the photograph.

1. Surrener
2. Redeem
3. Reaffirm
4. Reaffirm and Rescind
5. Reaffirm and Argue to the Judge to not approve the reaffirmation
6. “Ride Thru” or Keep and pay and not reaffirm.

Read the full story….

Bankruptcy in Austin, Texas

While I do not agree with Stephen’s general view of Chapter 13 and his expectations for people in bankruptcy, I think that the book is an invaluable source of information that you will need in order to get credit especially while in a Chapter 13 bankruptcy.

Here is my book review of Stephen Snyder’s book on getting credit in and after a Chapter 13:

Austin Bankruptcy Attorney Alex Wathen

Austin, Texas – Austin Bankruptcy Attorney Alex Wathen announced today that he has signed a contract on his new Austin office that will open shortly. It will be located at 11782 Jollyville Road which of off North U.S. 183 between Pavillion Boulevard/Riata Trace Parkway and Duval Road. The location is ideal for clients with easy access also from the MoPac Expressway, Capitol of Texas Highway, and Highway 45. Alex is proud to be partnering up with Foxglove Executive Suites who will provide the day to day support necessary to make this office a success. “Foxglove has a great reputation for making law offices a success and I am very proud to be working with them to make my new office a success,” Wathen said.

While an office in Austin is new expansion for Alex Wathen, he has been an Austin bankruptcy attorney for years, representing clients in Bankruptcy Court in the Austin Division of the Western District of Texas since 2004. “It has been my pleasure to practice in front of Judge Frank Monroe, and now with Judge Gargotta serving in Austin, I am excited to continue practicing bankruptcy law in Austin, ” Wathen said.

Although Alex is most well known for his bankruptcy practice he also has an extensive state and federal appellate practice that has also brought him to Austin. The Austin office is an opportunity to better serve clients in the Texas state appellate courts as well as the non-bankruptcy federal litigation and appeals in the Western District. “My Austin and San Antonio offices are a perfect complement to each other allowing me to better serve my clients in the heart of Texas,” Wathen said.

Alex Wathen is Board Certified in Consumer Bankruptcy Law by the Texas Board of Legal Specialization and also serves on the Board of Legal Specialization Bankruptcy Exam Commission. His law practice involves primarily representing individual and small corporate debtors in Bankruptcy as well as state and federal appeals. He has clients throughout the country and is a member of the Bar of most federal Circuit Courts of Appeal as well as the United States Supreme Court. Alex Wathen regularly has oral argument in front of federal appeals courts in different parts of the country.

For more information contact Alex Wathen at (512) 391-1886 or (888) 305-1919.