Harrisburg, PA files for Bankruptcy
Pennsylvania’s capital city Harrisburg filed for bankruptcy protection on Wednesday October 12, 2011. Municipal bankruptcy filings are not common. These cases are filed under Chapter 9 of the bankruptcy code.
Harrisburg’s filing was done after a vote of the City Counsel Tuesday night but it isn’t a step the mayor’s office is agreeing with. Comments from the mayor’s office indicate a legal challenge may be coming to determine if the counsel had the authority to file the bankruptcy or if that was the responsibility of the mayor and solicitors office.
Harrisburg is far from my area and so are Chapter 9 cases but it is interesting when you see such a historic city having to take this kind of action. Orange County, California is probably the most famous Chapter 9 case. Some other famous bankruptcies include Donald Trump, Anna Nicole Smith, Zsa Zsa Gabor, Francis Ford Coppola, Jerry Lee Lewis, Oscar Wilde and many others.
If you can’t afford your bills bankruptcy might be an option. It isn’t something you want to rush in to but if you are struggling it is a tool that you can talk to an attorney about. The important thing is to find a real solution for you that will let you regain control of your finances.
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