Blog Category: News


Americans Optimistic About Personal Finances in 2018

Americans Optimistic About Personal Finances in 2018

In a recent survey, 67% of Americans are hopeful about their personal finances and expect them to improve in the New Year. Only about 10% of the respondents felt that their finances will get worse. A third of respondents claimed that paying down debt is a top priority and will focus on eliminating the debt  … Read more

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Senate Bill Proposes Bankruptcy Changes for Companies

Senate Bill Proposes Bankruptcy Changes for Companies

Lawmakers in the United States Senate have introduced a bill that proposes bankruptcy changes for companies that are incorporated in Delaware or New York this week. Texas Senator John Cornyn (R., Texas) and Elizabeth Warren (D. Mass.) introduced the bill this week that requires companies seeking to reorganize their finances, file bankruptcy closer to their  … Read more

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Texas Bankruptcy Watch: The Brass Tap Inc. Filed Chapter 7

Texas Bankruptcy Watch: The Brass Tap Inc. Filed Chapter 7

San Antonio, Texas will have one less eatery and watering hole this week as The Brass Tap closes its doors. Graystone Group Inc. that operates the restaurant and bar, file for Chapter 7 bankruptcy protection with the U.S. Bankruptcy Court. After more than four years of business, the company has closed its operations as of  … Read more

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More US Department Stores Likely to Declare Bankruptcy

More US Department Stores Likely to Declare Bankruptcy

There’s no doubt that retail stores in the United States took a financial beating this year. In all, there were 21, high profile retailers that filed for Chapter 11 bankruptcy protection, including very big brands such as Toys R Us, Vitamin World, Hhgreegg, The Limited, and Gander Mountain. Some have even called the string of  … Read more

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Congress Introduces Payday Lending Legislation

Congress Introduces Payday Lending Legislation

In October of 2017, the Consumer Financial Protection Bureau leveed new rules on the payday loan industry, requiring these quick cash establishments to check a borrower’s ability to pay back the money before getting access to cash. At the time, the CFPB’s actions were expecting opposition from industry lobbyist and lawmakers alike, and this week  … Read more

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Houston Plant Closes due to Chapter 11 Bankruptcy

Houston Plant Closes due to Chapter 11 Bankruptcy

On December 7th, 2017, the Chattanooga, Tennessee based architectural and structural metal Manufacturing Company named Lectrus Corporation filed a voluntary petition for Chapter 11 bankruptcy protection with the U.S, Bankruptcy Court in the Eastern District of Tennessee. This move normally wouldn’t be newsworthy in Houston Bankruptcy news, however, this particular company has a manufacturing plant  … Read more

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Texas Fuel Cell Company Amfuel Files for Chapter 11 Bankruptcy

Texas Fuel Cell Company Amfuel Files for Chapter 11 Bankruptcy

On November 26th, 2017, a manufacturer and fabricator of self-sealing and crash resistant aviation fuel cells based in Wichita Falls, Texas, filed for Chapter 11 bankruptcy with the U.S. bankruptcy Court in  the Northern District of Texas. The privately-held company, called Amfuel, also has a production facility in Magnolia, Texas and employs around 200 people.  … Read more

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Consumer Financial Protection Bureau sues Freedom Debt Relief

Consumer Financial Protection Bureau sues Freedom Debt Relief

The U.S. Consumer Financial Project Bureau (CFPB) announced in early November, 2017 that it has filed a lawsuit against Freedom Debt Relief, which is the largest debt settlement services provider in America. In the lawsuit, the CFPB alleges that the Freedom Debt Relief Company, who claims they can resolve debts for less than you owe  … Read more

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Household Debt in US hits $13 Trillion

Household Debt in US hits $13 Trillion

Household Debt in the United States is on an upward trend for the 13th consecutive quarter according to the Federal Reserve. This is a new milestone in household debt, as it has exceeded its peak in the third quarter of 2008. As a result, delinquency rates in credit-card and auto debt have also risen. Overall,  … Read more

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Getting Insurance Money after Flooding Faster

Getting Insurance Money after Flooding Faster

People who have suffered losses to their home due to flooding may be able to get their insurance money a little faster. On Monday, the Federal Emergency Management Agency (FEMA), announced a temporary change to policy that would “rush recovery money” for those that held National Flood Insurance Policies. For those that opted for National  … Read more

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