Blog Category: News

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

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

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

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

Payless Shoesource, the American discount footwear retailer headquartered in Topeka, Kansas, will emerge from Chapter 11 bankruptcy protection next week, offering the company a new lease on business. Payless was able to use Chapter 11 bankruptcy protection to shed more than $435 million in debt, but at a cost of closing over 670 stores. Payless  … Read more

An amendment to a federal rule typically take three years. It must first be approved by the Standing Committee, then the Judicial Conference, and then sent to Congress for final review. After many years of consideration in both the Supreme Court and Congress, bankruptcy laws will be getting an update for the first time since  … Read more

Bankruptcies were reported to be up in both central Texas, as well as, state wide this month. While the numbers weren’t necessarily trend worthy, the increase in bankruptcy filings in Texas did spark attention. Among the most common reasons cited for filing for bankruptcy were medical debt and losses tied to oil and gas investments.  … Read more

Peter Pinto, the Chief Executive Officer of the debt collection agency, Oxford Collection Agency, received a 48 month prison sentence in New York this week for his role in a $12 million dollar fraud case. Pinto was sentenced after pleading guilty to the fraud and money laundering charges last year following his supervised release. Debt  … Read more

The previous 18 months have been extremely tough on the financial health of restaurant chains across America. Logan’s Roadhouse, Quaker Steak & Lube, Zio’s Italian Kitchen, and many other eateries littered the news last year reporting failed earnings, fleeing customers, and closed stores. This week the casual crab dinner Joe’s Crab Shack files for bankruptcy under  … Read more

A sprawling metropolis in the state of Texas, Houston is also the fourth most populous city in the whole of United States. Lovingly referred by the natives as the ‘Space City’, Houston can be rightly touted as a global hub of business, culture, international trade, fashion, media, technology, education, sports, science, medicine, and even research.  … Read more