bankruptcy blog

With the national student debt level topping $1.4 trillion, it not only equates to the second highest amount of household debt next to mortgage payments in America, it’s actually an obstacle to new graduates wanting to buy their first home and start a family. The Student Loan Report for Q4 of 2017 depicts no abetment  … 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

The opening of health plan enrollment plan under the Affordable Care Act has many Americans over the age of 65 thinking of and planning for their medical expenses and procedures for 2018. For many seniors, the process of picking medical coverage is especially complex as Medicare doesn’t cover everything, which can in turn cause excessive  … Read more

While the Cornbread Ventures LP partnership is based in Houston, Texas their chain of South-Western inspired restaurants called Z’Tejas filed for chapter 11 bankruptcy in Phoenix Arizona this week. The owners hoped to turn the failing chain of nine restaurants around to profitability when they acquired them two years ago. Z’Tejas will be closing four  … 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

Seadrill, a deep-water drilling contractor that provides offshore drilling services to the oil and gas industry, announced that the company plans to file for Chapter 11 bankruptcy protection by mid-September of 2017, in order to implement a restructuring plan. In a statement by Seadrill’s CEO Anton Dibowitz, the company’s “primary objective at the moment is  … Read more

The privately held, US based manufacturer of polyester resins, synthetic resins, plastics materials, and non-vulcanized elastomers, M&G Polymers USA, filed for Chapter 11 bankruptcy this week, listing between $100 million and $500 million in liabilities, 200-999 creditors, and $500 million to $1 billion in assets. The company is owned by M&G Chemicals Group, which is  … Read more

The Ruby Tequila’s Mexican restaurant is a local Houston Texas based chain serving casual Tex-Mex cuisine. The company, owned by Fired Up Holdings ran into legal trouble in July of this year when a group of employees began complaining about not receiving a paycheck. By September, 63 of the former Ruby Tequila’s employees had filed  … Read more

As retail companies across the US continue to be financially battered by a paradigm shift in consumer shopping habits, Toys R Us is seeking $400 million in new financing in order to cover its 2018 debt maturities. The move to raise the funding could be structured in a way to finance a Toys R Us  … Read more