Is your favorite store filing bankruptcy? Credit Suisse predicts another wave of retail store business bankruptcy filings this year.  In 2017, fifty separate retail giants filed bankruptcy due in large part to the emergence of Amazon and other online retailers.  Many investors anticipate 2018 will be even worse for typical brick-and-mortar retailers. 2017 Retail Store... Read More

Start 2018 Off Right – Use Your Tax Refund to File Bankruptcy Filing Bankruptcy with your tax refund may sound like a boring way to spend your refund.  People like to use their tax refund for big luxury purchases, expensive car repairs, home improvement – any expense that requires a quick influx of a couple... Read More

Multiple Bankruptcy Filings A myth exists that states you can only file bankruptcy once in your life.  That is simply untrue and for good reason.  One may have multiple bankruptcy filings.  Bankruptcy is meant to allow the honest but unfortunate citizen a means of getting back on his or her feet.  This benefits the citizen,... Read More

History of Bankruptcy The History of Bankruptcy hearkens all the way back to Ancient Greece.  Actually, the word “bankruptcy” comes from the combination of the Ancient Latin words “bancus” (bench or table) and “ruptus” (broken).  It was commonplace for bankers to conduct business in the village square on a small bench.  If, for whatever reason,... Read More

You May Discharge Student Loans Through Bankruptcy The general rule is that student loans are not dischargeable in bankruptcy.  In order to discharge student loans in bankruptcy, you must satisfy the Brunner Test.  The Brunner test requires that you must demonstrate that (1) you cannot maintain, based on current income and expenses, a ‘minimal’ standard... Read More

The average American’s debt hits records levels this year. The previous record holder was a collective $1.02 trillion in 2008 just before the Great Recession. The average American’s debt has now hit a collective $1.021 trillion – the highest it has ever been. Average American’s Debt Hits Record Levels We should all treat this as... Read More

Bankruptcy is good social policy. There are many myths surrounding bankruptcy.  People think that you can just run up a bunch of debt, file a bankruptcy and walk away scot-free.  That is far from the case.  The bankruptcy code contains numerous provisions to explicitly prevent abuse. Bankruptcy abuse prevention For example, the bankruptcy code’s “means... Read More

Hot Yoga Files Bankruptcy That’s right – the company that brought hot yoga to the U.S. files for Chapter 11 Bankruptcy after the founder’s sexual harassment scandals cost the company millions. Chapter 11 Bankruptcy Due to Chapter 13 Debt Limits Chapter 11 Bankruptcy applies to business entities like corporations. Chapter 11 Bankruptcy can enable a... Read More

Paying Off Student  Loans Early May Be a Big Mistake Student Loans Start Off Well-intended Student loans are great.  They allow you to seek out your dreams and pursue your passions.  Most importantly, they enable you to earn more money so you can provide a better life for yourself and your family.  But student loans... Read More

How Long Does Bankruptcy Stay on Your Credit Report? How long bankruptcy stays on your credit report is a factor to consider prior to filing bankruptcy.  Your credit report is important when it comes to financing a car or a house.  Understanding how bankruptcy may affect your credit is key to knowing what to expect... Read More