Bankruptcy Blog

The coronavirus has spared no one in it’s devastation of the U.S. economy. From iconic department stores to entertainment giants, many stores are now facing bankruptcy.  CMX Cinemas:Filed for Chapter 11 bankruptcy on April 25.  J. Crew:Filed for bankruptcy on May 4.  Gold’s Gym:Filed for Chapter 11 bankruptcy on May 4. JCPenney:Filed for chapter 11 bankruptcy on May 15 and plans on announcing the first phase of store closing in the coming weeks.  Pier 1
During this crisis, many credit card issuers are working to assist their customers by providing them with options to alleviate some of their financial burden.  We’ve compiled a list of some  issuers’ assistance efforts below. All measures are subject to individual eligibility and may not apply to all customers. American Express Advice on managing accounts onlineLower monthly paymentsRelief from late payment fees Bank of America Deferred paymentsRefunds on late fees Capital One Financial hardship support
As the New Year unfolds, watch out for the following retailers who may be filing for Chapter 11 bankruptcy in 2020.  Pier 1 ImportsThe company plans to close 450 of its 936 stores, cut 40% of its headquarters staff, and close many of its distribution centers. Bed, Bath & BeyondThis big-box retailer plans to close 60 stores in 2020. Fundamentally, this company has been unsuccessful in battling online retailers. GameStopWill GameStop be the next blockbuster?
The New Year is a great time to take a look at your debt situation and set resolutions that can help you get closer to your goals.  We’ve put together a few resolutions you might consider in 2020. Prioritize your debts: Make a list of your liabilities and organize them by interest rate. Plan to pay those with highest rates first.  Open an IRA: If you haven’t already, talk to your financial planner about an
The holidays are fast approaching, and we know that this season can be expensive! Sam Henry is here to help! We’ve put together a list of 5 tips for sticking to your holiday budget.  Decide how much you can spend Holiday money should come from your current disposable income. Ideally, you’ve saved some money throughout the year- but if not, cut back on extras such as movies, dinners, or coffee drinks until the holidays are