Bankruptcy Blog

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
A recent study by LendEDU determined that 32% of people filing for Chapter 7 bankruptcy had student loan debt, and almost half of their total debt came from student loans.  It’s a common myth that student loans can’t be discharged in bankruptcy, so why aren’t more borrowers pursuing it? If you are contemplating filing for bankruptcy due to student loan debt, consider the Brunner test to determine if you would be eligible. The Brunner test
According to the Federal Reserve Bank of New York, late credit card payments have been ticking upward for the past 2 years. Card delinquencies have been rising for borrowers under 30 in particular. The major credit bureau, Experian, said the average card balance as of May 2019 was $6,553.  There are steps that consumers can take if they are having trouble making payments. They can start by contacting their card companies and asking for a