Bankruptcy

Blog Posts

  • Millions could get boost in credit score this summer March 29, 2017 Credit Reports to Exclude Certain Negative Information, Boosting FICO Credit Scores, by AnnaMaria Andriotis at The Wall Street Journal As a result of increasing pressure from Consumer Financial Protection Bureau and other regulatory concerns, the…
  • How To Repair Your Credit After Bankruptcy March 29, 2017 You have summoned the courage and the anxiety to face your debts. You are proud of yourself for facing your fear and challenging yourself to let go long enough to go through the bankruptcy process and get rid of your debt. And you did it! I can't…
  • Ukraine's Defenses to Russian Bond Claims Rejected March 29, 2017 The judge hearing Russia's lawsuit to enforce its $3 billion loan to Ukraine issued an opinion today, rejecting Ukraine's defenses to the lawsuit. Bloomberg and the Financial Times both have coverage of the decision. We've discussed…
  • The Structure of Dismissals – Supreme Court's Jevic Decision Lays Out Ground Rules for Parties Seeking to Resolve Bankruptcies Through the Increasingly Popular Method of Structured Dismissals March 29, 2017 On March 22, 2017, the Supreme Court in Czyzewski v. Jevic Holding Corp., 580 U.S. __ (2017) held that a bankruptcy court does not have the power to approve a structured dismissal of a bankruptcy case that violates the Bankruptcy Code's priority…
  • Education Department Eliminates Protections for Borrowers with Defaulted FFEL Loans March 29, 2017 Last week, we published a blog discussing the rising rates of defaulted student loans. The blog mentioned former protections afforded to borrowers with defaulted Federal Family Education Loans (FFEL loans). Under the Obama administration, some…
  • Supreme Court Strikes Down State No-Surcharge Law March 29, 2017 The Supreme Court ruled today in Expressions Hair Design v. Schneiderman. The Court unanimously ruled for the merchant plaintiff that was challenging New York State's no-surcharge law. 5 Justices were on the majority opinion with a pair of…
  • Jevic Commentary March 29, 2017 Just a cross-posting note: Jonathan Lipson and I comment on the U.S. Supreme Court's Jevic decision at the Harvard Law School Corporate Bankruptcy Roundtable.
  • Can Chapter 11 Reduce or Eliminate Debt for Businesses in California? March 29, 2017 Last year, California-based clothing retailer Pacific Sunwear, better known by its shortened name PacSun, drastically reduced its debt from $88 million to just $30 million by giving stock to senior lender Golden Gate Capital as part of a Chapter 11…
  • News Headlines for Mar 29, 2017 March 29, 2017 Ocean Rig UDW files for bankruptcy protection – MarketWatch ,Ocean Rig UDW Inc. Reaches Agreement On Comprehensive Deleveraging And Recapitalization Transaction ,Unreachable Huishan Executive Exposes China Debt, Bank Risks – Bloomberg…
  • Read Issue #75 of Our Bankruptcy & Restructuring Newsletter March 29, 2017 Check out our latest issue (issue #75) of our exclusive bankruptcy & restructuring newsletter, which was just released today. You can find it and sign up to receive future issues directly by email by visiting:…
  • 5 Signs It's Time to Consider Bankruptcy for Small Business March 29, 2017 Bankruptcy filings have fallen from their high of 1.2 million in 2012 to just over 800,000 for 2016. This significant decrease has been felt by most states aside from Alaska, North Dakota, Wyoming, and Montana owing to the downturn in the fossil fuel…
  • How Bankruptcy Can Free You from the Debt Trap March 28, 2017 Many people have misconceptions about bankruptcy and what it is designed for. Let's shed some light on two aspects of bankruptcy. First, how bankruptcy protects us from malicious credit and debt collection harassment. Second, what a powerful…
  • How Will Bankruptcy Affect My Credit? March 28, 2017 FICO Corporate logo. (PRNewsFoto/FICO) One of the major concerns people have when they consider filing for bankruptcy is the damage it will do to their credit. Understandably, they worry that their credit score will plummet and that it will be…
  • $45 Million for Stay Violations March 28, 2017 How much in punitive damages is enough to punish unlawful conduct and deter its repetition? $45 million was one bankruptcy court's opinion, in the case of a wrongful home foreclosure and eviction in knowing violation of the automatic stay. The…
  • News Headlines for Mar 28, 2017 March 28, 2017 Fitch Identifies Six Media Companies as Likely to Default in 2017 – WSJ ,How to Manage Relationships With Financially Distressed Companies ,9 restaurants, 1 kitchen, no dining room — virtual restaurants open for online delivery –…
  • Read Issue #74 of Our Bankruptcy & Restructuring Newsletter March 28, 2017 Check out our latest issue (issue #74) of our exclusive bankruptcy & restructuring newsletter, which was just released today. You can find it and sign up to receive future issues directly by email by visiting:…
  • Is Sears Filing for Bankruptcy? March 28, 2017 In a recently posted blog, the owner of the Sears chains slammed recent media reports about bankruptcy concerns. The company is currently in the process of making steps to fix its finances following years of sales declines. Is Sears Filing for…
  • Financial Resolutions for 2017 March 27, 2017 Financial Resolutions for 2017 We are well into 2017, over halfway through the first quarter. How are you doing on those resolutions, Arizona? Many of us are forced to admit that we aren't doing so well, but it isn't too late. Today you can make a…
  • Bankruptcy – Can I cancel My Reaffirmation Agreement? March 27, 2017 When you file bankruptcy all, if not most, of your debts are discharged, which means you are no longer responsible for them. A Reaffirmation Agreement is a brand new agreement or contract between you and your creditor in which you voluntarily choose…
  • Debt Problems: How Do Wage Garnishments Work? March 27, 2017 Wage garnishments are one of several tools creditors may use to collect your defaulted debts. Most creditors have to obtain a judgment before they can garnish your wages. After a creditor receives a judgment, your employer will be required to hold…