Latest on the Bankruptcy Blog

In June of 2013, the city of Detroit, MI filed for Chapter 9 bankruptcy. This was the largest bankruptcy claim by a city in the history of the U.S., with a debt between $18 and $20 billion. The case has raged in the courts for over a year and has captured media attention again and  … Read more

When you decide to apply for a credit card, there’s a lot of fine print to read through. You’ll find information on the promotional time period, APR, annual fees, and more – but you might miss the information about universal default.  A Closer Look The term “universal default” refers to a commonly practiced credit card  … Read more

If you’re in the process of making a large purchase – like a new memory foam mattress, a laptop computer, or a flat screen TV – the retailer may offer financing options. If you’re financing a big purchase, it’s critical to know the difference between deferred interest and waived interest. While financing options generally offer  … Read more

Many companies file for Chapter 11 bankruptcy when they get into deep financial trouble, and if they are successful, they can start over with a relatively clean slate. However, if they don’t make changes to the business model, they will inevitably run into the same problems as before. The following are a few facts and  … Read more