Latest on the Bankruptcy Blog

Rent-to-Own businesses have been around for some time and we are often consulted on if these types of installment plan purchases of household appliances and furnishings is a good idea. The answer is most often: rent-to-own is a very expensive way to do either. In fact, renting-to-own is often a costly financial mistake. What is  … Read more

First time home buyers are a vital part of the housing market in the United States, and according to recent reports, people buying their very first home is at a historic low point. The National Association of Realtor’s 2017 Home Buyers and Sellers Survey reported that first time home buyers has decreased 35% this year;  … Read more

Dairy Queen Franchise owner Vasari LLC, based in Irving, Texas, announced this week that it would be filling for Chapter 11 bankruptcy protection and closing nearly 30 stores as a result of the bankruptcy restructuring. The affected Ice Cream and Fast Food restaurants are located across Texas, New Mexico, and Oklahoma. The parent company of  … Read more

On October 5th, 2017, The Bureau of Consumer Financial Protection issued new rules to help further protect consumers from payday loans, title loans, and other similar types of high-cost installment loans. These measures are aimed at preventing individuals who are struggling with debt to become even more weighted down with the astronomical costs that these  … Read more

While Chapter 7 bankruptcy is a highly sought after form of debt relief, many clients worry about losing their home as a result of filing Chapter 7 bankruptcy. Therefore, it’s important to know what happens to a home you own when you file Chapter 7 bankruptcy.  Keeping Your Home Keeping your home in Chapter 7  … Read more

In recent business news, US Bankruptcy judge Martin Glenn of the Southern District of New York, approved an involuntary bankruptcy petition last week against Billy McFarland and the company he started called Fyre Fest LLC. This move will force the company to file Chapter 7 bankruptcy in order to satisfy the company’s investors, John Newman  … Read more