Many people are unaware of the rules that surround the bankruptcy filing process. For example, in order to qualify for Chapter 7 a filer must pass the means test, which essentially compares their income level to the median income level of the state. While many people are disqualified from a Chapter 7 case at this  … Read more

Although the number of consumers filing for bankruptcy has risen over the last few years, not all states are equally affected. As economic pressures continue to batter the financial lives of many, residents of some states have been able to make it through unscathed. A new study shows that the number of Texas bankruptcy filings  … Read more

Once Swedish automaker Saab has been owned and operated by General Motors for quite some time now. Despite hopes the previous buyout would save the company from financial peril, the automaker hit further trouble when the automobile industry fell on hard times a few years ago. Now at the feet of financial disaster and no  … Read more

Just weeks after American Airlines announced its plans to file for Chapter 11 bankruptcy, the company has already broken a promise to employees. Once remaining steadfast in their assurance that neither consumers nor employees would likely be affected by the airline bankruptcy, the company announced pension cuts and mandatory furloughs for many employees. The Ugly  … Read more

Despite high demand for green roof products, like solar panels, several big name solar companies have faced tremendous financial pressure in recent months. Solyndra filed for bankruptcy back in August in hopes of protecting its assets and reorganizing its debt troubles. Now the company finds themselves under federal investigation of issues drawn to light as  … Read more

After American Airlines filed for Chapter 11 earlier this month, the residents of North Texas brace for an impending ripple effect. Despite reassurance from American officials that consumers and employees will see little impact from the filing, economists are not so confident. Employing over 20,000 locals, American Airlines is a big player in the local  … Read more

After leaving Dallas bankruptcy court earlier this year with a new owner, the Dallas Stars hockey team have begun their new season with a plan. Having struggled after several years of losing chances at a championship, fan attendance has dropped significantly.  Tom Gaglardi, has launched his first action as the teams new owner, cutting ticket  … Read more

Just one short week after the announcement of the American Airlines bankruptcy filing, three top executives have resigned.  These resignations follow the sudden retirement of the previous CEO, Gerald Arpey. Arpey, who was not in agreement with the decision to file for bankruptcy, was replaced by American’s president, Thomas Horton.  Having now lost four of  … Read more

All of the news surrounding the topic of the American Airlines bankruptcy has many people, who could be potentially impacted, left wondering what is in store. While efforts have been made to ensure employees and company stock holders that their jobs and investments are safe from harm, little attention has been given to consumers. The  … Read more

For years the United States Postal Service has struggled to keep afloat in a dying market. With online bill pay services and unbeatable prices from big name shipping providers, the USPS hasn’t been able to remain profitable. After considering filing for bankruptcy earlier this year, the USPS has developed an alternative plan that will hopefully  … Read more