Latest on the Bankruptcy Blog

If you remember, the ITT Technical Institute was a for-profit technical college that declared bankruptcy in 2016, closing campuses in Texas and across the rest of the country. Recently, nearly 750,000 students who took out student loans to attend ITT Technical Institute, received an early Christmas present in the last week of November 2018. After  … Read more

Farmers hold a special place in the heart of the US economy. However, this year has been especially tough on farmers. The Federal Reserve recently announced that farm bankruptcies in Minnesota and the Upper Mid-West are on the rise. Meanwhile, Chapter 12 bankruptcy protection cases in Texas dropped for farmers. Changes in Chapter 12 Bankruptcies  … Read more

No one is eager to file bankruptcy; the process has long-term implications for your financial life and ability to borrow money. Bankruptcy should be considered after all reasonable efforts to get control of your debt has been exhausted. A personal bankruptcy attorney can help you get back on your feet and get a fresh start.  … Read more

On November 19th the last remaining credit union to service Sears employees will be closing business and merging with PrimeSource Credit Union. 70 Year Old Credit Union Sears Spokane Employees Federal Credit Union is over 70 years old and serves about 528 members with approximately $3.5 million in assets. Over 27 credit unions have served  … Read more

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 signed into law by President George W. Bush, stipulates that many types of retirement plans, including IRAs, are exempt assets in bankruptcy proceedings and they may not be used to satisfy creditor demands. Inflation Adjustment As of April 1, 2016, the inflation-adjusted IRA exemption is  … Read more

On November 6, Taco Bueno Restaurants filed for Chapter 11 relief with a prepackaged plan. Taco Bueno, founded in Abilene Texas in 1967 has closed 19 locations in 4 states. One hundred sixty-nine restaurants remain open in Texas, Oklahoma, Kansas, Louisiana, Missouri, and Arkansas. Dallas based Sun Holdings won a silent auction for Taco Bueno’s  … Read more

In national news, a man in South Carolina has won the 2nd largest lottery jackpot in history. While it may be hard to believe, even a $1.5 billion lottery winning has the potential to be squandered. A higher number of lottery winners go bankrupt after winning than do not. Percentage of Lottery Winners That Go  … Read more

It doesn’t take long for debt to get out of hand. Dallas Bankruptcy Attorneys hear from young people from time to time who have acquired a significant amount of unsecured debt very early on in their credit history. Sometimes  stigmas surrounding a Texas Bankruptcy can often prevent young individuals from filing for the debt relief  … Read more

It was just 2012 when Sears Holdings, which bought Kmart in 2005. Before that, in the 50s and 60s, Sears, Roebuck & Company was one of the largest international department store chains in the world. For the past several years, financial analyst and corporate bankruptcy specialists in Texas have warned that Sears may be the  … Read more

In big news, the Federal Trade Commission announced a sweeping round of student loan debt relief scam settlements this week as it continues its crusade to crack down on predatory lending activities. The FTC claimed that several student loan debt organizations misrepresented themselves in order to obtain upfront fees while falsely claiming to enroll them  … Read more