The Rate of Bankruptcy is Rising Among Older Americans

September 25, 2018  |   Posted by :   |   bankruptcy,retirement   |   0 Comments

Retirement. That’s everyone’s goal after having worked for over 40 years. But for many the elderly, this may be just a dream. Financial problems plague the older generation, from rising interest rates, to exorbitant medical costs, to crushing credit card debt along with the rising cost. On top of this, many people find their savings […]

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Everything You Need to Know about the Means Test

August 08, 2018  |   Posted by :   |   bankruptcy   |   0 Comments

In 2005, Congress decided to revise the bankruptcy code, which hadn’t been changed much during the previous 25 years. Why did they choose to revise? Congress and bankruptcy courts had become increasingly concerned that too many people were filing for bankruptcy – and their cases approved – who could actually afford to pay their debts. […]

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Losing Profit Leads to Store Closings for Sears

July 05, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

Remember the days when everyone would shop at Sears for back-to-school clothes after receiving the annual catalog in the mail? Well, the once-dominating department store is closing stores across the U.S. This is due to the company’s inability to reach sales goals, which ultimately means they’re losing profits. They currently can’t afford to keep stores […]

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Andy Warhol’s Interview Magazine – The End of an Era

June 01, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

In 1969, Interview magazine was founded. It is a publication that details arts and culture, and which was started by Andy Warhol. On Monday, May 21, 2018, employees of the magazine company publicly tweeted that the publication is filing for bankruptcy. This comes nearly 50 years after the first issue was released. Let’s take a […]

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Bankruptcy in the News – Gibson Brands, Inc. Files for Bankruptcy

May 09, 2018  |   Posted by :   |   bankruptcy,bankruptcy in business   |   0 Comments

For any musicians reading this, you may be devastated to learn that the guitar company, Gibson, recently filed for bankruptcy. But don’t worry, all may not be lost; the leading guitar company plans to stay in business by focusing solely on manufacturing and selling guitars and other instruments, while gutting its consumer electronics line of […]

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