1 wrong move can bring ‘zombie’ debt back from the grave By Sean Pyles You’re being hounded. You thought that debt was gone for good, but collectors are closing in and demanding payment. You may be facing zombie debt. A zombie debt might be a dormant bill resurrected by debt collectors — or it could Read more about 1 wrong move can bring ‘zombie’ debt back from the grave[…]
Financially strapped companies’ ranks are swelling. A Moody’s Investors Service tally of the least-creditworthy companies rose by 10 to 274 this month, pushing it nearer to April 2009’s record 291. The list comprises companies rated at least six notches into junk territory with a negative outlook–which suggests a further downgrade could come soon. The uptrend Read more about Number of Troubled Companies Nears 2009 Peak[…]
Fitness might be the new status symbol and athleisure clothing might be all the rage, but for one storied brand, the health and wellness boom hasn’t translated into a bottom-line boon. In fact, quite the opposite: citing a challenging retail environment, Sports Authority announced Wednesday that it has filed for bankruptcy protection and will be closing Read more about Sports Authority Files For Bankruptcy, Plans To Shutter 140 Stores[…]
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A few days ago, the U.S. Supreme Court declined to review the Tetzlaff case. Many will interpret this decision as a nod to the status quo’s high difficulty in discharging student loans in bankruptcy. While I am disappointed with the high court’s decision not to decide, I found that all may not be lost. As Read more about The Tetzlaff Aftermath: Discharging Student Loans In Bankruptcy Might Be Easier Than We Thought[…]
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil industry. Three major investment banks — Morgan Stanley MS, -4.18% , Goldman Sachs Group Inc. GS, -2.12% and Citigroup Inc. C, -1.81% — now expect Read more about Plunging prices could force a third of U.S. oil firms into bankruptcy[…]