January 26, 2022
Navient, the largest of student loan providers, has recently settled a lawsuit. Part of this lawsuit settlement provides $26.3 million dollars of student loan forgiveness for Indiana residents. In addition, a $4.3 million fund will allow restitution payments to a much larger group of Indiana student loan borrowers. What did Navient do Wrong? Navient has […]
September 15, 2021
What are the Changes? The bill called the “Fresh Start Through Bankruptcy Act of 2021” is now being discussed in Congress. It proposes a change to the bankruptcy law that will now allow the discharge of student loans after 10 years. The Act also has the stated goal of holding educational institutions more accountable. Congress […]
May 18, 2020
During the COVID-19 pandemic, rent and mortgage payments immediately began to go into default. Job loss and other interruptions pushed default rates to new levels. These housing defaults will play out in a way that may cause record amounts of bankruptcy within the next year. Rent and Mortgage Payments Will Not Be Forgiven A growing […]
May 12, 2020
COVID-19 PREDICTED TO CAUSE NEW WAVE OF INDIANAPOLIS BANKRUPTCY COVID-19 is predicted to cause a new wave of Indianapolis bankruptcy cases. Consumer debt loads were already reaching record highs. Indianapolis, now facing COVID-19 job interruptions, will likely see large defaults in debt repayment. A new wave of bankruptcy will likely follow. CONSUMER DEBT RECORDS MEET […]
February 19, 2020
Major changes are coming to how credit scores will be calculated. These credit score changes will likely make it more difficult for many people to obtain new credit. This, in turn, will likely decrease the total amount of bankruptcy filings to some degree. People who historically have turned to bankruptcy may have a lower credit […]
December 27, 2019
Celadon Bankruptcy: Worst-Case Chapter 11 Scenario The Celadon bankruptcy was close to a worst-case scenario for Chapter 11. Things can always be worse of course, but this situation has most of the general “worst-case” aspects that a company can face in Chapter 11. Chapter 11 Celadon Worst Case Scenario: No Reorganization Chapter 11’s most appealing […]
December 26, 2019
Celadon is an Indianapolis-based company. The primary operations were in Indianapolis. The employees were hit hardest in Indianapolis. Even their address on the bankruptcy petition is in Indianapolis. Why then was Celadon’s Chapter 11 bankruptcy filing in Delaware? Celadon is a “Delaware” Corporation Companies frequently incorporate in Delaware to take advantage of Delaware’s generous law […]
December 18, 2019
On Sunday, December 8, 2019, the well-known Indianapolis-based trucking company, Celadon, filed for Chapter 11 bankruptcy. To make matters worse, the goal of this Chapter 11 case was not to reorganize the company. Instead, it was to allow Celadon to cease its operations immediately. All Indianapolis-based operations completely grounded to a halt. Some drivers were […]
October 9, 2019
Online romantic scams have been forcing many unsuspecting, kind-hearted people into bankruptcy. It is a real tragedy as these situations sweep across the nation in record numbers. Many of these people – frequently women and sometimes men approaching retirement age – are having their entire life savings cleaned out. When their life savings is stolen, […]
July 15, 2019
Indiana bankruptcy exemptions are quite low compared to other states. The recent housing value boom has left the residence exemption for bankruptcy in Indiana more lacking than ever. Indiana, like a minority of other states, has a very limited residence protection amount in bankruptcy. Coming in at a meager $19,300 per bankruptcy filer, this amount […]
