If you are married and need to file bankruptcy protection, does your spouse have to be included? The quick answer is no you do not both have to file bankruptcy together if you are married. You can file individually without bringing your spouse into the equation. Having said that, bankruptcy is a complicated beast and it is crucial to consult with a bankruptcy attorney such as Law Offices of John T. Orcutt to discuss your specific situation and options. We can help you understand the pros and cons of each option and guide you towards the best decision for your financial future ..read more

Steward Health Care filed for Chapter 11 bankruptcy due to a combination of significant financial challenges, which included mounting debt, declining revenues, and the financial strain from the COVID-19 pandemic. Members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have their health care and retirement benefits protected ..read more

"Nothing has been able to stop American consumers. At first they splashed covid-19 savings on home-exercise bicycles; now they are more likely to plump for beachside holidays. Predictions made by bank bosses last summer that households would be squeezed by inflation have been confounded. Instead, their outlays have powered American gdp ever higher, at a pace beyond the country’s g7 peers ..read more

A new study by researchers who partnered with RIP Medical Debt, a non-profit that buys and forgives medical debt, found “disappointing” results when people’s bills were purchased and forgiven, with little impact on people’s credit scores and willingness to go to the doctor ..read more

..read more

Bankruptcy filings have been on the rise in 2024 compared to previous years. Corporate bankruptcies are exceedingly common. 18,926 U.S. businesses filed for bankruptcy in 2023 alone. And while many bankruptcies precede a business’s permanent closure, some companies successfully emerge from the process after restructuring and are able to continue doing business  (such as  Apple, General Motors, and Marvel Entertainment etc) are just a few high-profile examples.. There have been several notable business bankruptcies in 2024 so far: Retail ..read more

Rite Aid has experienced financial difficulties in the past and did file for Chapter 11 bankruptcy protection in 2023. Rite Aid Corp. is working to complete a deal with lenders to exit bankruptcy. But even with a rescue deal in hand, the ailing pharmacy chain is poised to to be significantly smaller. Since filing Chapter 11 in October, Rite Aid has said it will close more than 520 locations, according to a Bloomberg News analysis of court records. The closures, which could increase, represent nearly a quarter of the 2,111 stores Rite Aid operated when it entered bankruptcy ..read more

The average credit card interest rate in the United States is currently quite high. Here's a breakdown of why it's complex and where to find the most reliable numbers ..read more

When you file for bankruptcy, whether Chapter 7 or Chapter 13, it can have implications for any outstanding debts you have, including a reverse mortgage. Here's how it may affect a reverse mortgage ..read more

The Biden administration announced a rule Tuesday to cap all credit card late fees at $8, or about one-quarter of the average late fee of $32. It's the latest effort from the White House to attack what it calls "junk fees," or excessive fees that can push up the end price of products. Why the Change? The CFPB acted to address what it saw as excessive late fees. Prior to the change, some fees could reach as high as $41. The goal is to make fees more reasonable and proportionate to the actual cost of late payments for credit card companies ..read more