While Chapter 13 can help you keep certain assets and regain control of your finances, the process involves trade-offs. SimpleImages/Getty Images Borrowers with high-rate debt have been navigating a difficult financial environment in recent years. Credit card interest rates remain near record highs, household balances have continued to climb, credit card debt is at a … Read more
If you’re planning to file for bankruptcy soon, you may want to know how the bankruptcy timing rules work. Techa Tungateja/Getty Images Elevated living costs, growing credit card balances and lingering financial strain from the past few years have pushed many borrowers to reconsider their debt strategies right now. While there are numerous approaches to … Read more
NEW YORK — The parent company of Saks Fifth Avenue and Neiman Marcus is closing more department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring. Saks Global Inc. said Friday it will close 12 more Saks Fifth Avenue stores and three more Neiman Marcus stores. … Read more
Bankruptcy is a legal process with long-term financial consequences, and it isn’t the right solution for every borrower. BlackSalmon/Getty Images Credit card debt in America has become something of a slow-moving crisis. The total amount of credit card debt nationwide recently surged past $1.28 trillion, for example, and with average interest rates hovering above 21%, … Read more