Bankruptcy News

On Jan. 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will ban the inclusion of medical debt on credit reports and prohibit lenders from using medical information in their approval decisions. The CFPB estimates the rule change will…

Commercial Chapter 11 bankruptcy filings rose 20% in March compared to the same month last year, increasing to 733 from 611, according to data from Epiq AACER, a leading provider of U.S. bankruptcy statistics. Total commercial bankruptcy filings also rose…

DETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations. Nikola said Wednesday that…

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven…

Banks are getting ready to sell billions of dollars in debt borrowed by Elon Musk’s X, bringing Wall Street a step closer to exiting the nerve-racking deal that financed the social-media company’s buyout. Morgan Stanley bankers have reached out to investors ahead…

Advocate Health, one of America’s largest hospital chains, says it is working hard to confront one of the biggest problems in US healthcare today – promoting itself as “a leader in the effort to solve the nation’s medical debt crisis”. The non-profit…

Corporate bankruptcies rose sharply in 2024, driven by high interest rates and lingering pandemic-era debt. As many as 686 companies filed for bankruptcy as of Dec. 23, the most for any year since 2010, according to S&P Global Market Intelligence.…

New YorkCNN —  This year was brutal for a number of well-known companies and their bottom lines. As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. Other brands fell victim…

Collectively, Americans now owe a record $1.17 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances rose by $24 billion in the third quarter of 2024 and are…

For some shoppers, the upcoming holiday season may lead to significant credit card debt. Meanwhile, some people are still paying off debt from last year’s gift buying. In fact, 28% of shoppers who used credit cards have not paid off the presents they…