Posts by On Behalf of Giddens & Gatton Law, P.C.

Overall, consumer bankruptcy filings have remained relatively steady across America. For one demographic, however, the rate of bankruptcies has more than tripled since 1991: retirees over the age of 65. More than 12 percent of filers are now age 65 and older, up from 2.1 percent just a generation ago. Why are retirees seeking bankruptcy…

Thousands of workers laid off when toy retailer Toys R Us filed for Chapter 11 bankruptcy might soon be receiving severance payments. The multimillion-dollar severance package, funded by two of the three equity firms that purchased the company in a 2005 leveraged buyout, could provide relief for workers struggling since the company closed all 850…

The CEO of Sears, a well-known department store chain with a long history in New Mexico and across the country, recently revealed a plan to hopefully help the company avoid a bankruptcy filing. The plan involves leveraging assets including real estate and inventory, and taking advantage of CEO Eddie Lampert’s hedge fund, ESL Investments, to…

A recent court decision may mean that much-needed debt relief will finally be on the way for students defrauded by unscrupulous for-profit colleges and universities. The decision, handed down by a federal judge earlier this month, finds that the U.S. Department of Education – and its leader, Secretary Betsy DeVos – acted in an “arbitrary…

Medical debt – and medical debt collection – are both billion-dollar industries in America. Our healthcare system, such as it is, means that millions and millions of us have insurance coverage, yet costs of medications, treatments and physician visits still put countless of Americans in debt annually. Past studies have shown that medical expenses are…

Financial data provider Black Knight reports that Americans are sitting on nearly $6 billion in home equity value. Though those assets are obviously impressive, more people are making poor choices when it comes to how – and if – to spend their home equity. Ideally, home equity loans and lines of credit should only be…

The U.S. Trustee’s office announced this week that they have major concerns about the viability of the Chapter 11 bankruptcy plan for Toys R Us (and subsidiary Geoffrey Holdings LLC) due to the fact that the current arrangement fails to adequately compensate vendors and other creditors. The bankruptcy watchdog office filed an official objection due…