One thing about the U.S. economy is that it is interdependent. We all tend to feel a financial pinch at the same time. When things are going well, consumers feel the freedom to spend their disposable income recreationally or buy entertainment products. Today, consumers have less disposable income than at any time in recent memory,...

The former CEO of the cryptocurrency exchange FTX was blamed for allowing Bahamian investors to withdraw $100 million in assets even as everyone else’s accounts were locked. Investors woke up to find their accounts locked amid concerns of a run on the exchange. The exchange filed for bankruptcy protection, and the accounts have been locked ever since....

Institutions accused of abuse in personal injury lawsuits are finding a safe haven in bankruptcy courts. While bankruptcy and personal injury lawsuits often go hand-in-hand, it is frustrating for plaintiffs to negotiate a settlement through a bankruptcy trustee that often must make accommodations to the financial status of a debtor accused of terrible crimes.  Before...

Bankruptcy may not be the most exciting branch of the law, but it has the virtue of being complicated by rules that sometimes appear to contradict one another. When two laws appear to contradict one another, it is known as an antinomy. Now, the SCOTUS will hear a bankruptcy case related to the discharge of a debt...

One successful businessman invested $1.5 million in Bitcoin on the popular site Celsius in exchange for $350,000 in cash. Once the $350,000 loan was repaid, Celsius would return the $1.5 million in Bitcoin. By then, Celsius could have earned a profit on the accrued value of Bitcoin. Instead, Celsius raided their company coffers, failed to keep...

Alex Jones, the popular radio host who deals entirely in conspiracy theories, lost several high-profile personal injury lawsuits and is now facing judgments exceeding $1 billion. To be sure, this puts Jones in a bad position. He has too many liabilities to file under Chapter 13, and he makes too much money to file under Chapter...

A woman who gave birth to a baby is charged $1,600 for an epidural she figures should be covered by her insurance. The reason? She “chose” to go to an out-of-network provider. Hence, her insurance would not cover the expenses.  In 2017, California passed a bill preventing insurance companies from charging for out-of-network services. In...

Some people think of bankruptcy as a personal failure, but the truth is that a healthy economy needs a bankruptcy system. The bankruptcy code does not just provide relief to debtors; it also provides relief to creditors.  Imagine if multiple creditors were all filing claims against the same individual. Whichever creditor got there first would...

Bifurcated bankruptcy agreements are the latest trend in bankruptcy. I bet you did not know that bankruptcy had trends. But just like fashion, bankruptcy has trends. It is just that no one knows about them until they need to file for bankruptcy. The latest trend is called a bifurcated fee arrangement. Typically, debtors need at...

Unless you are a bankruptcy attorney, there would be no reason for you to know this. But traditionally, bankruptcy attorneys accept payment before filing bankruptcy as opposed to after. Why? The bill we present you with might be discharged as part of your bankruptcy. However, in some cases, a petitioner for bankruptcy might be in...