RadioShack Sells Last Thing Of Value It Owns: $50 Million Worth Of Property

RadioShack Sells Last Thing Of Value It Owns: $50 Million Worth Of Property

In its bankruptcy auction, RadioShack has sold its store leases, the merchandise in most of its stores, and even key intellectual property assets like its customer mailing lists and “” Now the company has found buyers for its last multimillion-dollar assets: property in Texas and regional facilities in Maryland and in California have been sold, taking in about $50 million that will go to the company’s creditors. [More]

(Scott Cimakosky)

Abusive Lending Practices Can Lead To Negative Long-Term Consequences For Borrowers, Communities

Every year, more than 12 million Americans spend $17 billion on payday loans, despite the fact research has shown these costly lines of credit often leave borrowers worse off. Yet abusive lending practices are not relegated to borrowers in need of a couple hundred dollars to stay afloat until their next paycheck; there are mortgages, car loans, and other traditional lines of credit that can leave the borrower in a bind. Even if you never find yourself on the wrong end of a predatory loan, these products can still be a drain on your entire community. [More]


Consumers Can’t Void Second Mortgage In Bankruptcy, SCOTUS Rules

Consumers taking out a second mortgage will now have to consider the fact that if they encounter financial difficulties and file for bankruptcy, they won’t be able to strip off the additional loan obligation. [More]

(Taber Andrew Bain)

JPMorgan Chase, Bank Of America Agree To Wipe Debt Cleared By Bankruptcy From Credit Reports

Two of the country’s largest banks are finally getting around to removing the debt consumers eliminated during bankruptcy proceedings from their credit reports, a move that puts Bank of America and JPMorgan Chase in line with federal law. [More]

Super Bowl Ticket Broker Files For Bankruptcy After Not Being Able To Provide Paid-For Tickets

Super Bowl Ticket Broker Files For Bankruptcy After Not Being Able To Provide Paid-For Tickets

A lot of people who purchased legitimate Super Bowl tickets months in advance through ticket brokers later found themselves watching the game on TV after those brokers claimed they were unable to get the tickets that were promised. One New York-based broker who is being sued by the state of Washington recently filed for bankruptcy protection as dozens of customers look to get refunds on their tickets and other related travel expenses. [More]

Corinthian Colleges Inc. Files For Bankruptcy

Corinthian Colleges Inc. Files For Bankruptcy

A week after embattled for-profit college chain Corinthian Colleges Inc. closed its remaining Everest University, Heald College and WyoTech campuses, the company filed for bankruptcy, essentially closing the book on the company’s long downward spiral.  [More]

GM Won’t Face Ignition Defect Lawsuits, Thanks To 2009 Bankruptcy

GM Won’t Face Ignition Defect Lawsuits, Thanks To 2009 Bankruptcy

The same process that allowed a bankrupt General Motors to work its way back (with the help of several billion dollars from taxpayers) to being a viable business is, six years later, helping to shield the company from potentially billions of dollars in damages from class action fraud lawsuits involving the long-ignored ignition defect that claimed the lives of at least 84 people. [More]

Your Personal Data Could Be For Sale In RadioShack Bankruptcy Auction

Your Personal Data Could Be For Sale In RadioShack Bankruptcy Auction

Have you handed your name, address, e-mail address, or phone number over to RadioShack as part of a purchase or, inexplicably, when you returned an item that you bought with cash? As the bankruptcy auction of the smoldering remains of The Shack continues into its second day, we’ve learned that one of the assets for sale is RadioShack’s customer list, which includes more than 65 million mailing addresses and more than 13 million e-mail addresses. Update: The bankruptcy auction’s privacy ombudsman says that customer information isn’t for sale. Yet. [More]

(Nicholas Eckhart)

Today’s Bankruptcy Auction Will Decide RadioShack’s Fate

On Monday, Radio Shack will forever cease to be the retailer it once was, and will turn into something different as the result of a bankruptcy auction. Exactly what will emerge from the ashes depends on the bidders bellying up to bid on the chain’s remains. [More]


You Can’t Discharge Your Student Loans In Bankruptcy Because Of Panicked 1970s Legislation

Although bankruptcy should only be viewed as the last option for consumers drowning in a sea of debt, even this final-straw course of action won’t help Americans with getting out from under hefty student loans — but it wasn’t always this way. [More]


TiVo Gets Approval From Bankruptcy Court Judge To Buy Some Aereo Assets

If Aereo wasn’t dead already, the announcement from TiVo that it’s successfully snagged the former streaming service’s trademarks and customer lists will certainly send any hopes that the company could resurrect itself six feet into the ground. After an assets auction last month where companies picked over Aereo’s bones, TiVo says a U.S. Bankruptcy Court judge has approved its purchase of those assets. [More]

(Tim Schreier)

Senators Introduce Legislation To Make Private Student Loans Dischargeable In Bankruptcy

Since 2005, student borrowers have been unable to discharge their private student loans through the process of bankruptcy. But that could soon change after a group of 12 senators introduced a bill aimed at addressing the current student debt crisis by restoring the bankruptcy code to hold private student loans in the same regard as other private unsecured debts. [More]

Caché To Liquidate, Close All Remaining Stores

Caché To Liquidate, Close All Remaining Stores

If you have a gift card sitting around for women’s clothing retailer Caché, it’s time to dig it out of the depths of your purse and use it. The company wasn’t able to find a buyer to keep some version of its business alive into the future, and going-out-of-business sales began over the weekend. [More]

Chase Hit With $50 Million Settlement Over Robosigned Mortgage Documents

Chase Hit With $50 Million Settlement Over Robosigned Mortgage Documents

The nation’s biggest banks have already been hit with billions of dollars in settlements over robosigning — the illegal process of signing and filing important mortgage documents without reviewing them for accuracy — so what’s a few million more? Today, the Justice Dept. announced a settlement with JPMorgan Chase that will require the bank to pay more than $50 million in cash, mortgage credits, and loan forgiveness, to over 25,000 currently and recently bankrupt homeowners. [More]

Here a Lifestyle Lift commercial claims to provide facelifts in just an hour.

One-Hour Facelift Company Lifestyle Lift Abruptly Closes, Considering Bankruptcy

Cosmetic surgery chain Lifestyle Lift promises clients it can remove wrinkles, frown lines and sagging skin in just a matter of an hour. But if you were planning to stop by one of the company’s centers on Monday you were likely met with locked doors and few answers. [More]

(Phillip Pessar)

Use Your RadioShack And Deb Gift Cards Right Now

Do you have gift cards lingering in your wallet from RadioShack or Deb? If so, put down the device you’re reading this post on and head over to the store right now to spend that card. That’s only slightly hyperbolic, but card holders will need to get to RadioShack before March 5 and to Deb before March 8 to cash in their cards before they’re worthless. [More]


TiVo Picks At The Scraps Of Aereo’s Remains

It’s been about eight months since a divided U.S. Supreme Court thrust a dagger through the gut of streaming video startup Aereo, and three months since the company filed for bankruptcy protection. And any hope that the company might be sold or resurrected has vanished with news that its name and patents have been sold off like parts of an old used car. [More]

(Phillip Pessar)

RadioShack Selling Name Separately From Stores: Bids Start At $20 Million

In a bankruptcy auction, creditors want to extract as much money as they can from the company’s remaining assets that have any value. Recognizing that “Radio Shack” is a brand that people at least recognize, the company’s lawyers announced today in court that its name and intellectual property will sell separately from the store leases. [More]