Law Offices of John T. Orcutt Bankruptcy Blog Feed

The Department oif Education is ending the SAVE Plan.

Law Office Blogger — Tue, 28 Jul 2026 14:19:34 +0000

The latest major U.S. student loan “settlement” is the court-related action around the SAVE repayment plan (The SAVE saving on a Valuable Education) plan

was an income-driven repayment option for federal student loans designed to lower monthly bills. This action effectively pushed the Education Department to stop using SAVE for new borrowers and move existing borrowers into other repayment options. In plain English, it is not a one-time cash settlement for borrowers; it is a legal and policy change that affects how federal student loans are repaid.

The Rise in Property Taxes and Insurance is Causing Some North Carolinains to Fall Behind on their Mortgages

Law Office Blogger — Thu, 23 Jul 2026 16:26:25 +0000

The rapid rise in property taxes and homeowners insurance across North Carolina is quietly driving up monthly mortgage payments, making it harder for many homeowners to stay current and pushing some into delinquency. As escrow costs swell—especially in metros like Raleigh—families who budgeted for a “fixed” mortgage are discovering that their total payment is anything but fixed.

Japan Corporate Bankruptcies Hit 12-Year High

Law Office Blogger — Mon, 13 Jul 2026 20:18:22 +0000

Japan’s bankruptcy surge to an all-time high is mainly the result of persistent inflation, higher labor costs, and a weak yen squeezing small and mid-sized businesses. In 2025, bankruptcies topped 10,000 for the first time in 12 years, with labor shortages and high prices driving many firms over the edge.

Foreclosures in the South East On the Rise but Not Due to Failing to Pay Principle and Interest

Law Office Blogger — Tue, 23 Jun 2026 15:02:44 +0000

Many people assume that foreclosures happen because homeowners cannot afford their mortgage loan payments, but in much of the Southeast, the real issue is different. The biggest problem is not the principal and interest portion of the loan, which often stays the same, but the rising costs included in escrow. Escrow covers things like homeowners insurance and property taxes, and these costs have been increasing quickly. As a result, monthly payments that were once stable and predictable have become much higher, putting financial pressure on homeowners.

Popeyes Franchisee with Over 130 Locations Files Bankruptcy

Law Office Blogger — Tue, 09 Jun 2026 16:18:20 +0000

A major Popeyes Louisiana Kitchen franchisee operating more than 130 locations in the Southeast filed for Chapter 11 bankruptcy because its business model could no longer support a heavy debt load in the face of rising costs and weakening traffic. The company, Sailormen Inc., which runs stores primarily in Florida and Georgia, reported roughly $130 million in liabilities and had already closed around 20 locations as part of its restructuring efforts.

Americans Are Falling Behind on their $1.25 Trillon Dollar Credit Card Bill.

Anonymous — Fri, 29 May 2026 17:00:11 +0000

Americans are falling behind on their $1.25 trillion credit‑card bill because the basic math of everyday life no longer works for many households: prices have stayed high, wages have not fully kept up, and credit cards now charge some of the highest interest rates in modern history, turning short‑term borrowing into long‑term, snowballing debt. As a result, more cardholders are carrying balances month to month instead of paying in full, and delinquency rates have climbed back to levels last seen around the time of the global financial crisis.

Is North Carolina at risk of ‘water bankruptcy?

Law Office Blogger — Tue, 21 Apr 2026 13:53:08 +0000

North Carolina faces a growing risk of “water bankruptcy” a condition where water demand outpaces reliable supply because of rapid population growth, uneven water distribution, aging infrastructure, and increasing climate pressures. While the state is not currently out of water, the combination of these factors means that, without careful planning and management, some regions could face serious shortages in the future.

Edward C. Boltz Inducted as Fellow of the American College of Bankruptcy – Class 37

Law Office Blogger — Tue, 31 Mar 2026 19:21:19 +0000

Durham, North Carolina — Edward C. Boltz, managing partner of the Law Offices of John T. Orcutt, P.C., has been inducted as a Fellow in the American College of Bankruptcy as a member of its 37th Class. The induction ceremony was held on March 20, 2026, in San Antonio, Texas, as part of the College’s Annual Meeting. (americancollegeofbankruptcy.com)

Rising Bankruptcies Among Younger Adults

Law Office Blogger — Tue, 24 Mar 2026 16:49:15 +0000

Two consumer bankruptcy attorneys report a sharp rise in Gen Z and young millennial bankruptcy filings, especially among 25- to 35-year-olds. They attribute the trend to higher living costs and flat wages. They also point to easy access to credit cards, buy now, pay later loans, and a surge in online gambling debt.

“You Know It When You See It”: The Ethics of Mortgage Fee Dual Tracking in Chapter 13

Law Office Blogger — Mon, 09 Mar 2026 17:11:52 +0000