Law Offices of John T. Orcutt Bankruptcy Blog Feed

Congratulations to Attorney Ryan Srnik

Law Office Blogger — Wed, 23 Sep 2026 19:16:00 +0000

The Law Offices of John T. Orcutt proudly congratulates Ryan Srnik on his formal appointment to the U.S. Bankruptcy Court for the Eastern District of North Carolina’s Local Rules Committee.

fFied chicken chain files Chapter 11 bankruptcy

Law Office Blogger — Mon, 21 Sep 2026 17:08:22 +0000

Yardbird Group filed for Chapter 11 because its restaurant business has accumulated more debt and financial obligations than it can comfortably manage under its normal operations. In simple terms, the company is using the bankruptcy court to gain breathing room, keep the business running while it reorganizes, and look for a buyer or new financing rather than simply shutting down immediately. The filing covers Yardbird Group and 10 related entities, and it was made voluntarily in Delaware on September 21, 2026.

Durham Based Energy Company Files for ch. 11 Bankruptcy

Law Office Blogger — Tue, 08 Sep 2026 17:32:14 +0000

American Efficient, a Durham-based energy company, filed for Chapter 11 bankruptcy because it faces a government order totaling more than $1.1 billion—far more than the company says it can afford to pay. The Federal Energy Regulatory Commission (FERC) concluded that the company improperly collected money in electricity markets by claiming credit for energy savings it did not truly create or control. American Efficient denies that it did anything wrong and is continuing to fight the government’s findings in court.

Update on Historical Raleigh College, St. Augustine University Bankruptcy Proceedings

Law Office Blogger — Wed, 02 Sep 2026 17:19:05 +0000

Saint Augustine’s University in Raleigh is in Chapter 11 bankruptcy, which is a court-supervised process meant to give an organization time to reorganize its finances rather than immediately shut down. In simple terms, the school has far more debt and financial obligations than it can currently handle, so it is working with a bankruptcy judge, creditors, and advisers to decide whether it can become financially stable. The university has not formally closed, but its ability to operate as a school is extremely limited while the case continues.

Debt Settlement Trap

Law Office Blogger — Tue, 25 Aug 2026 15:17:34 +0000

Debt settlement companies often promise that they can reduce what you owe for less than the full balance. They may tell you to stop paying your creditors and instead send money to the settlement company or into a special account each month. While this can sound like a simple path out of debt, it can leave people worse off if settlements do not happen quickly or at all. The consumer may lose money to fees, face growing balances, and deal with more aggressive collection activity.

What's the difference between Ch. 13 and Ch. 7 Bankruptcy?

Law Office Blogger — Tue, 18 Aug 2026 20:04:06 +0000

Chapter 7 and Chapter 13 are two common types of personal bankruptcy, but they work in very different ways. Chapter 7 is generally a faster process that can erase many unsecured debts, such as credit-card balances and medical bills, for people with limited income and few assets they could lose. Chapter 13 is a court approved repayment plan that lets a person keep more property while paying back some or all debts over time. The right option depends on household income, assets, debt type, and the person’s financial goals.

How is Stagflation Contributing to a Rise in Bankruptcy Filings in North Carolina

Law Office Blogger — Tue, 11 Aug 2026 23:48:37 +0000

Stagflation can contribute to more bankruptcy filings in North Carolina because it combines rising prices with slower economic growth and increased unemployment. In this environment, the cost of essentials rises while jobs, work hours, wages, and small-business revenue may weaken. Households and businesses that already carry substantial debt can find that their monthly obligations no longer fit within their available income.

North Carolina 2nd Largest State inYear-Over-Year Foreclosures

Law Office Blogger — Wed, 05 Aug 2026 21:24:27 +0000

In 2026, the U.S. foreclosure market showed a clear year-over-year rise, with the sharpest increases clustered in a mix of Western, Southern, and Midwestern states. Using ATTOM’s mid-year report on lender repossessions (REOs), the top 10 states with the largest annual increases were Colorado, Florida, Minnesota, Alabama, Texas, California, Arizona, Virginia, North Carolina, and Pennsylvania.

The Department of 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.