Subprime Lenders Facing Bankruptcy

subprime lending, cheap car loans

 

Subprime Lenders Facing Bankruptcy

Subprime lenders are beginning to feel the pinch economically, and that includes Summit Financial Corp., Spring Tree Lending, and Pelican Auto Finance.

******

 

Summit Financial Corp. filed for bankruptcy last month. My experience has always been that a large portion of my bankruptcy clients have auto loans with Summit Financial which is based out of Florida. Bloomberg had previously reported that Summit has been misreporting its losses and Spring Tree Lending which is also in bankruptcy, was accused of fraud by its investors.

What the Future Holds for Subprime Lenders

Experts believe unlike subprime lending in the mortgage industry, because the losses are smaller and the market overall is smaller, the Great Recession between 2007-2009 is unlike to repeat itself, but only time will tell if that holds true.

Alexander Hernandez, Esq.

Alexander is a bankruptcy attorney practicing in Jacksonville/Duval County, and Miami, Florida. He is also the author of numerous books. His Author Page is available below.

best bankruptcy attorney, bankruptcy law office, abogado de bancarrota Twitter handle – @mcatty_alex.

bankruptcy attorneys near me, bankruptcy lawyer. cheap chapter 7 bankruptcy lawyerMedical Bills and Bankruptcies- It’s Not What You Think

‘m getting close to twenty years practicing law, which includes bankruptcy law, and I always would advise people that medical bills are more than half the reason why bankruptcies are filed, however, a new suggests otherwise.

 

bankruptcy attorney, bankruptcy attorney near me, bankruptcy attorneys in floridaNew Law in Florida for Bankruptcy and Foreclosures

Governer Rick Scott signed into law S.B. 220 which allows documents pertaining to bankruptcy to be used as evidence in foreclosure cases  in state court.

 

bankruptcy attorney in jacksonville, abogado de bancarrota en jacksonville, bankruptcy attorney near me, abogado de bancarrota near mePaul Manafort’s Bankruptcy Fraud

With the pending investigation of Special Counsel Robert Mueller regarding Trump’s campaign and Russia’s actions in the 2016 Presidential election, it seems that Manafort did not disclose a creditor as required per bankruptcy law.

 

bankruptcy attorney near me, abogado de bancarrota, cheap bankruptcy lawyerIHeart Filing for Bankruptcy

IHeartMedia, Inc. is likely to file for bankruptcy within the next couple of weeks since it has been unable to make their debt payments.

 

bankruptcy attorney near me, abogado de bancarrotaSexual Abuse Claims Leads to Bankruptcy

Three Catholic institutions in Minnesota have filed for bankruptcy due to sexual abuse claims and now there is a fourth: the Catholic Diocese of St. Cloud.

 

bankruptcy attorney, abogado de bancarrota, bankruptcy lawyer near me, cheap bankruptcy attorneysHarvey Weinstein’s Company Filing for Bankruptcy

Multiple media outlets are reporting that the Weinstein Company will be filing for bankruptcy after being unable to obtain financing.

 

%d bloggers like this: