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qz.com
7 well-known companies that filed for bankruptcy this year
From Claire’s to Rite Aid, big-name brands are seeking Chapter 11 protection as U.S. corporate bankruptcies hit their highest level since 2010.
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Here’s what most people don’t realize about debt consolidation programs: When you agree to pay, say, $500 a month, that money isn’t going straight to your creditors. Instead, it sits in an escrow or reserve account while the company tries to negotiate with your lenders. Only after they reach a deal do they start making payments on your behalf. The problem? While they’re negotiating, your accounts stay delinquent, late fees pile up, and your credit can take a serious hit. And if the negotiations
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