Bankruptcy filings across Alabama surged in the first three months of 2009, underscoring the severity of an economic downturn that has seen surging layoffs, business closings and foreclosures. Between January and March, 8,415 personal bankruptcies were...
A Better Answer Than 8 Million Foreclosures
Homeowners stood up and cheered as President Barack Obama stepped into the legislative ring on their behalf recently, wrestling with banking and credit union lobbies to pass a so-called...
Bankruptcy filings rise to 6,000 a day as job losses take toll
Consumer and commercial bankruptcy filings are on pace to reach a stunning 1.5 million this year, according to a report from Automated Access to Court Electronic Records. While well below the record 2 million filings in 2005, the number of filings is up...
U.S. bankruptcy filings up 37% last month
U.S. consumer bankruptcy filings soared 37 percent in May compared with the same period last year, according to figures released Tuesday by the American Bankruptcy Institute. The figures, using data compiled by the National Bankruptcy Research Center,...
May, 2009
Isle bankruptcies soar
Statewide bankruptcy filings continued to mount in May as the highest unemployment rate in three decades and triple-digit foreclosure increases kept Hawaii residents scrambling for financial relief. The number of filings this month increased 60.4 percent...
April, 2009
Lawyers Challenge Limits of 2005 Bankruptcy Act
As the economy tanks and bankruptcy filings soar, bankruptcy lawyers challenging a 2005 law's restrictions on how they can assist debtors contend that there is an urgent need for guidance from the nation's highest court. For the past four years, consumer...
Regional bankruptcy filings rise by 30 percent
Lynchburg-area bankruptcy filings rose 30 percent for the first quarter of the year compared to a year ago, according to an analysis of records from the U.S. Bankruptcy Court for the Western District of Virginia. Those numbers could go much higher as...
More Pennsylvania residents succumb to bankruptcy
With the state's unemployment rate at 7.8 percent and about 500,000 workers without a job, it's no surprise bankruptcies in Western Pennsylvania have jumped by 9 percent so far this year and in 2008, experts say. "People tend to hang on as long as they...
Bankruptcy filings surge in Nevada
Personal and business bankruptcy filings in Nevada surged in the fourth quarter, with the national recession compounding problems associated with declining home prices. Numbers compiled by the Administrative Office of the U.S. Courts show Nevada...
Bankruptcy filings reach 10-year high
These days, it is one of the busiest offices in downtown's swank Emerald Plaza office tower. And one of the saddest. Day after day, and hour after hour, a relentless stream of debtors files through Room 630 to attend a first meeting with their creditors.
Bankruptcy keeps attorney on the run
The adage ‘ask a busy person and you’ll get it done’ holds a special meaning for Hurst bankruptcy attorney Carey Ebert. As a partner at Ebert Law Offices LP in Hurst, a judge for teen court in Colleyville as well as a member of the Colleyville...
Valley bankruptcies hit 41-month high
Job pressures helped push Valley bankruptcies to a 41- month high in March, with the big increase made possible by income-tax refunds. "People now can afford to pay their bankruptcy attorneys because they got their tax refunds back," said Chris...
Downturn Pushes More Toward Bankruptcy
The ailing economy continues to pull more Americans into bankruptcy court, where the number of troubled consumers filing for protection soared in March to its highest level since October 2005, when a new law made it more arduous and expensive to file....
Bankruptcy filings up 55 percent on Long Island
Bankruptcy filings continued to climb on Long Island - growing nearly 55 percent in February over a year ago. A total of 715 residents and businesses filed for bankruptcy in Nassau and Suffolk, according to court records. "I've seen things getting...
March, 2009
More senior citizens forced to declare bankruptcy
Jose Abrahantes has been working for about half a century -- in construction, landscaping, even as a janitor cleaning offices on the night shift. He figured he would eventually enjoy a relaxing retirement. But at 66, with medical bills piling up after...
Bankruptcy filings on the rise in the area
Homeowners buried under mountains of debt are flocking to area bankruptcy attorneys, mirroring a nationwide trend that has caught the attention of President Barack Obama and members of Congress. Job losses, adjustable rate mortgages, and maxed-out credit...
'Perfect storm' puts all types in financial peril
The current financial crisis is all-inclusive; our path to prosperity or even simple financial stability seemingly obliterated. With every furlough, layoff or stock market drop, Americans of all ages and backgrounds are seeing their incomes dwindle,...
Real estate bust has them filing into bankruptcy hearings
He works at Lowe's, making $12.60 an hour selling appliances. She's a retiree who gets $1,015 a month in Social Security. They live in Clearwater in a house mortgaged for $346,000, now worth about half that. On this St. Patrick's Day, garbed in green for...
Hard Lessons in Helping Homeowners
For many months, because of federal inaction, the states acted alone to combat the rising tide of foreclosures across our nation. The plan recently announced by President Obama is a welcome effort that will help keep families in their homes. As critical...
Judge is witness to broken dreams
In Judge Geraldine Mund's courtroom in Woodland Hills one morning last week, a gray-haired man dressed informally in a blue fleece vest and black T-shirt strode to the podium to state his side in a bankruptcy case....
February, 2009
Guess What Got Lost in the Loan Pool?
WE are all learning, to our deep distress, how the perpetual pursuit of profits drove so many of the bad decisions that financial institutions made during the mortgage mania. But while investors tally the losses that were generated by loose lending so...
House of Cards: The Faces Behind Foreclosures
Jeff Wagoner is a bankruptcy attorney in Kansas City, Mo., with the brush-cut hair and clear eyes of a former Navy aviator. From his office in a tower on a hill, he can see miles of prairie and a world of hurt. Wagoner's clients (and he has plenty these...
Bankruptcy reform could help hard-up homeowners
Debt-ridden homeowners, driven to the brink of foreclosure by rising mortgage payments, mounting bills and inadequate income, increasingly are turning to bankruptcy court in hopes of holding on to their houses. Short of persuading lenders to give them...
Chattanooga: Regional bankruptcies climb 25%
Philip and Kimberly Viles are still employed. But after forced job changes and shortened workweeks, the Ooltewah couple now earn only a fraction of what they did a year ago. As their bills piled up and creditors kept calling, the Vileses last month...
New faces seen in bankruptcy court
Five years ago, Ruth DiCicco's Dover flooring business made a million dollars. Last week, she was in bankruptcy court. There were 309 bankruptcy filings in New Hampshire last month, on track to keep pace with the 3,875 filings in 2008. And like DiCicco,...
Bankruptcy Boom Is Big Business For Lawyers
As the U.S. economy sours, a growing number of people are being forced into bankruptcy. More than 1 million people filed for bankruptcy last year. This trend is also creating a work boom in part of the legal profession — consumer bankruptcy law....
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