Chapter bankruptcy rates reached a new high this past month. Reuter’s reported that March marked the highest amount of personal and commercial bankruptcies since 2005.
According to data compiled by AACER, Automated Access to Court Electronic Records, there were 158,141 bankruptcies petitions filed this past month. This increased 20 percent from March 2009.
So far, this was [...]
Student loans provide many Americans the opportunity to achieve their dreams. But these debts add up leaving many wondering how to pay their debt after college.
Francisco Espinosa was one of the many who fell into this category. In 1988, he took out four student loans for a grand total of $13,250. A small amount compared [...]
The plastics company Gloucester Engineering is facing increasing pressure from creditors to enter Chapter 7 bankruptcy, according to the Gloucester Daily Times.
Using claims that the company owes them money, these creditors are pressing the struggling manufacturer, as Gloucester Engineering searches for a major investor to help them keep their creditors at bay.
According to [...]
A former basketball star is experiencing his own brand of March Madness.
Derrick Coleman, the former No. 1 overall draft pick in the NBA, is filing Chapter 7 bankruptcy in Detroit, Michigan, his current home.
Coleman ended his 15-year professional basketball career in Detroit with the Pistons. He then settled there and became well known as a [...]
The fine line between advising clients in bankruptcy cases and abusing bankruptcy law has been disputed between judges and lawyers alike for the past couple of years.
Many attorneys feel they have the right to advise their clients how they see fit. They believe they are guaranteed this right – this freedom of speech – under [...]
The economic recession in the U.S. has led to the worst financial environment in the last fifty years. And while the impact is felt across the board, there’s one area that seems to defy expectation: personal bankruptcies.
As companies fail and unemployment rises, the rate of personal bankruptcies has only just begun to rise to levels [...]
A firefighting equipment maker who brought in almost $1.6 million in income just two years ago is now filing Chapter 7 bankruptcy.
Placer Fire specialized in building “wildland firefighting and light rescue vehicles” such as crew carrier trucks according to Firefighting News. At their height, the California company had contracts with fire departments in Sacramento, North [...]
Lenny Dykstra, whose nickname on the baseball filed was “Nails,” is displaying some of the grit and determination in his personal financial affairs that made him a star pro baseball player.
Dykstra filed for Chapter 11 bankruptcy in July of 2009, but now he has told the media that he wants the judge in the case [...]
With the decline in newspaper sales and increased usage of internet it’s no surprise that many major paper companies are exploring their chapter bankruptcy options.
Take White Birch Paper Co., a Canadian company based out of Quebec, recently decided to file for bankruptcy in both the US and Canada. The company is is the second largest [...]
As their residents struggle to find work and earn money to put back into the communities, cities themselves face financial struggles.
To keep debts from rising cities may take other measures such as increase taxes or cut back on funding for specific programs. But there are other options for cities in severe cases including filing a [...]