2011 Articles

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14 Percent Increase In Bankruptcy Filings

A Huge Increase In Non-Business Filings Over 2009 A report released by the federal government showed an alarming increase in total bankruptcies for the fiscal year 2010, by nearly 14%. The statistics ...
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Blockbuster Saved From Liquidation By Chapter 7

Trouble Arises For Rental Service Thanks To New Technology A New York Bankruptcy Court Judge ruled in favor of a plan that will keep Blockbuster afloat, saving the rental chain from being liquidated ...
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Factbook: Chapter 7 And Chapter 13

Decide Which Kind Of Bankruptcy Claim Is Right For You Making the decision to declare bankruptcy is far from an easy one. The individual debtor will need to carefully weigh his or her financial ...
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Judge To Rule On Blockbuster Bankruptcy

Creditors Seek To Convert Case To Chapter 7 Filing If movie studios have their way, popular rental chain Blockbuster Inc. could be liquidated to pay the ailing company’s debts, reports the Wall Street ...
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When Credit Collection Turns to Harassment: Know Your Rights

If you are on a few credit collection lists and are receiving calls from companies to whom you owe money, you are not alone. With the recent changes in the economy, people losing their jobs and prices ...
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Why Are so Many Californians Filing for Bankruptcy?

The economic climate has changed and many Californians are simply trying to survive and keep up with their most basic expenses. According to a statement from the legislative director of the National ...
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State Mortgage Relief Program Hopes To Begin Soon

Federal "Hardest Hit" Funds Allocated to Florida Legislators hope to make the $1 billion foreclosure prevention program available to homeowners next month, after a series of changes have ...
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Suffolk OTB Awaiting Bankruptcy Approval

March 16 th – Suffolk OTB is awaiting Chapter 9 bankruptcy approval from the Suffolk County Legislature today. Suffolk Off-Track Betting Corp. filed for Chapter 9 bankruptcy last February after state ...
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Long Island Home Décor Co. Buys Competitor in Bankruptcy Auction

Kravet Inc., a Long Island, NY home décor company, founded in 1918 purchases major competitor Brunschwig & Fils for $9.665 million. Brunschwig & Fils filed for Chapter 11 bankruptcy this last ...
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How to Put an End to Wage Garnishments

New York State is required to abide by federal laws that were established in order to prevent creditors from taking too much money from a debtor’s disposable income. Federal law limits the amount that ...
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Borders among Popular Retailers to File Bankruptcy

Technology has certainly changed the way the world views retail stores. First it was Blockbuster, and now Borders has followed suit by filing Chapter 11 bankruptcy as of last February. No longer able ...
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Avoid the Possibility of Repossession

When one thinks of the term repossession, they normally associate it with cars, although other things can certainly be repossessed. When a person gets a loan for a car, "self help" agreements are not ...
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Chapter 11 Bankruptcy May Be Able to Save Your Business

You may be one of those individuals who believe in hard work and fair business dealings. You take pride in providing a valuable product or service to the community, but business is declining and bills ...
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The Means Test: What Does it Mean?

If you are considering filing a Chapter 7 bankruptcy, there is a test that you must pass first called the " means test." This was designed to prevent individuals who actually are high income earners ...
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Common Misunderstandings About Bankruptcy

Bankruptcy is not something that takes place on any kind of a regular basis for people and there are many common misunderstandings floating around on the subject. First of all, many people feel like ...
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Trustee Rules Former Mayor Eligible For Bankruptcy

Federal Trustee Changes Mind After Further Review When the former mayor’s case was first presented before the trustee in February, he had gone on record as saying there was presumed abuse. Now, ...
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Which Kind Of Bankruptcy Is Right For Me?

The Facts You Need To Know The right to file for bankruptcy protection is a vital one. Any person may file a bankruptcy claim without the help of a lawyer, though this is far from ideal due to the ...
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How Can You Avoid Foreclosure Scams?

Many people have gotten caught up in the unfortunate web of not being able to pay their mortgage and their house is now worth less than when they originally bought it, forcing them to face ...
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Defaulting on Home Loans is Increasing in Popularity

Many homeowners are experiencing the ill effects of what is now commonly referred to as "toxic loans." During the housing boom, many lenders offering subprime mortgages did many an excited homeowner a ...
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Mortgage Modification Could Save Your Home

Losing a home can be an extremely upsetting circumstance but there are alternatives that can be exercised and one of those is a mortgage modification. Even if you have bad credit and are already in ...
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