A huge improvement in the U.S. housing market was observed in 2013 after the number of homes entering foreclosure not only continued to decrease, but also hit a six year low, according to real estate information firm RealtyTrac.A decrease of 31 percent was observed in...
Alabama Bankruptcy
Study shows southerners owe more in auto loans
A recent analysis showed that most people who owe a lot on their auto loans live in the southern cities of America, a USA TODAY report showed on Saturday, November 16.According to a recent analysis by Manilla.com, Shreveport, New Orleans, and Houston were on the top...
Governor Bentley announces new measure to protect against payday loans
On September 18, Alabama Governor Robert Bentley signed a new consumer protection measure that will help people from taking on exorbitant debts as a result of payday loans.As the Alabama Deferred Presentment Services Act does not allow payday lenders to give people...
Homes undergoing foreclosure and repossession in U.S. decrease
The number of homeowners who are undergoing the foreclosure process or had their homes repossessed by banks dropped last month, a foreclosure listing firm said on July 11.Housing recovery in the U.S. continues to strengthen due to steady jobs, low interest rates,...
Medical bills: a huge factor for personal bankruptcy
Millions of Americans are expected to file for bankruptcy this year due to expensive medical bills, a new data analysis reports.According to the data gathered by NerdWallet Health, skyrocketing health expenses cause many people to file bankruptcy. In fact, Vice...
Bills seek to limit payday and title loan interest rates
Laws to regulate high rates of short-term loans and title loans were recently presented in an effort to keep people from being trapped into paying off debts with high interests.Rep. Patricia Todd, D-Birmingham, who introduced the bills, said a cap of 36 percent will...
Bankruptcy exit plan to be filed by Jefferson County in June
A recent report stated that Jefferson County plans to file its plan for addressing its debts and how it will exit bankruptcy on June 1. County officials said on March 12 that they hope to present a plan that receives the approval of sewer creditors, but were also...
Prichard City Officials Seek More Time in Bankruptcy Protection
Prichard City Council officials are asking for more time in regards to a bankruptcy protection lawsuit that was filed against the city. Officials with the city stated that they needed more time in order to get familiar with all “legal matters” in the case.This council...
Jefferson County Makes First Attempt to Emerge From Bankruptcy
Jefferson County has recently made plans in order to make an attempt to exit from Chapter 9 bankruptcy. The County Commissioners have said that the vote could happen as soon as next week, but some creditors have already stated that it will be challenged in...
Foreclosures on the decline, discounts disappearing
New data from Zillow shows that discounts many home buyers are expecting on foreclosed homes are starting to disappear as foreclosures decline across the country. The Washington Post reports that as the economy slowly improves, fewer homeowners are defaulting on their...