Real estate research firm RealtyTrac recently reported that foreclosure filings experienced a 29 percent year-over-year decrease in Alabama in August.Last month, a total of 1,358 foreclosures were filed in the state. 711 of the foreclosure filings were notice of...
Alabama Bankruptcy
Alabama Aircraft Industries submits reorganization plan
This week, Alabama Aircraft Industries Inc. submitted a reorganization plan that proposes selling the majority of their assets to Kaiser Group Holding out of Virginia for $500,000.Chief Executive of the military aircraft modification company operating out of...
Bankruptcy filings decrease in year ending June 2011
Recent figures from the Administrative Office of the U.S. Courts reveal that total bankruptcies filed in the U.S. in the year ending June 2011 decreased by 2.7 percent.In addition, the figures detail the decreases in each individual chapter of bankruptcy....
Jefferson County has 80% chance of filing for bankruptcy
The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the...
Personal bankruptcies decrease in 2011
709,303 personal bankruptcies were filed between January 1, 2011 and June 30, 2011. This is 7.9 percent fewer than the number of personal bankruptcies filed in the same time period in 2010.According to the American Bankruptcy Institute, 2010 had the highest...
More government employees eligible to choose chapter 7
Many governmental entities across the country, at both the state and local level, are struggling to balance their budgets after the economic crisis. In an attempt to balance budgets, many government workers are experiencing salary deductions, higher...
Fewer mortgage delinquencies in Birmingham
In March, the mortgage delinquency rate in Birmingham saw a decrease from the rate in March 2010. According to national research firm CoreLogic, 6.93 percent of mortgage loans in Birmingham were 90 days or more overdue in March. A year before, 7.22 percent...
Reports show drop in number of Alabama foreclosures
A report by RealtyTrac recently found that the rate of home foreclosures in Alabama is dropping steadily.The reports stated that the rate of foreclosures for the month of April dropped 24 percent from April of last year. Only 1,840 properties in Alabama...
Alabama county’s finances affected by recent tornado
The tornado that recently wreaked havoc in Alabama has also been predicted to have a negative impact on the state’s finances. Jefferson County, in particular, will be affected by the storms because the county was already facing the biggest municipal bankruptcy that...
Alabama Company Bids Gun Manufacturer Out of Debt
Manroy, an Alabama company that makes weapons and supplies, recently paid $4.95 million to a Tennessee gun-making company in exchange for all of the bankrupt company’s assets.The exchange took place at an auction which the Tennessee company, Sabre Defence, had...