Governor Bentley of Alabama has created a program that would help to prevent future home foreclosures by assisting homeowners with their mortgages. The federally funded program will aid families for up to 12 months and will be short-term, one-time...
Alabama Bankruptcy
Alabama Ranks Tenth in Personal Debt
According to CareOne Services, the state of Alabama ranks number ten in the growing epidemic of personal and consumer debt.The citizens of Alabama had an average debt of $16,591, a number that included personal and credit card debts. The study did not include any debt...
Alabama counties top list of bankruptcy filings
Two Alabama counties ranked first and second on a list of U.S. counties with the highest number of bankruptcy filings in December 2010.Baldwin County held the highest bankruptcy rate of all U.S. counties at more than 7 times the national average for filings. Greene...
Economic downfall is at lowest rate in 18-months
The economic stress of the nation is at an 18-month low due to the gains in employment which have helped offset the country’s high foreclosure rates.In the 28 states and nearly 3,001 counties that were studied, stress fell 56 percent. A demand overseas for U.S....
Alabama unemployment rate drops
Alabama’s unemployment rate dropped to 9.2 percent in August, from 9.7 percent in July. This is the first time that Alabama’s rate has fallen below the national average — 9.6 percent — in more than a year.The Birmingham-Hoover metro area’s rate fell by a smaller...
Alabama’s bankruptcy rate fifth highest in the nation
According to the American Bankruptcy Institute, Alabama’s bankruptcy rate is the fifth highest in the nation.A researcher said that Alabama has 7.42 bankruptcy filing per 1,000 residents. The national average is at 5.05 and Nevada had the highest rate of all the 50...
Nexity’s Holding Company Files for Bankruptcy
Bloomberg reports that Nexity Financial Corp. has filed for bankruptcy. According to Bloomberg, “The Birmingham, Alabama-based company listed both assets and debt of as much as $50 million today in Chapter 11 documents in U.S. Bankruptcy Court in Wilmington,...
Properties Abandoned by Owners, Now Lenders
The Wall Street Journal reports that, across the country, home values are falling well below the price of the mortgage. Many of these owners are abandoning the properties. According to The Wall Street Journal, “Now, in the case of one defunct mortgage lender, the...
Bankrupt Funeral Home Sold
Al.com reports that “bankrupt Bessemer Funeral Home will be sold to a new company that has promised to honor all burial contracts, according to testimony at a court hearing Wednesday.”The company’s old owner, Elizabeth Anne Modder Wallace, formed a new company to buy...
Credit card delinquency decreases nationwide
A recent TransUnion report shows that the number of people who were late in making their credit card payments in the first quarter this year has decreased as compared to the previous quarter.Credit card delinquency is highest in Nevada, at 1.79 percent, with Florida...