Last month, a total of 108,517 personal bankruptcies were filed nationwide. September’s personal bankruptcy filings were 4 percent lower than a month before and 17 percent lower than a year before.Furthermore, the number of personal bankruptcies filed in the U.S. from...
Bankruptcy Filing
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...
Percentage of seniors filing for bankruptcy on the rise
Several recent bankruptcy studies have concluded that the percentage of seniors seeking bankruptcy protection is on the rise.For instance, one study says that in 2006, seniors accounted for 7.8 percent of the nation’s total bankruptcy filings. In 2009, the...
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....
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...
Personal bankruptcy filings down in May
According to the American Bankruptcy Institute, the number of people in the United States that filed for bankruptcy last month was 16 percent lower than the number of people who filed for bankruptcy in May 2010.Last month, a total of 114,803 people filed for chapter 7...
Options for managing debt
Alabama residents have several options for managing their debts. By choosing one of these options, one is able to take control of their current financial situation and move forward towards a debt-free life.One alternative to bankruptcy is debt negotiation....
Study finds African-Americans more likely to file Chapter 13 bankruptcy
A recent study that was released by the Woodstock Institute in Chicago found that black people are much more likely to file for Chapter 13 bankruptcy than white people, who are more likely to file for Chapter 7 bankruptcy.The study found that almost half of the black...
Birmingham Aircraft Company Files for Chapter 11
Alabama Aircraft Industries, Inc., a company that is based out of Birmingham, has filed chapter 11 bankruptcy in order to reorganize their finances.The company began facing financial trouble when they lost $5.8 million in revenue. The company also had...