International financial firm Lehman Brothers Holdings, Inc., has revised the details of its bankruptcy plan. The new plan is expected to allow for a faster and more complete financial recovery.Lehman Brothers declared bankruptcy in September 2008 under Chapter 11, the...
Bankruptcy Filing
Bankruptcy Filings Up 9 Percent in 2010
According to the American Bankruptcy Institute, there was a 9 percent increase in personal bankruptcy filings between 2009 and 2010. An estimated 1.53 million households filed for bankruptcy in 2010.While the economy has started to show hints of improvement, many...
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....
U.S. bankruptcies at five year high
The Administrative Office of the U.S. Courts this week released a report that shows an increase of 9 percent in bankruptcy filings between April and June this year as compared to last. There were 422,061 bankruptcy filings this year, from 388,148 in the prior...
A report released this month estimates over 11 million homeowners in the US have underwater mortgage
A report released this month estimates over 11 million homeowners in the United States have underwater mortgages.The new report, released by the data aggregator CoreLogic, says the number of homeowners who owe more on their mortgage than their homes are worth declined...
Feds release latest Beige Book reports
The U.S. Federal Reserve’s latest Beige Book survey, released Wednesday, suggests that the economies of most states have expanded “modestly” in the past six weeks. The information in the Beige Book is anecdotal rather than statistical, and is collected from a sample...
Nationwide bankruptcy filings reach highest in years
According to government data released last Wednesday, bankruptcy filings between April and June of 2010 reached the highest levels seen in the last five years. The number of filings represents an increase of 11 percent from the same time period in 2009.422,061 filings...
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...
Bankruptcy Filing Rates for Consumers Reach High Point
According to Emmeline Zhao of The Wall Street Journal, “Consumer bankruptcy filings reached their highest point since 2005 in the first half of this year.” In the first sixth months of 2010, there was a 14 percent increase in filings compared to the same time period...
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...