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...
Bankruptcy Filing
Nationwide foreclosures down
According to a recent report by RealtyTrac Inc., foreclosure filings have finally begun to level off nationwide.Filings are down 2 percent overall nationwide, with certain states like New York seeing drops as large as 20 percent. April is the first month of the year...
General contractor’s bankruptcy story continues
General contractor Brian M. Marshall, founder of companies including Fireline Restoration Inc., Initech Restoration, Marshall Investments LLC, Marshall Aviation LLC, and numerous others, has requested that courts dismiss the latest of his bankruptcies or convert them...
Surge in Consumer Bankruptcy Filings
Despite the recent economic upturn, consumer bankruptcy filings have not slowed. In February, bankruptcy filings were up 14% compared to the previous year. The number of bankruptcy filings in February increased by a total of 9% from January’s, indicating a...
Can student loans be discharged in a bankruptcy?
During a bankruptcy filing, filers typically cannot discharge their student loans. However, there are two exceptions to this general rule. First, a student loan may be discharged if it is not guaranteed by the government or is not associated with any program that is...
What documents do individuals need for a bankruptcy filing?
When individuals consider filing for bankruptcy, their first step is often to visit a lawyer. Before this meeting, individuals should collect and prepare a number of documents.These documents include a list of creditors, outstanding loans, any secured debt, and any...
U.S. bankruptcy filings increased in 2009
Bankruptcy filings across the country increased by 31.9% last year. According to a report released by the Administrative Office of the U.S. Courts, bankruptcy filings totaled 1.4 million in 2009.The bankruptcy filings included 60,837 business-related filings, which...
Can filing for bankruptcy get you out of paying for child support and alimony?
Some individuals who file for bankruptcy are behind on their alimony and child support payments, along with their debts. While bankruptcy can get rid of some or all of their debts, it cannot erase alimony and child support payments.This means that filers cannot get...
Are you required to go to court in a bankruptcy proceedings?
When individuals file for bankruptcy, they do not necessarily go to multiple court hearings. However, they are often required to attend one hearing, which is commonly known as a 341 meetings.At this meeting, bankruptcy filers will meet with their bankruptcy trustees...
Can you employer fire you because you filed for bankruptcy?
When individuals file for bankruptcy, they often have many concerns about their finances, families, and jobs. Some individuals believe that if their employers find out about their financial situation, they may fire them.However, according to U.S.C. Sec 525, employers...