Millions of Americans are expected to file for bankruptcy this year due to expensive medical bills, a new data analysis reports.According to the data gathered by NerdWallet Health, skyrocketing health expenses cause many people to file bankruptcy. In fact, Vice...
Birmingham Bankruptcy
Bills seek to limit payday and title loan interest rates
Laws to regulate high rates of short-term loans and title loans were recently presented in an effort to keep people from being trapped into paying off debts with high interests.Rep. Patricia Todd, D-Birmingham, who introduced the bills, said a cap of 36 percent will...
Bankruptcy exit plan to be filed by Jefferson County in June
A recent report stated that Jefferson County plans to file its plan for addressing its debts and how it will exit bankruptcy on June 1. County officials said on March 12 that they hope to present a plan that receives the approval of sewer creditors, but were also...
Jefferson County Makes First Attempt to Emerge From Bankruptcy
Jefferson County has recently made plans in order to make an attempt to exit from Chapter 9 bankruptcy. The County Commissioners have said that the vote could happen as soon as next week, but some creditors have already stated that it will be challenged in...
Foreclosures on the decline, discounts disappearing
New data from Zillow shows that discounts many home buyers are expecting on foreclosed homes are starting to disappear as foreclosures decline across the country. The Washington Post reports that as the economy slowly improves, fewer homeowners are defaulting on their...
Alabama Foreclosures Drop in August, Increase in September
The rate of foreclosures in the Birmingham area declined in the month of August, according to a mortgage researcher. The data shows that in August, the rate of foreclosures was 1.62 percent. This percentage was down slightly from August 2011 when the rate of...
Jefferson County Can No Longer Afford to Keep Hospital Open
Nearly a year ago, Jefferson County filed a $4.23 million bankruptcy case and now, they have claimed that they can no longer afford to keep a Birmingham hospital open. The hospital has 319 beds and offers in-patient services, but with only a few dozen patients a day,...
Birmingham produce company to pay creditors in bankruptcy ruling
A judge has issued a ruling in Birmingham-based Adams Produce’s Chapter 11 bankruptcy filing. Monday’s ruling states that Adams must pay its creditors a total exceeding $8 million.Adams Produce filed for bankruptcy in April of this year, prompting many of the...
Foreclosure activity in Alabama falling
Across the state of Alabama, foreclosure activity has been declining. In the month of May, the number of foreclosures that were filed fell by 20.6 percent from the filings that occurred in April.According to a mortgage researcher, one in every 1,518 houses were...
Foreclosures across Alabama decline in 1Q
A research firm specializing in foreclosures has reported that foreclosures in the state of Alabama declined during the first quarter of 2012. The foreclosures declined by 18.6 percent in Alabama, as compared to the first quarter in 2011, and totaled...