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...
Greenway Bankruptcy Law
Fewer mortgage delinquencies in Birmingham
In March, the mortgage delinquency rate in Birmingham saw a decrease from the rate in March 2010. According to national research firm CoreLogic, 6.93 percent of mortgage loans in Birmingham were 90 days or more overdue in March. A year before, 7.22 percent...
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....
Reports show drop in number of Alabama foreclosures
A report by RealtyTrac recently found that the rate of home foreclosures in Alabama is dropping steadily.The reports stated that the rate of foreclosures for the month of April dropped 24 percent from April of last year. Only 1,840 properties in Alabama...
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 bank may file for Chapter 7 bankruptcy
Superior Bancorp, a Birmingham-based bank corporation, is contemplating bankruptcy after one of its main holdings was auctioned off by federal regulators. The subsidiary, Superior Bank, consisted of 73 banks, which were all sold to pay off creditors.According to...
Dr. Phil’s Designer Retracts Bankruptcy Filing
The former interior designer for Dr. Phil recently retracted a Chapter 13 bankruptcy filing that she had filed in November 2010. The designer claims that she was forced to do so because of a financially-draining legal battle that she is currently involved...
Alabama Residents Have Low Credit Scores
A recent survey showed that, while the credit card debt of Alabama families has gotten lower in 2011, credit scores are at an all-time low. Alabama had an average credit score of 642 in January, which was the fourth lowest credit score in the U.S.These statistics...
House Ends Foreclosure Defense Programs
Foreclosure defense programs that were put into action by the Obama administration in 2007 are now being abandoned by many in the House and Senate who say that the programs cause homeowners more harm than good.Votes in the House proved to be partisan, as Republicans...