Manroy, an Alabama company that makes weapons and supplies, recently paid $4.95 million to a Tennessee gun-making company in exchange for all of the bankrupt company’s assets.The exchange took place at an auction which the Tennessee company, Sabre Defence, had...
Greenway Bankruptcy Law
Jefferson County May File for Bankruptcy
Alabama’s Jefferson County is in serious financial trouble after several alleged bribes with investors and building a new sewage system that may sink the county altogether.The county loaned money by several Wall Street banks, such as J.P. Morgan, who served as...
Students Facing Debt Due to College Loans
The number of pending student loan cases in Birmingham has significantly increased in recent years. Sixty-two lawsuits have been filed against graduated students for their unpaid loans, which is four times the amount that was filed in 2003.Along with rising tuition...
Homeowners Receive Assistance to Reduce Foreclosures
Governor Bentley of Alabama has created a program that would help to prevent future home foreclosures by assisting homeowners with their mortgages. The federally funded program will aid families for up to 12 months and will be short-term, one-time...
Alabama Ranks Tenth in Personal Debt
According to CareOne Services, the state of Alabama ranks number ten in the growing epidemic of personal and consumer debt.The citizens of Alabama had an average debt of $16,591, a number that included personal and credit card debts. The study did not include any debt...
Alabama counties top list of bankruptcy filings
Two Alabama counties ranked first and second on a list of U.S. counties with the highest number of bankruptcy filings in December 2010.Baldwin County held the highest bankruptcy rate of all U.S. counties at more than 7 times the national average for filings. Greene...
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....
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...
Alabama unemployment rate drops
Alabama’s unemployment rate dropped to 9.2 percent in August, from 9.7 percent in July. This is the first time that Alabama’s rate has fallen below the national average — 9.6 percent — in more than a year.The Birmingham-Hoover metro area’s rate fell by a smaller...