The number of homeowners who are undergoing the foreclosure process or had their homes repossessed by banks dropped last month, a foreclosure listing firm said on July 11.Housing recovery in the U.S. continues to strengthen due to steady jobs, low interest rates,...
Greenway Bankruptcy Law
Medical bills: a huge factor for personal bankruptcy
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...
Settlement checks to be received by 15k Alabama homeowners
A total of $21.8 million will be awarded to Alabama residents as a result of a national foreclosure settlement, Attorney General Luther Strange said on June 6.Around 15,000 eligible Alabama homeowners will receive settlement checks from the national settlement’s...
Bills to limit payday loans in Alabama stall
Laws attempting to change payday and title loans in Alabama stalled recently in the Alabama Legislature.The bills were being reviewed in the House Committee, but failed after industry leaders argued that the bills would substantially affect their business, even...
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...
U.S. regulators considering payday loan changes
To lessen the high interest rates of short-term loans that put consumers in a debt cycle, Federal regulators said recently they are going to impose gaps between loans.New guidelines will be issued to banks today by Federal Deposit Insurance Corp. and the office of the...
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...
Alabama Leaders Gain Momentum in Bankruptcy Deal
Alabama leaders have reported that they are gaining momentum toward striking a deal between Jefferson County and Wall Street creditors in regards to the largest municipal bankruptcy in the country.Negotiators with the county met with county’s sewer system creditors in...
Prichard City Officials Seek More Time in Bankruptcy Protection
Prichard City Council officials are asking for more time in regards to a bankruptcy protection lawsuit that was filed against the city. Officials with the city stated that they needed more time in order to get familiar with all “legal matters” in the case.This council...
Bankruptcies down in fiscal 2011
The American Bankruptcy Institute, a bankruptcy filing research organization, recently reported that bankruptcy filings dropped in fiscal 2011.A total of 1.47 million bankruptcies were filed in the U.S. through September. According to the ABI, this fiscal year’s...