Determining whether or not to file for bankruptcy can be a difficult and drawn out decision. There are several factors that someone should consider when making this decision, and experienced professionals should be on hand to assist in the process. The two main...
Personal Bankruptcy
2012 sees significant decline in bankruptcy filings
The most recent statistics from United States Bankruptcy Courts indicate that overall non-business bankruptcy filings are on the decline for the year 2012 when compared to the same period from the year before.In the fiscal year ending on September 30, both Chapter 7...
Michael Vick paying off creditors with NFL earnings
Michael Vick, a quarterback in the NFL, filed for bankruptcy protection in 2008, and has recently started paying off his numerous creditors the approximate $20 million that they are owed.Vick spent two years in prison for the part he played in a dog fighting ring....
Former MLB player files for Chapter 7 bankruptcy protection
Jose Canseco, a former MLB player for multiple teams including the Oakland Athletics, has filed for Chapter 7 bankruptcy protection.Canseco, who currently plays for the Worcester Tornadoes, an independent league team, earned two World Series rings during his time in...
Bankruptcy case dismissed for Nadya Suleman
Nadya Suleman, as previously reported, sought the help of Chapter 7 bankruptcy last month. She filed for the bankruptcy protection but was ordered by the court to produce about a dozen extra documents pertaining to her finances.She was given until Monday, May 14, to...
Personal bankruptcies continue to fall in October
In October, personal bankruptcies decreased for the fourth consecutive month. Experts suspect the decline in consumer bankruptcy filings is related to a decrease in the use of credit.Executive director of the ABI Samuel Gerdano stated, “The declining filings...
Personal bankruptcies down nationwide
Last month, a total of 108,517 personal bankruptcies were filed nationwide. September’s personal bankruptcy filings were 4 percent lower than a month before and 17 percent lower than a year before.Furthermore, the number of personal bankruptcies filed in the U.S. from...
Birmingham-Hoover foreclosure rate increasing
A recent report from CoreLogic says that the foreclosure rate in the Birmingham-Hoover metro area is increasing.In June, the foreclosures in the area increased by 1.67 percent from May. In addition, June foreclosures in Birmingham-Hoover were 1.43 percent higher...
Foreclosures down by 29 percent in August
Real estate research firm RealtyTrac recently reported that foreclosure filings experienced a 29 percent year-over-year decrease in Alabama in August.Last month, a total of 1,358 foreclosures were filed in the state. 711 of the foreclosure filings were notice of...
Percentage of seniors filing for bankruptcy on the rise
Several recent bankruptcy studies have concluded that the percentage of seniors seeking bankruptcy protection is on the rise.For instance, one study says that in 2006, seniors accounted for 7.8 percent of the nation’s total bankruptcy filings. In 2009, the...