709,303 personal bankruptcies were filed between January 1, 2011 and June 30, 2011. This is 7.9 percent fewer than the number of personal bankruptcies filed in the same time period in 2010.According to the American Bankruptcy Institute, 2010 had the highest...
Personal Bankruptcy
More government employees eligible to choose chapter 7
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...
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....
Alabama county’s finances affected by recent tornado
The tornado that recently wreaked havoc in Alabama has also been predicted to have a negative impact on the state’s finances. Jefferson County, in particular, will be affected by the storms because the county was already facing the biggest municipal bankruptcy that...
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 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....