Blog sponsored by Bankrupt-Law.com



According to figures release by the Administrative Office of the Courts on
May 26, 2006, Chapter 7 bankruptcy filings are starting to rise.
Historically, the average number of Chapter 7 filings has been about 100,000
a month. In October of 2005, the month the new bankruptcy laws went into
effect, the number of filings soared to 555,531 as debtors rushed to beat
the deadline. The next month Chapter 7 filings plunged to 5,762.
As the effects ...   more »

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Monday June 19, 1:12 pm ET
By J.W. Elphinstone, AP Business Writer
AP Centerpiece: Foreclosures Expected to Jump As Riskier Adjustable
Mortgages Reset
NEW YORK (AP) -- In 2003, Anita Britten refinanced her two-story brick
cottage in Lithonia, Ga. using a hybrid adjustable rate mortgage, or ARM.
Her lender reassured her that she could refinance out of the riskier loan
into a traditional one when her interest rate started to reset.
Three years later, Britten can't ...   more »

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Critics say bankruptcy law flawed

By SHERYL JEAN

Knight Ridder Newspapers

ST. PAUL, Minn. - Ken Vierling worked hard to become top salesman at a local
printing company. He lived a good life and tucked away money for retirement.
Then came an ownership change that erased his job about 18 months ago.
Vierling ended up in a job that pays 25 percent less. He fell behind on his
bills. Collectors started calling, threatening to repossess his ...   more »