Bankruptcy Timeline: Pre-bankruptcy
By Brigitte Yuille • Bankrate.com

You might have spotted some signs that you're headed toward a deep financial hole. You've been skipping payments on your mortgage or car loan or maybe you've been maxing out your credit cards. Repeated calls from creditors demanding their money might tell you something, too.

A low credit score would seem to be a strong hint, but it's not always a good gauge. Barry Paperno, manager of consumer operations at Fair ...   more »

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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 »