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Bankruptcy

The Bankruptcy Blog

Educates consumers on bankruptcy laws.
By Total Bankruptcy.

Post Frequency: 5.8/day

Last Entry: March 28, 2011 at 12:14:25

California Has Highest Foreclosure Risk

Posted on January 15, 2009
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By the Numbers: 1,064,927 Consumer Bankruptcies in '08 ... Number Likely to Climb in '09

Posted on January 13, 2009
Last year overall consumer bankruptcy filing topped 1,064,927, according to the National Bankruptcy Research Center. This number is up 33 percent from 2007, when 801,840 people filed. Numbers are expected to continue to climb this year as the recession weighs...

Bush's 8 Years Mark Weakest Economy Period in Decades

Posted on January 12, 2009
During President Bush’s 8-year reign, the gross domestic product—one of the most popular metrics of economic growth—grew at the slowest pace for a period of that length since the Truman administration (1945-53), according to the Washington Post...

Dealing with Diminished Job Security: Prepare for the Worse-Case Scenerio

Posted on January 07, 2009
Americans are feeling the impact of the economic recession. Workers face mass layoffs and unemployment rates continue to rise. The current labor market is scary—many people are having trouble finding new jobs. The Employment Law Alliance recently surveyed 1,159 workers...

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New Foreclosure Law Allows Quicker Rescue of Left-Behind Pets

Posted on January 05, 2009
Before the new year, California animal control offices were required to wait at least 24 hours before they could rescue a pet from a foreclosed property after they posted a note on the door. But a new 2009 foreclosure law...

Change Your Life in '09: Release Yourself of Old Debt

Posted on January 02, 2009
A new year brings new opportunity. Don't let old debt latch onto you any longer. You may be able to shake off that old debt by filing bankruptcy. Times are tough and millions of Americans just like you have sought...

Latest Fashion Trend for 2009: Bankruptcy

Posted on December 31, 2008
According to the Chicago Sun-Times, several retail analysts are predicting that up to 73,000 retail locations will close during the first quarter of 2009 and 20-40% of retail chains could go totally out of business next year. Ann Taylor,...

5 Steps to Lowering Credit Card Interest Rates

Posted on December 30, 2008
Stop the madness! You don’t have to be bogged down by high interest rates. Check out these tips on how you may be able to get lower interest rates and save yourself some serious cash: Review your latest statements. Figure...

Shoplifting, Robberies & Burglaries Spiking Thanks to Dumpy Economy

Posted on December 29, 2008
The Retail Industry Leaders Association conducted a survey of 52 chain retailers and found that about 80 percent said organized retail crime has jumped, with 50 percent also reporting that robberies and burglaries also increased. The bottom line to this...

5 Reasons the U.S. Economy Will Be Better in '09

Posted on December 26, 2008
We may have real reasons to be hopeful for a better fiscal year in 2009. Read up on MSN’s top 5 reasons to believe we’re heading in the right direction: 1] Oil Prices Are Dropping Those gas prices are going...

God Files Bankruptcy--or at least his "houses" are...

Posted on December 24, 2008
This tough economy hasn't spared houses of God. Church bankruptcies are becoming a more common occurrence as giving is down and the maintenance and mortgage bills are piling up. In fact, church giving is down almost 15 percent in some...

Michael Vick's Creditors Challenge Bankruptcy Plan

Posted on December 11, 2008
bankruptcy, michael vick, atlanta falcons, creditors, nfl

Durbin Makes Another Push for Bankruptcy Bill

Posted on December 09, 2008
Although Illinois Senator Dick Durbin's planned press conference on the Helping Families Avoid Foreclosure bill was a bit overshadowed by the arrest of Illinois governor Rod Blagojevich, Durbin's message remains the same: allowing bankruptcy courts to rewrite home mortgage loans...

Feds Buy $600 Billion in Mortgage-Related Assets

Posted on November 26, 2008
In another attempt to quell the growing financial crisis, the Federal Reserve announced Tuesday it will buy up to $600 billion in mortgage-backed assets. The Fed will purchase $100 billion of Freddie Mac, Fannie Mae and the Federal Home Loan...

Weekend Emergency Plan: Feds Bailout Citigroup

Posted on November 24, 2008
Late Sunday night, federal regulators announced they approved a plan to try to stabilize Citigroup. The plan involves the government investing $20 billion in the company and backing about $306 billion in loans and securities. This emergency plan comes after...

Third Quarter Layoffs at Highest Level Since 2001

Posted on November 20, 2008
U.S. employers initiated 1,330 mass layoff events in the third quarter of this year. This is the highest level for the third quarter since 2001, according to preliminary figures released by the Bureau of Labor Statistics. The mass layoffs accounted...

If Cars Industry Goes, So Will Millions of Jobs

Posted on November 18, 2008
Moody’s Economy.com chief economist Mark Zandi estimates that 2.6 million people will lose their jobs if GM, Chrysler and Ford collapse and that the economy is too weak to handle such a big blow. That number includes 250,000 people who...

No. 2 U.S. Bank to Slash 52,000 Jobs

Posted on November 18, 2008
Citigroup Inc. just revealed plans to cut 52,000 jobs—15 percent of its workforce—by early 2009. This mass layoff is in addition to the 23,000 jobs that were cut between January and September 2008. Expenses will also be cut by as...

Bush & Obama Front Line: What to Do About the Car Industry?

Posted on November 13, 2008
In his first press conference since he was declared the 44th president, Obama said that the U.S. auto industry is “the backbone of American manufacturing” and that the Bush administration should “do everything it can to accelerate the retooling assistance”...

Credit Card Interest Rates Falling

Posted on November 12, 2008
Good news for consumers: on average, credit card annual interest rates fell for the third-straight week. Overall, the average APR for variable-rate credit cards is 11.30 percent, which fell from 11.33 the week before. For low-interest cards, which have rates...

China Announces $586 Billion Economic Relief Package

Posted on November 10, 2008
Throughout the global financial crisis, the Chinese government publicly forecasted that the financial crunch would only minimally impact China. But it appears that the government now thinks differently. The Hu Jintao regime has decided to provide $586 billion for an...

Bankruptcy Lawyer Going to Prison

Posted on November 07, 2008
A bankruptcy lawyer from Jackson, MS is heading to prison after being convicted of defrauding his bankruptcy clients out of thousands of dollars. John Allen was sentenced to serve 32 months in federal prison after he pleaded guilty to the...

Government's Mortgage Relief Program Not Popular

Posted on November 06, 2008
The Hope for Homeowners program (H4H) was the federal government’s attempt to quell the rising number of home foreclosures. It was launched on Oct. 1 and, over the next three years, was expected to help as many as 400,000 homeowners....

Wounded Home Builders Lobby For Congress to Stimulate Market, Prevent Foreclosure

Posted on November 05, 2008
The National Association of Home Builders (NAHB), the home building industry’s trade association, spent $852,689 lobbying Congress in the third quarter. Their goal was to support bills that would help homeowners in foreclosure and make it easier for potential homeowners...

October Bankruptcies Toped 100,000 For The First Time Since 2005

Posted on November 04, 2008
American businesses and individuals filed 108,595 bankruptcies, which is up 13 percent from September according to a Bloomberg article. October was the first month that more than 100,000 bankruptcies were filed since the bankruptcy law changed. In 2005, right before...

R.I.P.? Foreclosed Purgatory: Deceased Kicked Out in Funeral Home Evictions

Posted on October 30, 2008
Five bodies and the cremated remains of 22 people were evicted last week from a funeral home in suburban Detroit. The deceased remains were removed from the House of Burns Memorial Chapel in Pontiac and shipped to the county medical...

America's Credit Card Defaults Increasing

Posted on October 30, 2008
The Washington Post reports that Americans are increasingly unable to pay off their credit card debt, which forces banks to not only lend to fewer people, but to also stockpile cash to guard against future losses. Recent Federal Reserve data...

Report: September Foreclosures Up 71% From Q3 2007

Posted on October 24, 2008
A RealtyTrac U.S. Foreclosure Market Report Shows the third quarter foreclosure activity is up 3 percent from the second quarter and up an astounding 71 percent from the same time last year. However, there is good news: September foreclosures decreased...

Another Huge U.S. Bank Making More "Mistakes"

Posted on October 22, 2008
Countrywide Home Loans Inc. refuses to follow a ruling from Illinois bank regulators, which was created to protect homeowners.

Alternative to Bankruptcy May Mean Job Cuts, Store Closures for Circuit City; Data Breach Report

Posted on October 21, 2008
Richmond-based Circuit City may file bankruptcy; New report finds most data breaches caused by employees

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