Bankruptcy

The rate of bankruptcy filings increased from 2007 to 2008 in many parts of the United States. In fact, by some estimates, the number of people filing for bankruptcy protection in 2008 will reach 1.1 million.

The US housing bubble & it's deflation may be correlated with this increase- especially in the states where housing values increased the fastest like California, Arizona, Nevada, and Florida.

During the last few decades, credit was easier to get than in years past.

Several banks began aggressive credit card marketing campaigns & many consumers took advantage of the easy lines of credit that they were afforded. And, as stated above, the housing market inflated to values that have never been seen before.

As bills start to come due for purchases and the economy began to falter, it's not suprising to see an increase in people filing for bankruptcy protection.

Will this trend continue?

Who knows. However, creditors will feel the increase in bankruptcy filings in the next few years.

Inudated With Filings…
According to one website…. Bankruptcies in the High Desert are running at such a rampant rate that one local law firm said they are being inundated with filings. Read the entire story here: http://www.vvdailypress.com/news/victorville-13133-bankruptcy-year.html Related posts:Bankruptcy Filings Increasing In Ohio From Ohio… New filings at the Dayton office of the...Ventura California Bankruptcy Filings Increase… Click here to read the [...] Related posts:Bankruptcy Filings Increasing In Ohio From Ohio… New filings at the Dayton office of the...Ventura California Bankruptcy Filings Increase… Click here to read the story… http://www.venturacountystar.com/news/2009/jan/20/businesses-consumers-seek-help-bankruptcy-mount/ County residents and...Personal Bankruptcy Filings In Washington From The state of Washington: In the first three months... Related posts brought to you by Yet Another Related Posts Plugin. - 8 hours ago
Small Business’ & Bankruptcy
What about small business’ & bankruptcy…how are they faring? What has been happening with business bankruptcies since the recession began? Click here for the article from the New York Times… http://boss.blogs.nytimes.com/2009/06/22/ Related posts:Business Owners and Bankruptcy What about small business owners? Should they be concerned about...Helping Troubled Homeowners From The NYT… Foreclosure, bankruptcy & the New York Times article [...] Related posts:Business Owners and Bankruptcy What about small business owners? Should they be concerned about...Helping Troubled Homeowners From The NYT… Foreclosure, bankruptcy & the New York Times article about Obama’s...Mortgages - Who’s The Real Owner? From the New York Times… Take a look at this:... Related posts brought to you by Yet Another Related Posts Plugin. - 31 hours ago
Your Being Followed…
Listen to this: With a painful one-two punch of the economy and tightening credit markets, bankruptcy is knocking out business and individuals alike. The article discusses how filing bankruptcy might not wipe away all debts in some cases…the debt might follow the debtor… Click here for more: http://www.coloradoan.com/article/20090628/BUSINESS/90626031 Related posts:Chapter 7 and Debtors Making 25K Every Month… So, you are [...] Related posts:Chapter 7 and Debtors Making 25K Every Month… So, you are a debtor filing for bankruptcy protection and...Student Loans & Bankruptcy From information commonly available, student loans (as a matter of...Glossary of Bankruptcy Terms Automatic Stay: An automatic court order which is supposed... Related posts brought to you by Yet Another Related Posts Plugin. - 2 days ago