Bankruptcy Blog

Bankruptcy Bill Expected To Return Next Congress

marcus — Fri, 21 Nov 2008 15:51:55 +0000

As congress begins to close its door for the remainder of the year, legislators are looking to once again revive a bill next congressional session that will allow bankruptcy judges to rewrite mortgage terms. Allowing bankruptcy judges to rewrite mortgage terms will assist financially woeful homeowners to remain in possession of their home. This [...]

Historic American Icons Faced Bankruptcy

marcus — Thu, 20 Nov 2008 22:56:35 +0000

Through out time many people have had to face bankruptcy. Bankruptcy was created to give anyone overburdened by debt and unable to maintain their personal finances, the opportunity to re-start with a clean financial slate. The historical registry of bankruptcy petitioners includes American most notable sons. Among the petitioners [...]

Attorney General Files Suit Against Foreclosure Prevention Company

marcus — Thu, 20 Nov 2008 22:55:07 +0000

The increase of home foreclosures has created a plethora of fraudulent foreclosure prevention companies popping up across the nation. In addition, overwhelming reports are recorded of homeowners paying exorbitant upfront contract fees only to later discovery no one has spoken to the mortgage company on their behalf. This unfortunate surge of fraudulent [...]

Obama On Automaker Bailout Versus Bankruptcy

marcus — Wed, 19 Nov 2008 20:43:57 +0000

President – elect Obama spoke on whether a bankruptcy or government bailout would be the best option for the US automakers and the nation’s economy. Obama thought automakers’ management, labor unions, creditors and all other stakeholders will need to be involved in a collective effort to avert the automakers’ predicted catastrophe. If US [...]

If Automakers Fail, Millions Will Lose Jobs

marcus — Wed, 19 Nov 2008 20:41:09 +0000

The top three US automakers and the head of the Auto Workers Union are testifying before congress in an effort to encourage a government bailout for their industry. The automakers are seeking a $25 billion government injection into the US auto industry. US automakers have suffered because of the economy crisis and decreased [...]

Worsened Economy Drives Consumers to Safety of Bankruptcy

marcus — Tue, 18 Nov 2008 17:04:13 +0000

Bankruptcies are on the rise as Americans adjust to dealing with record-high consumer debt, reduced credit and job losses. Generally through tight economic times, the American homeowner was able to tap home equity to manage finances. However, declining home values and the decreased ability to borrow money has many homeowners struggling to simply [...]

New Jersey Foreclosures Issues Growing Faster than Neighboring Pennsylvania

marcus — Mon, 17 Nov 2008 19:28:16 +0000

Neighboring states, Pennsylvania and New Jersey, tell a different tale of the current national economic crisis. Although both states are dealing with their share of financial woes, New Jersey more than triples the monthly foreclosures of the Keystone state. The national average of foreclosures is more than 250,000 notices per month resulting in [...]

Delaware Bankruptcy Online Filing System Fails

marcus — Mon, 17 Nov 2008 19:26:11 +0000

The online bankruptcy filing system in Delaware has come to a halt. Delaware is the premiere state in which to register corporations but corporate bankruptcies are at historic levels. An otherwise insignificant technical issue with the system has caused a real problem for the legal system in Delaware. The 24 hour [...]

Billionaires Experience Bankruptcy

marcus — Mon, 17 Nov 2008 19:25:01 +0000

The US economic crisis has reached the pockets of the world’s billionaires. The Yellowstone Club, based in Montana, is the exclusive vacation home to many of the world’s billionaires, including Bill Gates of Microsoft. However, being a favorite site of traveling billionaires couldn’t prevent the international resort from filing for Chapter 11 Bankruptcy. [...]

Tweeter Bankruptcy - Use Those Gift Cards Now!

admin — Sun, 16 Nov 2008 23:31:52 +0000

As the economy continues to spiral downward, another retail store is closing it’s doors due to filing bankruptcy. Tweeter, a high end retail electronics store, filed bankruptcy on November 5th. Initially the bankruptcy court granted Tweeter permission to accept gift cards that have already been purchased by consumers through November 15th, but that deadline has [...]