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Recent Posts in Bankruptcy News Category

W.R Grace Finally Emerges From Bankruptcy After 13 Years

Chapter 11 bankruptcy is a type of bankruptcy that allows large businesses and corporations to regain control of their financial situation and reorganize their debts, so that they are once again ...
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Expectations Rise that Judge Will Approve Bankruptcy Exit for American Airlines

American Airlines and US Airways have continued to push forward in their merger, in spite of a number of obstacles and one serious setback that has seemed as though it might end the whole deal. After ...
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American & US Airways Merge Approved by Bankruptcy Court

American Airlines recently gained an important accomplishment for the company. It wasn't that long ago that they had filed for Chapter 11 bankruptcy. This came back in November of 2011, making ...
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The 411 on Jacoby & Jacoby Bankruptcy Specialists

Almost everyone gets in difficult financial situations. When you are caught in a hard place and need to develop a strategy to get out of debt, you need assistance. It is never smart to handle delicate ...
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Fewer Bankruptcy Filings May Not Necessarily Indicate an Improving Economy

After a steady increase over the past several years, the number of bankruptcy filings in the U.S. is finally on the decline, although this may not necessarily indicate that the economy is improving. ...
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Los Angeles Dodgers File for Bankruptcy

The Los Angeles Dodgers filed for bankruptcy in a Delaware court on June 27 th, making it the third baseball team to file for bankruptcy in the past three years. Upon filing, the team was cleared to ...
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Star Chef Geoffrey Zakarian Files for Bankruptcy

Geoffrey Zakarian is a celebrity chef in his own right. He participates in four programs on the Food Network, including "Chopped", and has operated a number of high-profile restaurants over ...
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Texas Congressman Files for Bankruptcy

Representative Rubén Hinojosa, a Texas congressman who is currently on the House Financial Services Committee, filed for personal bankruptcy earlier this year. According to court documents, ...
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Vegas Restaurateur Andre Rochat Files for Bankruptcy

Andre Rochat, chef and longtime Las Vegas restaurateur, filed for Chapter 11 bankruptcy on July 8 th, along with three of his businesses. Chapter 11 bankruptcy is a form of bankruptcy that involves a ...
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Bankruptcy Filings Down in First Half of 2011

According to a report by the American Bankruptcy Institute, U.S. consumer bankruptcies have fallen 8% in the first half of 2011, as compared to the same time period in 2010. Last year, bankruptcy ...
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Housing Market Continues to Decline

A recent Associated Press article on Google News suggested that fewer people may be buying homes, resulting in a depressed housing market. Just last year alone the sale of previously owned homes fell ...
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New Bankruptcy Exemption Law Takes Effect

On December 23, 2010, then Governor David Patterson signed into law a new Bankruptcy Exemption Law. This change took effect on January 22, 2011. The new changes significantly increases the number of ...
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Statistics Show Recession Recovery Is Slow

Although we are coming out of the recession, unfortunately many families are still struggling. Unemployment is still incredibly high, and bankruptcy filings and foreclosures have increased quite a bit ...
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Bankruptcy Rates Among the States

Between 2000-2004, New York was the state with the fewest number of bankruptcy filings. It was followed by Connecticut, New Hampshire, Vermont, Delaware, Massachusetts and North Carolina. Topping the ...
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U.S. Bankruptcy Filings Rise 20% in 2010

Everyone is aware that the United States has been in a recession. Unemployment has been high and spending has been low. New figures, however, make the recession even more scary. From June 2009 to June ...
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MGM Studios Files for Chapter 11 Bankruptcy

Metro-Goldwyn-Mayer, Inc., also known as MGM Studios, has filed for Chapter 11 bankruptcy in a federal court in Manhattan. The entertainment studio, which is famous for such movie classics as James ...
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Consumer Bankruptcy Filings at Highest Level Since 2005

The American Bankruptcy Institute (ABI) issued their report yesterday detailing statistics in the bankruptcy industry for the first half of 2010. The data shows a 14% increase in consumer bankruptcy ...
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New Overdraft Banking Fee Regulations Now in Effect

The major changes that have been mandated by the Federal Reserve went into effect yesterday. Now, if you overdraft on your checking account, you can only be charged if you have given the bank ...
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National Home Sales Decrease in May, Dashing Hopes of a Quick Recovery

After strong gains in March and April, sales of previously built homes dropped in May. This is a sign that the federal tax credit introduced last year to energize sales may have sputtered out early. ...
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First Time Home Buyer Tax Credit Disappoints

The first-time home buyer tax credit program launched last year recently came to a close. We came across this article on CNBC.com that goes over the disappointing results. Click here to read the ...
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Senate Votes To Provide Credit Scores to Consumers

Have you been rejected for a credit card, car loan or store charge card in the past and wondered why? An amendment making its way to becoming a bill in senate will help consumers by providing them ...
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NY Times Reports a Rise in Defaults in Loan Modification Program

Despite receiving lower monthly payments through the government's loan modification program, the number of homeowners who have defaulting on their mortgages nearly doubled last month, according to ...
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Consumer Reports Index: Job Market Improves But Consumers Still Face Economic Difficulties

Despite an improved employment picture, consumers faced increased economic difficulties in their lives, according to the Consumer Reports index for April. "This month we have the first real sign that ...
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Bankruptcies on the Rise Again

According to the Wall Street Journal, consumer bankruptcy filings in March were at their highest monthly numbers since 2005. You can read the story on WSJ.com here. Take our Bankruptcy Evaluation to ...
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Consumer Bankruptcy Filings on the Rise Already in 2010

Thinking of filing for Bankruptcy ? You are not alone. According to the American Bankruptcy Institut e, over 111,000 consumer bankruptcies were filed in February 2010. This is a 14% increase when ...
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