Consumers with debt problems filed 1.53 million bankruptcy petitions last year according to recent data. This represents a nine percent increase over 2009, reflecting on the need for Americans to utilize bankruptcy protection to resolve their financial debt problems, which are in large part attributable to the recession, national financial crisis and overall weak economy. […]
Though last year witnessed 9 percent more consumer bankruptcy filings than the previous year, there was a gradual slowdown in personal filings at the end of 2010, the American Bankruptcy Institute (ABI) recently revealed. There were 357,050 total consumer filings in the last quarter of 2010, representing a 0.4 percent decrease from the same quarter […]
This article was taken from an article by Jay Fleishman, a bankruptcy attorney in New York who writes interesting bankruptcy articles almost on a daily basis: BANKRUPTCY AND FILING TAXES Many people who need to file bankruptcy have other financial issues swirling around them as well, and taxes seem to loom the largest. Some have […]
It is the first week of February and the phones at the Maryland Bankruptcy Center have been ringing off the hook. I am a Maryland Bankruptcy lawyer. I earn my living helping Maryland residents file Chapter 7 and Chapter 13 bankruptcy. February is the busiest time of the year for bankruptcy filings. Why? Good question. […]
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 to 1,596,355, an increase of 13.8%. Chapter 11 (business and large individual) filings decreased, from 14,745 to 14,191, a 3.8% drop. Business filings overall […]
If you’ve got a judmgent against you for an unpaid credit card debt, personal loan, medical bill, or similar debt then you may be thinking that filing for Chapter 7 or Chapter 13 personal will solve the problem. Well…..you are CORRECT! A judgment is a common reason for Maryland residents to consider filing for bankruptcy. In Maryland […]
Recently the Maryland legislature passed a new law that increases a homeowners chance of keeping their home even after filing Chapter 7 bankruptcy, which eliminates almost all of their debts. A terrific website called legalconsumer.com recently posted an article about the new Maryland Homestead law, and in part, it provides as follows: Almost every state […]
Why is it that credit reporting companies have so much control over our lives? One false report on your credit report could cost you the ability to buy a house, car or to even obtain a credit card. Is that fair? No way. Is there anything you can do about it? Yes, there is. It’s […]
I want to give you all an idea of the bankruptcy process. I’ll try to keep this simple and cover only the “normal” case and not cases involving objections from creditors and other complications. Once you’ve chosen a Maryland bankruptcy attorney, provided all of the documentation requested, and paid the required fees, it’s time to […]
News Flash! November 8, 2010 —Bankruptcy cases filed in federal courts for fiscal year 2010, the 12-month period ending September 30, totaled 1,596,355, up 13.8 percent over total FY 2009 bankruptcy filings of 1,402,816, according to statistics released today by the Administrative Office of the U.S. Courts. While non-business bankruptcy filings continued to rise in […]
