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Bankruptcy Law
With many people having lost jobs in recent years due to the economic downturn and the growing trend of sending jobs offshore, and with interest rates on credit cards and loans continuing to rise, more and more Americans are filing for bankruptcy. In 2004 there were 1.6 million personal bankruptcies, almost double the number of a decade earlier. So far, the numbers for 2005 indicate a slight decline from last years high, but there are still hundreds of Americans filing for bankruptcy each day.
Money Advice for the Tapped Out
In 2003 the Federal Reserve Board reported that the personal debt of U.S. citizens amounted to about $11.3 trillion, with $1.98 trillion in credit card and car loan debt and $9.3 trillion in mortgage and other debt. In 2004 the collection agency industrys directory listed 658 leading collection agencies. With the tremendous amount of debt that many American families have generated, it is unsurprising that so many of these households fall behind. When this happens creditors often assign the debt to a collection agency, and thats when the phone calls and letters begin. It is important that consumers know they are protected, as well as what those protections are.
Credit Reporting
A persons credit rating can affect his or her way of life in drastic ways. From applications for lines of credit and mortgages to employment, leases, and insurance, a credit rating can have either a negative or positive impact on nearly every important financial event in an individuals life. Anyone who has ever applied for a personal loan or other type of credit line, a job, or insurance has a credit record, which is maintained by a consumer reporting agency.
Latest Bankruptcy News
• Bankruptcy Case Frustrates Omaha Woman
Found on 04 Sep 2010 02:05 GMT
An Iowa construction company with an Omaha office files for bankruptcy protection, leaving some small businesses in a money pinch.
• Bankruptcy Protection & Economic Teetering in a Strange Economy
Found on 03 Sep 2010 14:30 GMT
Bankruptcy protection may be needed for the city of Harrisburg, Pennsylvania. It's just a sign of the times in a down economy, right? Dauphin County, which is a guarantor of Harrisburg bonds, has given permission to a bond trustee, TD Bank, to sue the city over $35 million it owes on bond payments for an incinerator project, the Central Pennsylvania Business Journal reported Thursday. These day...
• Bankruptcy judge says Houser?s Rome trial to continue
Found on 03 Sep 2010 08:07 GMT
ATLANTAA federal bankruptcy judge in Atlanta ruled Thursday that a civil case filed against a former Rome nursing home owner can continue today in Floyd County Superior Court. George D. Houser ...
• Tax-News.com: South Africa Rejects Mining Tax
Found on 03 Sep 2010 03:45 GMT
Tax-News.com: South Africa's Minister of Mineral Resources, Susan Shabangu, attending the Paydirt Africa Downunder Conference in Perth, has said that her country would not introduce a new mining tax, as is being proposed in Australia.
• Tax-News.com: DIFC Announces Strong Growth In 2010
Found on 03 Sep 2010 03:45 GMT
Tax-News.com: Despite the economic downturn, the Dubai international Financial Centre is continuing to attract companies form all over the world, especially from Asia.
Recommended Bankruptcy Links
• Bankruptcy - Wikipedia, the free encyclopedia
Found on 30 Aug 2010 23:46 GMT
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a ...
• The Truth About Bankruptcy - Bankruptcy - daveramsey.com
Found on 31 Aug 2010 01:34 GMT
Find out why Dave Ramsey says bankruptcy is not a good way to get out of debt. The truth about bankruptcy is that it can be a hard, life-changing event.
• Bankruptcy Lawyers: Chapter 13 Attorneys & Chapter 7 Lawyers
Found on 03 Sep 2010 01:44 GMT
Bankruptcy Information and Help. Learn about Chapter 7 and Chapter 13 Bankruptcy Law and Find a Local Bankruptcy Lawyer. 24/7 Help Line: 800-859-0844
