BANKRUPTCY IS COUNTRY’S SAFETY NET Wall Street Journal, July 24 2009 There’s a surge in personal bankruptcy filings at the moment, for obvious reasons. Some 30,000 Americans are filing each week, and the figures could top 1.4 million for the year. But too many people are talking about bankruptcy as if it’s a sign this […]
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U.S. mortgage delinquencies accelerate: Equifax Mon Jul 27, 2009 2:08pm EDT By Nick Zieminski NEW YORK (Reuters) – Rising unemployment continues to make more Americans late on their mortgage payments, a sign that the rate of U.S. personal bankruptcies will keep going up, according to monthly data from the Equifax credit bureau obtained by Reuters.
Since the bankruptcy reform laws were passed in 2005 you will see a lot of lawyers stating that they are a “debt relief agency”. Why is that so, and what does that mean? Under 11 U.S.C. § 101 a debt relief agency is defined simply as “any person who provides any bankruptcy assistance to an
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