The American Bankruptcy Institute released figures for 2010 bankruptcy filings, which increased by 8 percent over 2009 figures. Total filings were 1,593,081 for 2010. Since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, known as BAPCPA, became effective, bankruptcy filings have increased each year.
For the full press release, see the ABI website: http://www.abiworld.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=63153
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Monday, February 21, 2011
Wednesday, February 9, 2011
Even the States Face Financial Woes
When debt and financial obligations overwhelm us, we often feel as if we're quite alone in our predicament. Even if we search the "numbers" and see figures that show thousands of people filing for bankruptcy, we may not know anyone personally who has this situation to face. If someone does file bankruptcy, it is often information they keep to themselves.
In the current economy, states and municipalities face crippling debt and expenses, just like the every day person. Check out the Wall Street Journal article on this topic at the following link:
http://online.wsj.com/article/SB10001424052748704364004576132091316245506.html
So, if you are faced with debt and financial obligations, don't feel so alone. Your town or city might be in the same boat!
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
In the current economy, states and municipalities face crippling debt and expenses, just like the every day person. Check out the Wall Street Journal article on this topic at the following link:
http://online.wsj.com/article/SB10001424052748704364004576132091316245506.html
So, if you are faced with debt and financial obligations, don't feel so alone. Your town or city might be in the same boat!
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
Wednesday, February 2, 2011
Bankruptcy Blast Fact
In Massachusetts, in 2009, there were 20,613 bankruptcy filings. This represents a 6.5% increase over the 2008 figures.
82% of filings were Chapter 7 and 18% were Chapter 13.
(Information based on figures provided by the American Bankruptcy Institute.)
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
82% of filings were Chapter 7 and 18% were Chapter 13.
(Information based on figures provided by the American Bankruptcy Institute.)
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
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