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BankruptcyThe Last Resort or a Fresh Start
By Larry Denton

Each year more than 1,200,000 Americans file for protection under the federal bankruptcy laws, according to the American Bankruptcy Institute. Some are credit abusers or are financially irresponsible. But average working men and women who try to pay their bills on time can sometimes find themselves in financial difficulties, as well. The sudden loss of a job, catastrophic medical bills, soaring credit card interest, student loans, a divorce or even a natural disaster can quickly wipe out a life's savings. For many, bankruptcy provides a second financial chance.

Bankruptcy is usually used only as a last resort, after other attempts to solve a financial crisis have failed. You may want to t...
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Copyright 2010
 

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In the News
    Bankruptcy filings up 16 percent
    MILWAUKEE Bankruptcy filings are up 16 percent in Wisconsin during the first half of the year. U.S. Bankruptcy Court records show more than 16,000 petitions were filed through June. Eighty-two percent of the petitions are for Chapter 7 bankruptcy. Thats the type that lets consumers wipe out debt such as credit card balances and medical and utility bills. Bankruptcy attorneys tell the Journal ... Read More ...

    Bankruptcy filings in state up 16% at midyear
    Bankruptcy filings in Wisconsin rose 16% during the first half of this year, an increase lawyers say was driven largely by consumers and small-business operators who couldn't find enough work in the slow economy to keep up with their debts. Read More ...

    Bankruptcy in Connecticut Increases By 24%
    During the first half of 2010, bankruptcy filings for individuals in Connecticut jumped by 24 percent compared to a year ago. In fact, personal bankruptcies accounted for 89 percent of all bankruptcies tracked by the Warren Group, a real estate data firm in Boston, from January to June. Read More ...

 
 
 
 
 

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