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Category Archives: Bankruptcy News

Will New Credit Card Rules Increase Bankruptcies?

Published on February 7, 2010 by Robert A. Kraft

Jonathan Ginsberg, Atlanta Bankruptcy Attorney, has an interesting post at the Bankruptcy Law Network blog. His theory is that the new credit cards rules taking effect later this month may cause personal bankruptcy filings to rise. This in spite of the fact that the purpose of the new rules is to benefit consumers. Please read the [...]

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Bankruptcies Jumped 32 Percent in 2009

Published on January 5, 2010 by Robert A. Kraft

As Dallas bankruptcy lawyers, we were not surprised by any of the facts reported today by the Associated Press, but the story is interesting. Consumers and businesses filed so many bankruptcy petitions in 2009 that it became the seventh-worst year on record, with more than 1.4 million petitions filed. This is an increase of 32% [...]

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Fewer Delinquent Mortgage Borrowers Are Catching Up

Published on August 26, 2009 by Kathleen Munden

The Wall Street Journal has reported that homeowners who have fallen behind on their mortgages are much less likely to catch up again than in previous years. The report from Fitch Ratings focused on mortgages that were packaged into securities for sale to investors, and excluded loans that were guaranteed by government-backed agencies and those [...]

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Bankruptcy Filings Reach 2005 Levels

Published on August 5, 2009 by Kathleen Munden

According to the American Bankruptcy Institute, consumer bankruptcy filings reached 126,434 in July 2009, the highest monthly total since the rush of filings that occurred before the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented in October 2005. The data came from the National Bankruptcy Research Center (NBKRC). The July 2009 consumer filing total [...]

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Local Bankruptcy Attorneys Agree That Medical Bills Play a Role In a Majority of Bankruptcies

Published on June 30, 2009 by Kathleen Munden

In the wake of a Harvard study published in the American Journal of Medicine, which found that medical bills were a factor in 62% of bankruptcies nationwide, the Dallas Morning News interviewed local attorneys and consumer advocates concerning those findings.
Carolyn Chesnutt, a bankruptcy lawyer with Addison-based Charles R. Chesnutt, P.C., stated, “Often the most responsible, [...]

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Harvard Study Finds Illness and Medical Bills Are Linked To Nearly Two-Thirds of Bankruptcies

Published on June 29, 2009 by Kathleen Munden

According to research conducted jointly by Harvard Law School, Harvard Medical School, and Ohio University, medical bills were a factor in 62.1% of all bankruptcies filed in 2007. The data for the study was collected prior to the current economic downtown, and likely understates the current impact of illness on bankruptcy filings.
The study, which is [...]

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