Business Bankruptcies have risen by 11 % in the first quarter in 2009, compared to 2008. According to American Bankruptcy Institute’s data here, 14,319 business filings were prepared in US. Bankruptcies are usually considered a lag indicator for the economy, as in it lags business life cycles.
Among these 9700 were chapter 7 filings. The Pittsburgh area [...]
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The new chapter 7 bankruptcy no longer eliminates all forms of debts. Tax liens and those financial obligations set down by legal authorities (whether familial support or fines assessed from criminal proceedings) were never part of any bankruptcy protection and secured debts (meaning those tied to property: home mortgages, car or boat loans, etc) are [...] Consumer bankruptcies in Florida have risen to 2309 in April 2009, compared to 2247 in March 2009. 1504 bankruptcies were recorded in April 2008. |
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