Matador Legal

In a chapter 13 reorganization plan, the second mortgage can be converted into an unsecured debt and is payable according to the plan agreed by the bankruptcy court trustee, if the property value is less than the balance owed on the first mortgage, which itself should be less than a million dollars.
For example, if the [...]

Bankruptcies, both consumer and business rose by nearly 63% in the first four months, compared to the same period last year in the central district of California. Chapter 7 filings increase by 64%, while Chapter 13 filings increased by 40%. Compared to 3 chapter 11 filings last year, this year recorded 11 filings.
Related Links:
http://www.sanluisobispo.com/news/local/story/773670.html

We have previously covered a research paper by Lars Lefgren and Frank McIntyre here. In this post we delve deeper into the research. The entire research paper is here.
Various researchers have found that the average amount discharged in a chapter 7 Bankruptcy varies from $30,000 to $36,000. For the year of 1997, the government expenditure [...]

The personal filings in the central district of California have risen by 75% this for Jan-April period compared to the same period last year. The bankruptcy filings have seen a see saw trend in numbers over the last few years.
In 2004, consumer bankruptcies were 60,300 for the southern district of California. Then in 2005, the [...]