There was a time when Betsy Baker would have been embarrassed to be seen shopping at Wal-Mart.
But that was a few years ago, before the price of gold shot up and the economy slowed, all but ruining her family jewelry business. And it was before her monthly house payments skyrocketed to $3,800 a month from $1,800, and she found herself trying to get rid of a house that is worth substantially less than she paid for it. It was before her family conceded that they could not escape their economic woes without filing for bankruptcy.
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Showing posts with label Bankruptcy. Show all posts
Showing posts with label Bankruptcy. Show all posts
Tuesday, July 8, 2008
Monday, April 7, 2008
Bankruptcies: The No. 1 Growth Area For 2008
The St. Louis Post Dispatch is writing Bankruptcy filings expected to soar as economy slides
The law that drastically changed the Bankruptcy Code in October 2005 was supposed make it tougher to escape debts and reduce the number of filings. It worked, for a time.
Although the law made filing for bankruptcy more complex and expensive, the number of cases locally and nationally is rising again. Experts predict a big hike later this year, triggered by the nation's wobbling economy and heavy levels of consumer debt.
Read Complete Story
The law that drastically changed the Bankruptcy Code in October 2005 was supposed make it tougher to escape debts and reduce the number of filings. It worked, for a time.
Although the law made filing for bankruptcy more complex and expensive, the number of cases locally and nationally is rising again. Experts predict a big hike later this year, triggered by the nation's wobbling economy and heavy levels of consumer debt.
Read Complete Story
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