Bankruptcy Information

Financial Troubles? When to File Bankruptcy

Bankruptcy filing rates are down overall, but four Georgia counties are among the top ten in the nation in terms of consumer bankruptcy filings. With 1,096 bankruptcy filings per 100,000 people, Clayton County (Jonesboro) is second only to Shelby County in Tennessee. The recession hit folks in Clayton County hard, as unemployment peaked at 13.5 …

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Bankruptcy and Security Clearance Revocation

Many people who work at Dobbins A.R.B., Moody A.F.B., Kings Bay N.S.B., or a company that supports these installations, put off necessary bankruptcy filings because they fear that such a move will result in the security clearance revocation. While financial problems may have an adverse effect, there is not a direct relationship between consumer bankruptcy …

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Detroit Files Bankruptcy For A Record 18 Billion Dollars

The City of Detroit, the 18th largest city in the United States, has filed for bankruptcy.  The city’s population has dropped from 2,000,000 in 1950 to approximately 700,000 today.  The Wall Street Journal refers to Detroit as the “automobile capital and one time music powerhouse.” The Journal quotes Governor Rick Snyder as stating, “This [filing …

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Bankruptcy Has Made The United States The Greatest Country in History

Bankruptcy has helped make the United States the greatest country in history.  How is this possible?  The reason is that it has allowed people to get a second chance and become productive again. Many famous people have filed bankruptcy and recovered. Many people in the history of this country have suffered financial disasters, filed bankruptcy, …

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Stockton California Set To File Bankruptcy

The Wall Street Journal reported today that Stockton, California is getting ready to file bankruptcy (click here to read the full article).  This economy is so bad that even some large U.S. cities and counties have been forced to file bankruptcy. Stockton, California is not alone.  The Journal reports that Central Falls, R.I. and Jefferson …

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