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It can actually be the start of something good.
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Your attorney should be as well.

Personal bankruptcies continue to fall in October

In October, personal bankruptcies decreased for the fourth consecutive month.  Experts suspect the decline in consumer bankruptcy filings is related to a decrease in the use of credit.

Executive director of the ABI Samuel Gerdano stated, “The declining filings correlate to tightened consumer spending and the overall pull back in consumer credit associated with a stagnant economy.”

This week, the National Bankruptcy Research Center and the American Bankruptcy Institute released data on bankruptcies filed in the U.S. in the month of October.  According to the two, a total of 106,255 personal bankruptcies were filed across the country last month.

Compared to October 2010, 19.6 percent fewer personal bankruptcies were filed in the U.S.  Last month’s personal bankruptcy filings also experienced a 2.1 percent month-over-month decrease.

If you or someone you know is considering filing for bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about your filing options.

Personal bankruptcy filings down in May

According to the American Bankruptcy Institute, the number of people in the United States that filed for bankruptcy last month was 16 percent lower than the number of people who filed for bankruptcy in May 2010.

Last month, a total of 114,803 people filed for chapter 7 and chapter 13 bankruptcy.  Last year, 136,142 filed for personal bankruptcy in the month of May.

Bankruptcies in the first quarter of the year were 6 percent lower than the number of bankruptcies filed in the first quarter of 2010.  From January to March, a total of 340,012 personal bankruptcies were filed in the United States.  In the first quarter of 2010, 363,215 people filed for personal bankruptcy.

To discuss the steps to take to file for personal bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.

Jefferson County May File for Bankruptcy

Alabama’s Jefferson County is in serious financial trouble after several alleged bribes with investors and building a new sewage system that may sink the county altogether.

The county loaned money by several Wall Street banks, such as J.P. Morgan, who served as investors when the county needed to rebuild its sewage system. According to reports, the investors created a complex deal involving swaps, and, now, the county owes investors about $3.2 billion for its new sewage system.

The county has been advised to file Chapter 9 bankruptcy, which may do away with occupational taxes. If Jefferson County does file for bankruptcy, it will be the largest county bankruptcy in the U.S.

Financial problems can feel like the end of the world, but you have options. If you are facing a troublesome financial situation and would like to discuss filing for bankruptcy, please contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Students Facing Debt Due to College Loans

The number of pending student loan cases in Birmingham has significantly increased in recent years. Sixty-two lawsuits have been filed against graduated students for their unpaid loans, which is four times the amount that was filed in 2003.

Along with rising tuition prices, the amount students take out for loans has also greatly increased. Rising costs coupled with the lack of available jobs once a student graduates has contributed toward this trend of early debt.

Those who owe money for loans are not given very much leniency. In order to receive the money for loans, prosecutors are sometimes able to place liens on the houses of people who owe money or, even, take money out of a debtor’s saving account or salary.

College administrations have attempted to combat this trend by issuing more grants.

If you are facing personal debt, talk to someone who can help. Please contact the Birmingham debt negotiation lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Lehman Brothers revises bankruptcy plan

International financial firm Lehman Brothers Holdings, Inc., has revised the details of its bankruptcy plan. The new plan is expected to allow for a faster and more complete financial recovery.

Lehman Brothers declared bankruptcy in September 2008 under Chapter 11, the largest bankruptcy in U.S. history. Its divisions and properties were then divided and sold to other financial services companies.

Prior to the bankruptcy filing, the company was reportedly modifying its balance sheet to appear more stable than what the real numbers indicated.

If you are having trouble paying for your bills and are seeking financial relief to restart your finances, our Birmingham bankruptcy attorneys can help. Contact the Greenway Law Firm, LLC, today by calling (205) 324-4000.

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505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000