Bankruptcy filings on the rise in eastern Tennessee On behalf of Richard Banks & Associates posted in Personal Bankruptcy on Friday, January 25, 2019. People who are on their way to file a bankruptcy petition at the federal courthouse in Chattanooga often feel as if they are the only ones on this path, that no one else has hit financial rock.
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Bankruptcy Filings on the Rise Data from the U.S. Bankruptcy courts released recently showed that there were almost one million individuals and businesses seeking bankruptcy protections as an option to relieve their debt in the 12-month period ending June 30.
· The first quarter increase in overall bankruptcy filings reflects a 66.27 percent rise in consumer filings, and a 53.7 percent increase in business filings, as compared to the first quarter of 2006.
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Farmer Bankruptcies on the Rise The Wall Street Journal reporting that a wave of Chapter 12 bankruptcies is sweeping across the US farm belt as trade disputes take a toll on businesses already hurt.
Chapter 11 filings, which is most commonly used by businesses, are on the rise. Under a Chapter 11 bankruptcy, the court may allow the business to follow a plan to reorganize their debts so it can pay its creditors while continuing to operate the business.
At stake was legislation that sought to address a dramatic rise in bankruptcy filings by making it harder for individuals to discharge their debts through bankruptcy, a goal that credit card companies.
Bankruptcies in the upstream sector are on the rise this year as commodity prices have fallen with little sign of a rebound anytime. companies have filed for bankruptcy, the law firm said.
The percentage of oil produced should continue to rise and increase cash flow along with that rising oil production. This management has performed a near miracle in keeping Chesapeake Energy out of.
According to a June statement by the American Bankruptcy Institute, a non-partisan bankruptcy information clearinghouse, the first three months of 2005 saw a 7.9 percent rise in bankruptcy filings. The organization predicted consumers will continue to seek bankruptcy relief at elevated levels throughout the summer and early fall.
The Bankruptcy Reform Act of 2005 requires, with a few exceptions, that you obtain a credit counseling certificate before you file for relief under the U.S. Bankruptcy Code. You may obtain your certification over the telephone in most cases.