Bankruptcy Blogs - Page 1

We just posted the latest update to the confusing situation with failed mortgage servicer Taylor Bean Whitaker. According to the director of mortgage supervision for the Georgia Department of Banking and Finance, TBW has been to a hearing at bankruptcy court and has been given a deadline of October…

Hard to believe it's almost Memorial Day. Today on the Ilyce Glink Show, I announced that I'll be filling in for Clark Howard on Friday and Memorial Day Monday in addition to another live show next Sunday. I hope you can tune in.

Meanwhile, we had a great show today. Here are some of the highlights…

The number of consumer bankruptcies filed in April increased 36 percent from a year earlier, reports the American Bankruptcy Institute today.

A total of 125,618 filings were made in April, up from 121,413 in March. That's a 3.5 percent increase. More than a quarter (26 percent) of filings were…

The number of bankruptcies filed by American consumers increased 41 percent in March compared with a year earlier, according to the American Bankruptcy Institute.

121,413 consumer bankruptcies were filed, up 24 percent from February.

ABI predicts there will be 1.4 million consumer bankruptcies in…

Early in today's show, I took a call from Mike who said he had filed for bankruptcy 9 years ago, amid a tough and expensive divorce battle and custody fight. He managed to re-establish his credit, but had rebuilt his credit card debt to about $30,000.

He's working three jobs (he said he has no…

U.S. consumer bankruptcy filings increased 29.2 percent nationwide in February from the same period a year ago, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). The overall February consumer filing total of 98,344 represented…

A total of 88,773 consumer bankruptcy filings were made in January. That's up 34.4 percent from a year ago, according to the American Bankruptcy Institute.

In December 84,926 filings were made.

Of the January filings, more than 32 percent were Chapter 13 - meaning that the debtors wanted to keep some…

Circuit City Stores announced Friday that it will seek Bankruptcy Court approval to begin the preccess to liquidate the assets of the company.

Unfortunately for the 34,000 people employed by Circuit City, the consumer electronics retailer was unable to come to an agreement with its creditors and…

Earlier this week the American Bankruptcy Institute announced the 2008 year-end total number of consumer bankruptcy filings: 1,064,927.

In 2007, 801,840 bankruptcy filings were made.

"Consumers are under great financial stress, with no immediate end in sight," said Executive Director Samuel J…

I started the show talking about the hearings on Detroit. I was blindsided this week by the stupidity of the three car company heads from Detroit, who couldn't even pool their resources to use ONE plane to fly to the congressional hearings. Nope, they needed to each fly their own planes.

It's…

U.S. consumer bankruptcy filings increased 40 percent nationwide in October from the same period a year ago, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). The overall October consumer filing total of 106,266 also…

The number of consumer bankruptcies filed in September rose 28.6 percent compared with a a year ago, according to the American Bankruptcy Institute. More than 88,000 consumer bankruptcy filings were made in September. ABI says the number declined 8 percent from August. The percentage of Chapter 13…

Today on the show, we're going to talk about the Fannie Mae/Freddie Mac takeover by the Federal Government and what it means to you.

We'll also have information on seniors going bankrupt,and Hewlett Packard's new Digital Home.

Tune in at www.wsbradio.com and keep checking back for updates and show…

Today on the Ilyce Glink Show, we talked about Integrity Bank, the Alpharetta, Ga.-based bank that failed on Friday. It was the 10th bank to fail this year. Regions Financial Corp has assumed the assets of Integrity Bank and all of its 5 branches will reopen on Tuesday as Regions Bank branches…

During the first half of 2008, ending June 30, the number of consumer bankruptcies filed rose by 28.8 percent compared with the first half of 2007, reports the American Bankruptcy Institute.

There were 503,749 consumer bankruptcies filed in first half 2008; in first half 2007 there were 391,105…

While in grad school, I covered the bankruptcy beat for about six months. It was during the time when there was excess liquidity, or cash, in most markets - the stock market, real estate market and so on. And many of the bankruptcy professionals I talked to said that their business improves when the…

It's not enough to just write down what you spend -- if you're the kind of person who spends to alter your mood. If that's the case, you need to write down how you're feeling about the money you spend, right when you spend it.

You should also write down how you're feeling when you save money. The…

More Americans filed for bankruptcy in the first half of 2008 compared to the first half of 2007.

The American Bankruptcy Institute announced that filings increased 30 percent during that time.

In June alone, more than 82,700 people filed for bankruptcy. Last year at the same time, 68,559 people…

I received a call during my radio show yesterday from an older gentleman who wanted to know if he should allow the local sheriff to serve him or not. He is approximately $7,000 in debt, but he knows he is being served on part of that debt, around $4,000.

"I could avoid the server," he suggested.

"I…

ATA Airlines filed for Chapter 11 bankruptcy in Indianapolis yesterday and stopped all operations effective 4am this morning. ATA attributes its bankruptcy to losing a key military contract and rising jet fuel prices.

This comes just three days after Aloha Airlines shuttered its operations, citing…

Today on the Clark Howard show, we're talking about the completely unexpected events in the financial market this year.

We're also looking into the airlines, and the increase in airfares and Aloha Airlines bankruptcy filing today.

In housing news, vacancy rates are rising to new highs. We'll talk…

While it's getting more difficult to qualify for home equity loans, Americans borrowed more of their home equity lines of credit than last year.

Consumers' average credit score rose to 737, from 730 in 2006, according to the Consumer Bankers Association. Home equity lenders use credit scores in…

Last Friday, the House passed a bill which will reduce the amount of tax due on mortgage debt forgiven during foreclosure or while in bankruptcy. Currently, taxpayers must pay tax on this amount as it is considered income. It's really "phantom income:" income that's taxable but not spendable. The…

On the Clark Howard Show this afternoon, a caller asked if going bankrupt would affect his taxes. Another caller wanted to know what effect deductions would have on his taxes. Here's one way to start figuring things out.

At first glance, this looks like it's only valid for 2005. But once you get into…

Here's the heart-stopping figure of the month: $9,300. That's how much the average family carries in credit card debts. Ten years ago, the amount of debt Americans carried was less than half.

What's going on? It's the "gotta haves" that have taken over this country, as in "I gotta have that new bag…