Posted on April 8th, 2010
Consumer bankruptcy filings have not been curbed despite the recent economic upturn. Chapter 7 bankruptcy filings were up 14% in February of 2010 compared to February of 2009. This number was also an increase of 9% from the number of filings in January, indicating an uncomfortable trend.
According to Samuel Gerdano, American Bankruptcy Institute executive director, this is the result of years of overspending and increased debt-stress catching up with individual customers.
Stricter bankruptcy laws implemented in 2005 were meant to decrease the number of Chapter 7 bankruptcy filings by requiring those with a regular income to repay their debt in full or in part over a period of several years under Chapter 13 bankruptcy. Instead, Chapter 13 bankruptcy filings have decreased by 3% from the number of filings this time last year.
If you are suffering financial difficulties and need consultation in regards to filing for Chapter 13 or Chapter 7 bankruptcy, contact contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518 to discuss your options.
Posted on April 1st, 2010
Individuals who file for Chapter 13 usually are able to switch to a Chapter 7 bankruptcy filing. In order to make the switch, individuals should consult their attorney and notify the court.
However, some individuals are not qualified to make the switch if they have filed for Chapter 7 in the last 8 years. If they are not qualified, they still have the option of canceling their Chapter 13 by notifying the court.
If you or anyone you know is considering switching from Chapter 7 to Chapter 13, contact the Milwaukee Chapter 13 bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on March 26th, 2010
A Wisconsin auto dealer filed for Chapter 7 bankruptcy last month. According to court reports, the man owed more than $80 million and had assets of less than $8 million.
Many of the liabilities were obligations to creditors. The auto dealer apparently will sell off certain assets to help pay off his outstanding debt.
If you or anyone you know has considering filing for bankruptcy, contact the Milwaukee Chapter 7 attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on March 5th, 2010
VitalMedix Inc. of Hudson filed for Chapter 7 bankruptcy this week. The Wisconsin biotech company moved from Minnesota last fall.
However, the company was unable to fix its debt problems and was forced to file for Chapter 7 in a Minnesota court. The bankruptcy filing was meant to give the company relief from some of its debts.
If you or anyone you know has considered filing for bankruptcy, contact the Milwaukee Chapter 7 bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on February 4th, 2010
Milwaukee officials say that recent job losses have contributed to a recent rise in foreclosures in the city. The increase in unemployed citizens, coupled with the loss of unemployment benefits for many out-of-work individuals can be linked to the rising foreclosure rates. City officials say that the foreclosure crisis affecting the city can have a serious effect on it’s financial outlook. Milwaukee has received federal money to help with homebuyer assistance and other programs to help boost the economy and slow down the increasing foreclosure rate.
If you are struggling to make regular payments on your important debts, you may wish to consider filing for bankruptcy. For assistance with your claim, contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office at 414-377-0518.
Posted on January 6th, 2010
Bankruptcy filings rose 32 percent in 2009 compared to 2008. According to statistics from the National Bankruptcy Research Center, 1.3 million individuals and businesses filed for bankruptcy.
The uptick in bankruptcy filings was largely a result of the economic recession. As the recession caused many individuals to lose their jobs and other sources of income, many individuals and families had trouble paying off their debts and were forced to file for bankruptcy.
If you or anyone you know has considered filing for bankruptcy, contact the Milwaukee Chapter 7 bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
