According to an article in the Dallas Morning News, the most recent U.S. Census Bureau figures states that Texas leads the nation in the percentage of residents without health insurance.  More than 1 out of every 4 Texans are without health insurance, a total of 6 million residents and Texas leads the nation in the numbers of children who go without health insurance.

The article said:

“…Texas had the nation’s highest percentage of children under 18 without coverage – 17.9 …

Tags: Bankruptcy Health Uninsured in the United States

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Most people have at least passing knowledge of wage garnishment–the process of deducting money from an employee’s monetary compensation (including salary) as a result of a court order.  Fortunately for those who find themselves in the unfortunate position of having their wages garnished, these payments are limited by federal law to 25 percent of the …

Tags: Bankruptcy Chapter 13 Title 11 United States Code Garnishment Internal Revenue Service tax

President Obama just sent his legislative package to Congress to create the new Consumer Financial Protection Agency.  The new agency’s purpose will be to protect consumers from deceptive or confusing practices by financial institutions.  Chances are, however, that many consumers who are currently struggling with financial stress are not likely to see the immediate effects of this …

Tags: bankruptcy law Lawyers and Law Firms United States United States bankruptcy court United States District Court for the Southern District of New York

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Times are tough on everyone right now.  You are a good person in a bad situation, and you probably feel alone and worried about your near-desperate circumstances.  However, if you have been considering working through a “credit counselor”, explore working through an attorney instead.

You hire the attorney to work on YOUR BEHALF.  And you can …

Tags: Bankruptcy Better Business Bureau Business Credit history Credit score Federal Trade Commission Law United States

… not reverse we could see more individual bankruptcies and even a few municipal bankruptcies in states that have been hit particularly hard by declining property tax revenues.

Job losses, foreclosures and a steady loss of property tax revenue have been the underlining factors in many municipalities’ inability to balance their budgets without cutting benefits to residents.  Many states have even recently announced releasing prisoners early as their budgets for safety continue to …

Tags: Economy Job Loss Unemployment United States

… Here is an overview of the decision made by lower courts last year:

In the case of ( Espinosa v. United Student Aid Funds Inc., No. 06-16421, 9th Cir. 10/02/08) the court stated:

“Our long-standing circuit law holds that student loan debts can be discharged by way of a Chapter 13 plan if the creditor does not object, after receiving notice of the proposed plan, Pardee, 193 F.3d at 1086, and that such notice is not constitutionally inadequate. In re Gregory, 705 F.2d at 1123. We find …

Tags: Bankruptcy Supreme Court of the United States

… that will lower its debt by 62 percent.  FairPoint, owns and operates phone companies in 18 states with a total of 1.65 million lines. The company has been struggling to repay its large debt load while its revenues have continued to fall.  Because of this the FairPoint bankruptcy filing has been expected.

The article said:

“The restructuring deal with lenders holding more than half of its outstanding secured debt will allow the company to reduce its debt from $2.7 billion to …

Tags: Chapter 11 Title 11 United States Code FairPoint Communications

… workers who qualify can receive up to 79 weeks of unemployment (with the extension) and some states are even considering an additional 13 weeks.  Many jobless Americans are finding that they are unable to find work even after a year of searching. Some Americans have even exhausted their savings, liquidated retirement accounts and other assets just to survive on the paltry unemployment benefits.  It’s important that every person enduring a job loss realize that their period of …

Tags: Unemployment United States Department of Labor

… The article said:

“That’s a competitive market, where Frontier is up against much larger United Airlines as well as discounter Southwest Airlines Co. United plus its regional partners flew 44.3 percent of Denver’s domestic passengers in July, versus 24.8 percent for Frontier and 15.2 percent for Southwest, according to the airport.”

But after emerging from bankruptcy, Frontier may have just enough financial edge to compete against the big boys in the Denver market. …

Tags: Chapter 11 Title 11 United States Code Frontier Airlines

… in 2009.  Of course, the lower revenue has hurt the company.

 

The monorail is unique in the United States, because it serves as the only mass transportation system that is completely privately owned.  As a result, the bankruptcy won’t hurt the city’s credit or bond ratings.

 

To get a good understanding of just how much debt the company has, you need to take a look at the numbers.  The company lists debts between $500 million and $1 billion, and it only lists $10 million to …

The Treasury Department has admitted that the Making Home Affordable (HAMP) foreclosure prevention program has not made the type of impact that was expected.  In response the Treasury Department is instituting new rules that will take effect on June 1, 2010.

The new HAMP requirements will force servicers to have in hand all the needed documents from borrowers before they extend a …

Tags: foreclosure HAMP Lenders Mortgage United States Department of the Treasury

… Airports LLC, which is one of the largest domestic off-site airport parking businesses in the United States, has filed Chapter 11 bankruptcy and plans to sell the company after sales were negatively impacted by the battered airline industry.  Parking Co. of America’s Chapter 11 bankruptcy filing listed the company’s assets at $94 million and its debt obligations at $233 million as of September 30, 2009.   Its parent company, PCAA Parent LLC has also filed Chapter 11 bankruptcy. …