When people fall on hard times, it is sometimes necessary to file for bankruptcy. There are many different kinds of bankruptcy that have different effects on filers. Bankruptcy can help debtors work their way out from under large amounts of debt, but it can also seriously impact their lives and the lives of their families. For this reason, anyone considering filing for bankruptcy should weigh their options and consider whether bankruptcy is right for them. FindLaw’s Bankruptcy News section is the foremost source of legal news and analysis about bankruptcy, with breaking news, attorney articles and information from sources around the web.
Mon, 17 Nov 2014 15:12:17 GMT
WASHINGTON (AP) — The Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home's market value has dropped below the amount they owe on the first mortgage.
Fri, 14 Nov 2014 21:36:28 GMT
SACRAMENTO, Calif. (AP) — A major investment firm has challenged a court-approved bankruptcy plan for the California city of Stockton, possibly jeopardizing resolution of one of the country's biggest city bankruptcies stemming from the 2008 housing bust.
Fri, 07 Nov 2014 22:07:34 GMT
DETROIT (AP) — Bankruptcy Judge Steven Rhodes has approved Detroit's plan to restructure $7 billion of the city's $12 billion debt load following a nearly two-month trial. But how did Detroit get to the point where it became the largest U.S. city to file for bankruptcy and what will keep the city from further fiscal irresponsibility?
Fri, 07 Nov 2014 18:07:41 GMT
DETROIT (AP) — A judge has approved Detroit's plan to get out of bankruptcy by cutting pensions, erasing billions of dollars of debt and promising nearly $2 billion in better services for a city desperate for a turnaround.
Fri, 07 Nov 2014 06:33:53 GMT
DETROIT (AP) — The largest public bankruptcy in U.S. history is reaching a climax, with a judge set to decide whether to approve Detroit's plan to emerge from Chapter 9 with buckets of debt emptied and $1.7 billion pledged to improve the quality of life in the struggling city.
Thu, 30 Oct 2014 22:11:05 GMT
SACRAMENTO, Calif. (AP) — A judge on Thursday approved a plan by Stockton, California, one of the largest U.S. cities to declare bankruptcy, allowing it to eliminate more than $2 billion in long-term debt payments without touching its massive pension obligations.
Thu, 30 Oct 2014 18:59:49 GMT
SACRAMENTO, Calif. (AP) — Judge OKs debt plan for Stockton, California, 1 of largest US cities to declare bankruptcy.