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December 2, 2008 10:27:45 PM CST


Chapter 13

Chapter 13 news stories

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One Million Going Bankrupt

Record spike in bankruptcy filings, more ahead

(Newser) - More than a million Americans are headed for bankruptcy in 2008, mostly due to crippling household debt, according to the American Bankruptcy Institute. There were 76,120 bankruptcy filings last month—a 37% increase over February last year, and the biggest monthly spike since the change in personal bankruptcy laws in 2005. February's filings were up 15% over January. More »

More about:  subprime crisis US economy bankruptcy Chapter 13

Bankruptcies Jump as Owners Fight to Save Homes

Popular Chapter 13 staves off foreclosure

(Newser) - Bankruptcies jumped 23% last month over the same time last year as debtors caught up in the sagging US housing market struggled to save their homes, reports the Wall Street Journal . Homeowners are now increasingly turning to Chapter 13 as an option—which can stave off foreclosure for three to five years as debtors work out their finances. Of last year's filings, about 40% were Chapter 13, compared with 30% in 2005. More »

More about:  foreclosure mortgage bankruptcy Chapter 13

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