Chapter 13

(Newser) - On the heels of yesterday's revelation that Ryan Lochte's parents are facing foreclosure comes this news: Months before Gabby Douglas' gold medal win at the Olympics, her mom filed for bankruptcy. Natalie Hawkins filed for Chapter 13, which TMZ calls "far less severe than Chapter 7."...

(Newser) - It looks to be a discriminatory double-whammy: The banking industry steers black people toward bad home loans, and bankruptcy lawyers stick it to them when the loans go bust. A new study shows that black people are twice as likely to end up in the tougher and more expensive form...

(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...

(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...