bankruptcies

In another bit of good economic news, the list of U.S. business bankruptcies will likely get shorter, and probably less distinguished, in 2011, just as it did this year. Still, several factors beyond an improving economy are also at play here.

Several data points this week confirm an ominous new trend among desperate consumers: They have stopped paying their mortgages but they're continuing to pay off their credit cards so they can keep buying staples, like food.

"I thought I was the biggest thief in the world because I didn't make good on the loans I had taken," Cecilia Deal tells WalletPop about her 2008 Chapter 7 bankruptcy. "It was the worst. When you value honesty and sticking to a commitment and then you consider yourself reneging on that value when...

Global corporate defaults totaled 265 in 2009, the most ever. A report by Standard & Poor's also confirms that the 193 U.S. company defaults set a record as well. But now, at least, S&P forecasts significantly improved levels of default risk for 2010.

Some new numbers have come out that serve as a reminder that the country is in a recession, regardless of what economists say. Last month, personal bankruptcies increased by 9 percent,according to the American Bankruptcy Institute. That translates into 135,914 people who last month decided that...

Today, the U.S. Bankruptcy Court for the Southern District of New York granted a petition against Ellen Tracy LLC for a Chapter 7 involuntary petition for bankruptcy. The petition was filed by three creditors seeking nearly $4 million in claims. The creditors were manufacturers of Ellen Tracy...

Job losses and the disastrous housing market continue to drive more and more people into bankruptcy court.Bankruptcy filings rose to 6,000 per day and are expected to increase to 1.5 million this year, up from 1.1 million in 2008, according to a report from Automated Access to Court Electronic...

Turns out that landing on 'bankrupt' isn't the only way to lose on Wheel of Fortune. In this economy, even winning the grand prize means someone can lose.Promotion Consideration is a group that sets up prizes for the big TV game shows. According to Travel Weekly, a travel trade publication,...

In a recent post about the massive increase in personal bankruptcies, Zac Bissonette commented on the seeming disappearance of personal responsibility. A corollary to this is the apparent dissolution of self-control. Here's an example: An acquaintance of mine often complains that he is living from...