Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Bankruptcy News
Bankruptcy Filings Rose In March 2006 12-Month Period
The number of bankruptcy cases filed in federal courts rose 12.8 percent in the 12-month period ending March 31, 2006, according to statistics released today by the Administrative Office of the U.S. Courts. Bankruptcy cases totaled 1,794,795 for that period, compared to 1,590,975 bankruptcy cases filed in the 12-month period ending March 2005.
Prior to the March 2006 12-month reporting period, bankruptcy filings rose 30 percent in the 12-month period ending December 31, 2005. The increase in both the December and March 12-month reporting periods was the result of many debtors filing for bankruptcy before the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 took effect on October 17, 2005. The March reporting period includes bankruptcy petitions filed during that period.
Non-business filings for the 12-month period ending March 31, 2006, totaled 1,759,503, up 12.9 percent from the 1,559,023 total non-business filings in the 12-month period ending March 31, 2005. Business filings in March 2006, totaled 35,292, up 10.5 percent from the 31,952 bankruptcy petitions filed in the 12-month period ending March 31, 2005.
Filing Chapter 11 is known as reorganization
In a chapter 11 case, a liquidating plan is permissible. Such a plan often allows the debtor in possession to liquidate the business under more economically advantageous circumstances than a chapter 7 liquidation.
Newsroom
News about Bankruptcy in North Dakota and nationwide:
Definition:
If your loan is reamortized, the delinquency is added to the loan balance in order to bring your payments up to date. This increases your loan amount and will also increase your monthly payments.
Default
Definition:
The failure by an entity to abide by the covenants in a debt obligation or other agreement to which it is a party. The most common default is non-payment of interest or principal.
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Bismarck
Dickinson
Fargo
Grand Forks
Jamestown
Mandan
Minot
Wahpeton
West Fargo
Williston
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on North Dakota Bankruptcy Attorneys.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?