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There are 2 sides to the changes in bankruptcy rules. It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate. For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run). However, lawyers working with the actual people filing for bankruptcy say that the new law is seriously flawed because it puts more financial burdens on already broke clients and reduces potential debt repayment to small businesses. And then of course you have the credit card companies charging high interest rates which in quite a
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Lastest "new york bankruptcy" News:

American's bankruptcy fuels merger talk
NEW YORK (CNNMoney) -- American Airlines' bankruptcy has many in the industry questioning if a merger is in its future.
Fri, 03 Feb 2012 05:14:26 -0800

GCG Expands New York City Office
LAKE SUCCESS, N.Y., Jan. 25, 2012 /PRNewswire/ -- The Garden City Group, Inc. (GCG), the recognized leader in class action and bankruptcy settlement administration, has relocated its New York City office ...
Wed, 25 Jan 2012 07:30:00 -0800

Senior Bankruptcy Lawyer Joins Fulbright as Partner in New York
A senior bankruptcy lawyer has joined the international law firm of Fulbright & Jaworski L.L.P.
Tue, 31 Jan 2012 15:24:00 -0800

EnerDel battery firm that won DOE grant files for bankruptcy
A New York-based battery company that won a 8 million federal grant filed for bankruptcy protection Thursday — as scrutiny in Congress over the Obama administration's green investments has grown.
Thu, 26 Jan 2012 18:38:00 -0800

Bankrupt Kodak asks to pull name from Oscars theater
NEW YORK (AFP) - The century-old photography trailblazer Eastman Kodak has filed a request to pull its name from the Los Angeles theater hosting the Oscars as part of bankruptcy proceedings launched last month.
Wed, 01 Feb 2012 23:46:44 -0800



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The Basics I know most of you know about bankruptcy, for those of you that do not, here are some basics. Generally, filing bankruptcy allows people who are having financial difficulties to wipe out their debts, which can provide them with a fresh financial start. There are several events that can take place to force people to take the path of filing for bankruptcy. Some events may include divorce, unemployment, lawsuits, foreclosures and credit card debt. Bankruptcy serves two main purposes. It gives creditors a fair share of the money that debtors can afford to pay back and it gives debtors a fresh start. There are two ways in which bankruptcy
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