AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Minnesotans rush to file for bankruptcy.
Byline: Sheryl Jean
Oct. 16--On Thursday and Friday, more Minnesotans filed for personal bankruptcy protection than filed in any month last year. The rush is expected to continue through the weekend, as petitions pour in electronically.
The frantic race to file before the federal bankruptcy law changes at midnight tonight is fueled by one part misinformation and one part reasonable concern, as consumers face more hurdles in their attempts to erase their debt.
Goaded by misleading TV ads, some people have filed for bankruptcy under the mistaken impression that it such protection would soon cease to exist. The new law, which is designed to curb abusive bankruptcy filings, does make it more difficult for consumers to wipe out their debts under Chapter 7 bankruptcy and forces more of them to file under Chapter 13 and repay some of their debt.
But whatever the reason, Minnesotans are filing Chapter 7 and 13 at a blistering pace, obliterating previous records. Minnesota personal bankruptcies jumped about 55 percent as of about 4 p.m. Friday, compared with a year ago. The 23,152 cases exceed all previous annual filings for Minnesota.
The sharp spike in filings in the state also has exceeded…
- New law tightens Chapter 11 rules.
- News wire article from: Saint Paul Pioneer Press (St. Paul, MN) May 17, 2005 700+ words
...being extended from 120 days to 180. -- More Chapter 7 -- The new law expands the grounds on which the court can convert a case from Chapter 11 to Chapter 7. The new law requires a case to be converted under certain...
- Tougher test for bankruptcy: new law makes filing Chapter 7 more costly and...
- Magazine article from: Black Enterprise Monroe, Melissa S. November 1, 2005 700+ words
...many who would file for Chapter 7 bankruptcy to instead file for Chapter 13 bankruptcy and commit...card and other debt, the new law places more pressure on...bankruptcy filings are Chapter 7. the new law uses a means test to determine...
- Grove music school officials file for Chapter 11, protest new law. (Grove...
- Magazine article from: Los Angeles Business Journal August 26, 1991 700+ words
Grove music school officials file for Chapter 11, protest new law The administrator of Grove School of Music Inc. last...recession, filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code Aug. 15, listing...
- NALDP Releases First Commercially Available Publication on How to Prepare and...
- News wire article from: The America's Intelligence Wire October 17, 2005 700+ words
...preparing to file for Chapter 7 bankruptcy and...passed a sweeping new law, and consumers have...questions about the new law and are interested...themselves when filing for Chapter 7 bankruptcy...consumers to file for Chapter 7 and has placed...time required by the new ...
- Massachusetts enacts new law, Chapter 111N "pharmaceutical and medical device...
- News wire article from: Mondaq Business Briefing November 6, 2008 700+ words
...Health Care," (enacted as Chapter 305 of the Acts of 2008...14 of the Act contains a new Chapter 111N, Pharmaceutical and Medical...Prohibited Conduct Under The Code Chapter 111N sets forth a range of...Conduct Under The Code Under the new law many common activities are...
- Consumers Beware: New Law Could Cost You Money, Says Florida Chapter/American...
- Press release article from: PR Newswire October 8, 1998 700+ words
...8 /PRNewswire/ -- A new law that went into effect on...according to the Florida Chapter/American Society of Landscape...Architects (FC/ASLA). The new law removes important state...major concerns about the new law and how it might impact...
- New law could result in more liquidations; Bankruptcy act applies to Chapter...
- Newspaper article from: Crain's Chicago Business KLEIN, SARAH A. July 4, 2005 700+ words
...bankruptcy lawyers have been buzzing about changes the law makes to Chapter 11 reorganizations. Many of those experts say the changes...Chicago's Jenner & Block LLP. Vendors keep more money The new law makes it easier for vendors to keep payments made by companies...
- New Law May Curb Foreign Opportunities in Russian Upstream.(proposed new laws)
- Newspaper article from: The Oil Daily July 14, 2004 700+ words
...auctions, Stepankov said. He added, however, that the chapter of the new law on subsoil usage in Russia is still being developed...government plans to submit the final draft of the new law on subsoil usage to the Duma by the end of the year...
- Barricades: Russia Mulls New Law To Restrict Foreign Influx.
- Newspaper article from: NEFTE Compass July 14, 2004 700+ words
...auctions, Stepankov said. He added, however, that the chapter of the new law on subsoil usage in Russia is still being developed...government plans to submit the final draft of the new law on subsoil usage to the Duma by the end of the year...
- For Epiq, new law a wash.
- News wire article from: Kansas City Star (Kansas City, MO) August 7, 2005 700+ words
...said that even if the new law means fewer Chapter 7 cases, it's likely...shunted from Chapter 7 into Chapter 13 under the new law are likely to be low...will still qualify for Chapter 7 under the new law." But Heckmann, who...
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA
The AccessMyLibrary advertising network includes:
