Bankruptcy trends provide useful information but fuel much speculation. Does a drop in bankruptcy filings indicate the economy has improved or that most people who needed to file have already done so? Does it mean that people are finding better income to pay their debts or that they are just able to borrow more now that the credit freeze has thawed out?
Monday, August 15, 2011
Monday, August 1, 2011
Most people who file for bankruptcy do so to get a discharge of their debts so they can start over financially. Debts fall into different categories under federal law which may or not be dischargeable. In many consumer cases, many debts are either clearly dischargeable or clearly not dischargeable, though some debts fall into gray areas.