BankruptcyAccess.com

…has become more expensive according to this article in the

Wall Street Journal:

http://online.wsj.com/article/SB1217473

It’s not suprising, really.

After The BPACPA of 2005, lawyers have to do more work, so it shouldn’t come as any big surprise that fees have increased.

This article follows up on the Chapter 13 vs. Chapter 7 article that was posted a few days ago.

http://www.jacksonvilleprogress.com/local

It describes how debts are generally discharged in a Chapter 7 proceeding vs. how debts are often paid back slowly in a Chapter 13 proceeding.

And, after the 2005 BPACPA, apparently more people are filing for Chapter 13 protection.

Though, from what I’ve read, a lot of bankruptcies are still Chapter 7’s because the majority of debtors filing for bankruptcy protection are still ‘no asset’ cases.

“When a person files a Chapter 7, their large unsecured debts, generally credit card debt, is discharged usually within 90 days of filing,” he said. “With a Chapter 13 case, which usually includes foreclosures of homes, a person pays a certain payment for 36 to 60 months to the creditors, but there is no discharge of debt.”

Check it out if you are thinking about filing for for bankruptcy:

http://www.jacksonvilleprogress.com/local/

Read this:

“…of this year, a 42 percent increase over the first six months of 2007…”

Apparently Utah is seeing a large increase in bankruptcy filings also, much like many other states.

Click here to read the article:

http://www.sltrib.com/ci_9831640?IADID

It cites high debt levels that are combining with falling home values to produce the increase in bankruptcy filings.

Utah has great skiing though.