Check out these great interactive maps of recent bankruptcy filings:
http://www.creditslips.org/creditslips/2008/04/bankruptcy-fili.html#more
“Higher incomes and assets mean there is more to protect in a bankruptcy filing.”
Hmm….If most of these higher income earning people have mortgages & other secured debts, what kind of bankruptcy protection will they be seeking?
And, if the BAPCPA of 2005 has the effect that it was intended to…will we see a lot more of these “higher income” people file for bankruptcy protection under chapter 13 if they are looking to keep their houses (threw a renegotiation process if possible)?
Ideas?
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