Posts Tagged 'Bankruptcy'

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Types of bankruptcy

In our society today, revisions to the bankruptcy laws and changes in consumer attitude toward bankruptcy have fostered a climate in which individuals and businesses many times regard bankruptcy as a more plausible remedy for financial problems than disciplined financial management.

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The term bankruptcy comes from two Latin words and literally means “broken bench.” Under Roman law, creditors divided up the assets of a delinquent debtor, then broke the debtor's workbench as punishment and a warning to other indebted tradesmen.

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Foreclosures and repossessions

Consumer debt is at an all-time high. What's more, record numbers of consumers are filing for bankruptcy.  Sometimes when money is borrowed, lenders will require that loans be secured. Subsequ ...

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