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June 2011 Archives

Court denounces DOMA in same-sex joint bankruptcy filing

Bankruptcy is something that many people who are facing extreme debt or foreclosure consider. Under the Bankruptcy Code, individuals who are married are allowed to file for bankruptcy protection together. However, in a recent case, a legally married same-sex couple attempted to file for joint Chapter 13 bankruptcy after their finances were plagued by medical debt and unemployment, but they were rejected by the U.S. trustee's office.

Bankruptcy filings decline 10 percent in May

While the total number of bankruptcy filings is going down in many states, the number of filings is still higher than economists, lawmakers, business owners and consumers want them to be. For Washington D.C., a dramatic dip in filings has given the area a financial breather.

Mortgage lenders settle with foreclosed veterans

Bank of America and Morgan Stanley will pay $22 million to satisfy the U.S. Justice Department, which charged the large banks with wrongly foreclosing on the properties of 178 military personnel. The government says the banks' mortgage servicers did not obtain court orders before foreclosure proceedings were activated.

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