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May 2012 Archives

Bankruptcy filings in D.C. area drop

In a bit of good news for the region, a recently released report shows that bankruptcy filings are down in the Washington area during the first four months of 2012. The report was issued by the American Bankruptcy Institute, an organization that tracks commercial and personal bankruptcy filings.

Million dollar mistake: Couple evicted from high-end home

A couple living in a Washington, D.C., suburb that has fought foreclosure for years has finally been evicted from their million-dollar estate, according to law enforcement. The couple, which faces personal bankruptcy problems, had not made a mortgage payment on the home since purchasing the property at the end of 2006.

'Octomom' out of money

Bankruptcy has many causes. People sometimes encounter financial difficulties because of illnesses, overspending or unemployment. Although many celebrities are relatively well-off, some have been beset by the same financial problems.

Lenders, colleges ignore Credit CARD Act provisions

College students have traditionally been prime targets for predatory lenders looking for an easy buck. These young people are often undereducated about financial planning, and they can be lured into credit card agreements. Even though new laws have been established to prevent these predatory practices, a new report suggests that credit card companies are still leading young people down a treacherous financial road that can end in personal bankruptcy.

Maryland experts expect deluge of foreclosure filings

A new report shows that mixed news is coming from the home foreclosure front. Although foreclosure filings are overall on the decline, more homes are entering the foreclosure process. Maryland is expected to be one of the hardest-hit states as more and more Americans face the threat of home foreclosure.

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