Bankruptcy filings drop, giving hope of recovering economy
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WASHINGTON -- In another promising sign of economic recovery, the torrid pace of personal and business bankruptcies slowed during the third quarter. |
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Latest News
Bankruptcies soared 32% in 2009
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A 'perfect storm' sends filings up to highest level since '05 reform Everyone from retirees who can't afford to live on Social Security, to baby boomers who were downsized, to college graduates who can't find work, to homeowners who drained the equity from their homes helped push 2009 personal bankruptcy filings up by nearly one-third over the previous year. |
Business Bankruptcies Rise More Than Individuals
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Chapter 11 bankruptcy filings by U.S. businesses surged 50 percent last year, outpacing the increase for individuals. |
Bankruptcy filings in state up 32% over past year
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There were 2,477 bankruptcy filings in Washington state last month, up 32 percent from the previous November. |
Bond Rally Aside, It’s Still A Bull Market For Bankruptcy Firms
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Yield-hungry investors have driven a robust rally in junk bonds this year, allowing many weak companies to avoid or postpone appearances in bankruptcy court by refinanc- ing their debt at attractive rates. |
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