A recent posting on the bankruptcy blog Credit Slips asks this intriguing question: why, when delinquent consumer debts are at historical highs, are we not seeing more personal bankruptcy filings? To contextualize this question a little, here’s some background:

In 2005, a new bankruptcy law (the Bankruptcy Abuse Prevention and Consumer Protection Act, or BAPCPA) took [...]

The recent experience of a woman scammed by a rogue debt settlement firm provides a cautionary tale about these controversial debt services.
According to the St. Louis Post-Dispatch, a Missouri woman recently paid a debt settlement firm an upfront fee of $1,500 to enlist their services. The end result of their efforts was unsettling, though not [...]

With personal bankruptcy filings on pace to top 1.6 million in 2010 (perhaps the highest levels since the Bankruptcy Abuse Prevention and Consumer Protection Act took effect in 2005), it may come as a surprise that many Americans in dire financial straits are not filing for bankruptcy.
But that’s exactly what the case may be, according [...]

The Agriculture Department has reportedly launched a new campaign aimed at reducing the stigma associated with using food stamps to purchase food. It includes the posting of signs at grocery stores that read “We Welcome SNAP Benefits.”
SNAP, which stands for Supplemental Nutrition Assistance Program, is the new name of what were previously known as “food [...]

The question of whether or not to borrow money to make a purchase to a simple formula: borrow money to buy things that go up in value.
It’s no secret that Americans have a lot of consumer debt – that’s why so many of us are underwater on our mortgages and why record numbers have filed [...]

A recent article from the San Francisco Chronicle discusses a study of hundreds of bankruptcy filings and found that many bankruptcy filers had certain habits in common. If you’re recovering from a personal bankruptcy filing or trying to get your finances on track, these behaviors should act as warning signs that you may not be [...]

A provision in the 2005 bankruptcy law that limits the advice bankruptcy attorneys may give their clients is not a violation of the First Amendment, the Supreme Court ruled this week.
Bankruptcy attorneys are prohibited from advising potential bankruptcy filers to take on more debt leading up to their case, as it may lead to bankruptcy [...]