Mint.com and WallStats.com have teamed up to create a tongue-in-cheek visual representation of some dangerous predatory lending products common in America today. The image is titled The Shaft: How Some Companies Prey on the Poor.
The graphic helps depict the reality of some benign-seeming products—and highlights how susceptible many lower-income Americans are to terrible credit products, [...]

Asia’s top airline has filed for court-led restructuring with the Tokyo District Court, the Wall Street Journal reports.
In light of this bankruptcy filing, Japan Airlines will seek to turn its unprofitable operation around with an injection of capital from a turnaround agency, the Enterprise Turnaround Initiative Corp. of Japan.
As a part of the restructuring, Japan [...]

It has been some time since a U.S. airline sought bankruptcy protection—more than a year—despite the difficulties that the industry has gone through. That trend was broken early last week when Mesa Air Group Inc. filed Chapter 11 bankruptcy, CNN Money reports.
Mesa Air, which operates regional flights on behalf of United Airlines, Delta Airlines and [...]

The difficult economy has been felt across all sectors, but small businesses may be the hardest hit, with consumer spending down and banks still reluctant to lend money, leading to a spike in small businesses filing bankruptcy.
According to the LA Times, nearly 19,000 small businesses filed for bankruptcy in California during the 12 months ended [...]

Because of the finance-sapping powers of the current recession, business bankruptcies in 2009 have been significantly higher than in the recent past. According to the American Bankruptcy Institute, more than 14,000 U.S. businesses have filed for bankruptcy protection each of the first three quarters of this year – and it’s unlikely that the numbers for [...]

On December 1st, the U.S. Supreme Court heard a case involving student loans and court deadlines in bankruptcy filings. The ruling on the case could be significant for filers of both Chapter 7 and Chapter 13 bankruptcy.
Background: Student Loans in Bankruptcy
Student loans are one of the few types of financial obligations (along with child support [...]

The Philadelphia-area swim club involved in a nationally publicized incident this summer after allegations of racial discrimination has filed for Chapter 7 bankruptcy due to legal fees from the incident, according to the Philadelphia Inquirer.
In July of this year, The Huntingdon Valley Swim Club revoked the membership contract of the Creative Steps day camp, days [...]