Bankruptcy Filings Up 25% Over Last Year, Many Consumers Struggling With Job Loss(Massachusetts)

The Patriot Ledger ^ | Jul 23, 2010 | By Jon Chesto

[Son House]

The most common bankruptcy filing is Chapter 7, which can completely erase many kinds of loans.

Which means, the creditors aren't getting paid for what they've done in legitimate business transactions, "up 25%", means 25% more business won't get the revenue they've worked for, they get a bankruptcy notice instead, recovery summer? Think not, Thank a Democrat! Great economics Congress, collectively you stink!

[Son House]

Example:

(the Real Housewives of New Jersey)
Six Reasons Why Teresa Giudice’s Bankruptcy Situation Is Appalling

http://blogs.babble.com/famecrawler/2010/07/23/six-reasons-why-teresa-giudices-bankruptcy-situation-is-appalling/

4) There are real people, real businesses getting screwed here in the process — because they won’t get paid. The Giudice’s are being let off the hook and won’t have to pay for products purchased and services rendered from legitimate business people who had faith they’d be paid. The couple owes more than $33,000 on various store credit cards, $85,000 for home repairs and $91,000 for materials used to build their new home. What about the hard workers who performed the repairs?

[pnh102]

Hope and change again.

[CommieCutter]

[massmike]

Obama-lite

"Together we can't"

[rovenstinez]

But. Just yesterday V.P. Biden was saying that the economy has recovered! Certainly must be the fault of the bloggers.

[MeneMeneTekelUpharsin]

Bump for reference.

[screaminsunshine]

Hope we change Presidents..soon.

[massmike]

But...but...but......democrats are for the working man!

[upchuck]

Dave Ramsey bump.

[Average Al]

So people voted for hope and change and they either had to file bankrupcty or they were screwed out of money in their business because somebody else had to. If that doesn’t motivate people to vote for a real change I don’t know what will!

[GailA]

And the Sen from Taxatusist dodges paying his fair share of taxes.

[Tolsti2]

Well they did replace drunk ted with a Republican. Even a moderate to slightly lib one like Brown is a massive improvement over ted or kerry.

[griswold3]

Perfect example of why small businesses are ‘pulling in their horns’. There is a serious problem with ‘loss of trust’ in this society. Right now the anger is directed toward the government. But quite a few are mad at the exact people that voted expecting ‘benefits and entitlements’. And they wonder where the jobs are!

[Average Al]

Yep, wait until the food police come after Heinz with a class action suit for making kids fat with their sugar heavy ketchup! That would dry up his sugar moma’s pockets. The pompus bit*h!

[SunkenCiv]

Richard Gottlieb, a bankruptcy lawyer in Boston, said high unemployment -- the state's jobless rate has been at 9 percent or above since September -- has made it tough for many people to make ends meet.

Aw, 9 percent, he's breakin' my heart. You know what creates jobs?!? When thousands of people living in overpriced homes in and around Boston refuse to pay their bills, declare bankruptcy, and cause banks to fail and be taken over by US taxpayers. Thanks Son House.

[ballplayer]

Relax folks according to Steny Hoyer Number two To Pelosi Yesterday speaking Before the Center for American Progress ,this is just the price we have to Pay to Build a New FOUNDATION of Great Humanitarian PROGRESSIVE policices which have Been so sucessful For Decades.
Oh yeah he also thanked John Podesta for doing a Great Job

[RockinRight]

Where’s the “unexpected” in the headline.

[RockinRight]

In many situations, the Giudice’s being a prime example, the bankruptcy is merely a legal formality, as based on what I’ve seen, the creditors won’t get paid regardless...I mean, on a 70k income with millions in debt what do you think is going to happen?

The real question is how the hell did they manage to rack up that much in the first place?

[ex-snook]

"So people voted for hope and change and they either had to file bankrupcty or they were screwed out of money in their business because somebody else had to. If that doesn’t motivate people to vote for a real change I don’t know what will!"

Wishful thinking, I think. Bad economic times do not a Republican victory make. From what solutions the GOP has put on the table, a change would be hope replacing hope.