Quantcast

Bankruptcies up 30% in March 2008

According to an article from Credit and Collections World and SourceMedia, the statistics are in for bankrupcty filings in Federal Courts for a 12 month period ending March 31, 2008. Bankruptcies exceeded 900,000, according to statistics released Tuesday by the Administrative Office of the U.S. Courts.

The 901,927 bankruptcy cases filed represent a 30% increase over the 695,575 cases filed during the 12 months ended March 31, 2007.

Also according to Credit and Collections/SourceMedia, “after an initial drop in bankruptcy filings following the October 17, 2005, implementation date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), filings have risen gradually. Calendar year 2007 filings saw a 38% increase”.

The majority of bankruptcy filings are filings involving predominantly consumer debts, which totaled 871,186 over the 12 months ended March 31, up 29% from 673,615 filings in the period ended March 31, 2007.

Business bankruptcies rose 40% to 30,741, from 21,960 filings in the 12 months ended March 31, 2007.

For the 12-month period ending March 31, 2008, filings rose for all bankruptcy chapters, except for Chapter 12.

Chapter 7 filings rose 36% to 560,015, compared to the 413,294 Chapter 7 filings in the 12-month period ending March 31, 2007.

Chapter 13 filings rose 21% to 334,551 from 276,649 a year ago.

Chapter 11 filings rose 34% to 6,971 from 5,199 a year ago.

Chapter 12 filings fell 8% to 343 from 372 filings for the 12 months ended March 2007, the court system administration reported.

The 12-month total exceeding 900,000 filings is consistent with the expectation by the American Bankruptcy Institute that 2008 will see filings exceed 1 million.

“With the Credit Crunch going on, it is no wonder that the Bankruptcy filings are increasing. Who knows how long this Credit Crunch will continue. Foreclosures are at an all time high right now”, according to Valeri A. James, President, Simple Solutions Credit Consulting.

Upcoming Training Session to Become a Certified Credit Consultant

Our upcoming Training Session will be held on June 5 through June 7, 2008 at the historical Hassayampa Inn in Prescott, Arizona. We expect to have a sold out training session as the Mortgage and Real Estate industry is struggling and loan officers and real estate agents are scrambling to find additional ways to provide an extra avenue of income to their household. “We are definitely seeing an increase of people who are or were in the Mortgage or Real Estate industry looking for a new career or to help consumers obtain their dream homes by improving their credit and raising their credit scores”, says Valeri A. James, President and Master Trainer of the Certified Credit Consultant Training Program. “With our 23 years of experience in helping consumers with Credit Repair, learning about their credit rights and options rather than filing bankruptcy, stopping collection agency harassment, credit identity theft, negotiating debt and more, we need more consultants to attend our training so that they too can help educate consumers and make a great income at the same time. We all have to help one another by educating and equipping ourselves with the proper information so that we can save thousands of dollars on our home loans, vehicle loans, and car/home insurance. So many people are being turned down for jobs, loans or even worse yet, paying too much interest on loans when they could have just excerisized their rights under the Fair Credit Reporting Act and cleaned up their credit”.

Congratulations to our new Certified Credit Consultants from April’s Training!

Congratulations to our New Certified Credit Consultants that attended our April training. Angel Salvador, and Sandra Carillo of California were just certified by Simple Solutions Credit Consulting and Training. They attended 3 extensive days in our business opportunity training and have sucessfully completed the training. Both Angel and Sandra have been in the Insurance and Real Estate field and are excited about helping their clients in improving their credit reports and raising their credit scores so they can obtain better interest rate loans, lower car insurance premiums, better jobs, etc. Congratulations to Angel and Sandra!

Welcome to our latest Certified Credit Consultants

Welcome to our latest Certified Credit Consultants, Brigette A. Soto and Anita J. Breutzmann! These both wonderful ladies have just completed the Simple Solutions Credit Consulting’s Certified Credit Consultant training program. Mrs. Soto said it best, “When I heard about the business opportunity to become a Certified Credit Consultant and that I would actually help people/consumers to become more knowledgeable about their credit, credit scores, their credit rights, and to be pro-active about their financial situation, I wanted to sign up right away”. Simple Solutions Credit Consulting’s President, Valeri A. James, is proud to have Mrs. Soto and Ms. Breutzmann become Certified Credit Consultants. “I have known Brigette Soto for 25 years and Anita Breutzmann for 15 years. These ladies will definitely do a wonderful job as honest and hard working consultants to help consumers by empowering them with the knowledge it takes to utilize the Federal Laws and get back their life by improving their financial situation. With our on-going support and training that we offer our Certified Credit Consultants, they will be better equipped to handle their clients questions and challenges for years to come. We don’t just train our consultants and push them out in their business to handle things on their own after training. We are with them every step of the way by keeping them updated with new changes in the industry/laws and provide on-going support with additional training periodically so they ARE the credit expert that consumers can feel confident in working with to help them get back on track with their credit and financial future”. You can reach Brigette Soto at: (760) 880-2788 and Anita Bruetzmann at: (623) 255-9968.

Copyright ©2001-2008 Simple Solutions Credit Consulting, Inc.- All Rights Reserved.
Website Design by Designveteran.com
Google PageRank Checking tool