- Prized Dance Studio in Lower Manhattan Files for Bankruptcy Help (June 17, 2013)
- Famed Tech Investor Halsey Minor Files for Personal Bankruptcy (June 03, 2013)
- Leader of Arizona School District Files for Chapter 7 Bankruptcy (June 05, 2013)
- Study Says Cancer Patients More Likely File Bankruptcy (June 06, 2013)
- Investment Bank Ledgemont Capital Files for Chapter 7 Bankruptcy (June 05, 2013)
Bankruptcies in Maine reach five-year high
By Chris Kramer
December 01, 2010
Personal bankruptcies in Maine are expected to hit a five-year high after already climbing to 3,500 this year so far. Common reasons for filing include medical expenses, divorce, underemployment and job loss, according to the Maine Public Broadcasting Network.
One couple mentioned by the news source filed personal bankruptcy after falling behind on home equity and credit card payments. Such filings are reportedly common in Maine, according to one bankruptcy attorney.
"They're trying to get loan modifications and they've run through a lot of those programs and are coming out of the other side where they don't qualify," the attorney said of bankruptcy filers.
He also added that personal bankruptcy may create problems for the creditor as well as the debtor. Nevertheless, he believes personal bankruptcy is a better option than what some debtors do instead - stop using their phone and bank account, and get jobs that are paid in cash to avoid generating a paper trail.
Another bankruptcy attorney claims that loan delinquency and bankruptcy among Maine families is rarely caused by extravagant expenditures.
"If it's a choice between feeding family and educating kids and paying MasterCard, I'd not pay Master Card every time," he said.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.