US Bankruptcies to Rise 45% in 2009 reports credit insurer Euler Hermes ACI forecasts a 45% increase in bankruptcy filings in 2009. Banks are in danger as US business bankruptcies may be up sharply.


    The FDIC reports year over year charge-offs to commercial and industrial borrowers are up by $4.2 billion as of the end of the first quarter. Credit rating agency DBRS states "business bankruptcies surpassed the peak levels of the previous cycle last year, and there is little to suggest that business bankruptcies have reached their peak."

Debt buyers ignore discharge and get sued. What a surprise.

Loren Steffy of the Houston Chronicle wrote an article about a couple who have filed suit against several debt buyers who apparently ignored a Judge's discharge order. Although this blog is for Creditors, the whole notion implied in Steffy's well written article is that debt buyers who are so cavalier as to have complete disregard for a Federal Bankruptcy Judge's Order have thus far not been called to account.  This is unconscionable.

This case could be a big deal. I'll keep you posted.