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BUSINESS
July 13, 1992
A previous issue of MBW incorrectly characterized a court filing. Butler Video has not filed for bankruptcy.The Sun regrets the error.Henry Peterson, 10012 Gunridge Circle, Kingsville. Nursing Aassistant filed for Chapter 13. Assets and liabilities: $100,000- $499,000.Melvyn D. Patterson (Patterson Paving & Construction Co.), 71 Hornberger Lane, Perryville. Construction business filed for Chapter 11. Assets and liabilities: $100,000-$499,999.July 6Entertainment Concepts Ltd. (The Rage), 32 S. Calvert St., Baltimore.
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NEWS
By EILEEN AMBROSE and EILEEN AMBROSE,SUN REPORTER | April 17, 2006
Six months to the day after a sweeping new bankruptcy law was put in place to reduce the number of cases, consumer filings appear to have bottomed out and are again climbing, with some experts predicting the number of filers will return to previous levels in a year or so. Additionally, pre-bankruptcy credit counseling -- one of the more controversial requirements of the new law -- appears to have little impact on steering people away from bankruptcy....
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BUSINESS
September 13, 1999
Recent filings in the United States Bankruptcy Court for the District of Maryland, Baltimore City:Sept. 9Deborah Lou Fenning, 1109 Harbor Way, Churchton, a consultant, filed under Chapter 13. Assets: $60,190; Liabilities: $62,363.76Mabco Inc., 233 S. Main St., Mount Airy, filed under Chapter 7. Principal: A. Reid Allison, president. Assets: more than $100,000; Liabilities: more than $550,000DefinitionsThese are the most common types of filings under the United States Bankruptcy Code:Chapter 7 -- Liquidation.
BUSINESS
By EILEEN AMBROSE | October 9, 2005
No longer able to keep up with credit-card bills, Ethel Elliott recently joined thousands of Marylanders rushing to file for bankruptcy before a new law kicks in next week that will make it harder to erase debts. The 78-year-old widow lives on a fixed income in a Baltimore County trailer park, where she cares for a 45-year-old daughter who suffered a stroke at the age of 3. By filing for bankruptcy, Elliott seeks to wipe out about $33,000 in card debt, most of it accrued over the years for medication and other living expenses, she said.
BUSINESS
April 10, 2000
April 3 Joseph Dominic DeAngelis, 5041 Bridgeford Circle, Rosedale, a self-employed individual t/a Joseph D. DeAngelis Electrical Contractors, filed for an adjustment of debts under Chapter 13. Assets: $131,300; liabilities: $188,710 April 4 Barry and Carol L. Hoffman, 5005 Nasawango Road, Snow Hill, pest control service operators, jointly filed for adjustment of debts under Chapter 13. Assets: $134,004; liabilities: $158,663 Scott Stangle, 514 Bay...
BUSINESS
August 14, 2000
Aug.3 Woo C. Jung, 311 Lindera Court, Glen Burnie, a self-employed individual, filed for an adjustment of debts under Chapter 13. Assets: more than $50,000; liabilities: at least $12,000 Abbreviations: a.k.a.: also known as; c/o: care of; d/b/a: doing business as; t/a: trading as; n/a: not available; H/C: Holding Company; LLC: Limited Liability Company; L/P: Limited Partnership; J/V: Joint Venture; P/ A: Professional Association; P/C: Professional Corporation Definitions The most common types of filings under the U.S. Bankruptcy Code: Chapter 7: Liquidation.
BUSINESS
May 1, 2000
April 24 Baltimore Steel Storage & Warehouse Inc., Bel Air, filed under Chapter 7. Principal: Michael G. Savakinas. Assets: under $50,000; Liabilities: more than $100,000. April 26 Antonio Eddie Williams, 4104 Ridgewood Road, Baltimore, a self-employed individual, filed for an adjustment of debt under Chapter 13. Assets: under $50,000; Liabilities: at least $7,000. Abbreviations a.k.a.: also known as; c/o: care of; d/b/a: doing business as; t/a: trading as; n/a: not available; H/C: Holding Company; LLC: Limited Liability Company; L/P: Limited Partnership; J/V: Joint Venture; P/A: Professional Association; P/C: Professional Corporation.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | July 13, 2005
AmeriDebt Inc. founder Andris Pukke has filed for personal bankruptcy protection, a move that could mean there will be less money available to consumers claiming to have been burned by his Maryland-based credit-counseling operation. A bankruptcy filing typically puts an immediate hold on lawsuits against the filer. But the Federal Trade Commission, which has been pursuing Pukke through the courts on behalf of consumers since late 2003, said such a stay doesn't apply to its case. "Congress didn't want bankruptcy to be a safe haven for wrongdoers," said Jeanne M. Crouse, the FTC's lead bankruptcy counsel in the agency's case against AmeriDebt, which was settled this year.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | April 14, 2005
Given all the hype that the nation's bankruptcy system is poised for its most extensive overhaul in 27 years, many experts are sure that some things won't change. "The question is how many families are in financial difficulty, and the bill won't change that one way or another," said Edward J. Janger, a professor at Brooklyn Law School. Illness, divorce and job loss will remain the primary reasons behind bankruptcy filings, experts agree. Ultimately, the legislation designed to make it more difficult for consumers to walk away from their debts might not even reduce the number of personal bankruptcies, which reached 1.56 million last year.
NEWS
By M. William Salganik and M. William Salganik,SUN STAFF | March 11, 2005
Soon, even bankruptcy could be harder to afford. That's one of the lesser-known but broader changes that local lawyers and trustees anticipate from changes in the federal bankruptcy laws, approved last evening in the U.S. Senate and expected to receive final passage as early as next month. The legislation, part of the legal-system revisions desired by President Bush, passed the Senate 74-25 with support from 18 Democrats. It's the largest overhaul of bankruptcy laws in more than a quarter-century Overall, the changes in the law will make it more difficult for people to walk away from their debts and are expected to force more to work out partial payment plans in bankruptcy court.
BUSINESS
By COX NEWS SERVICE | March 1, 2005
WASHINGTON - The Senate opened debate yesterday on a bill that could make it harder for tens of thousands of consumers to use bankruptcy to erase their debts. The bill would also make it harder for wealthy debtors in some states, including Florida and Texas, to use generous homestead exemptions to shield assets from creditors. Banks and credit card companies say an overhaul of bankruptcy laws is needed to prevent abuses, but consumer groups say the proposed changes would deprive many families of a valuable safety net. Estimates of the number of bankruptcy filers who would be affected range from 3 percent to 10 percent.
BUSINESS
By JULIE CLAIRE DIOP | June 27, 2004
A BAD TURN in life can send someone quickly into a black hole of debt. Although bankruptcy should be looked at as a last resort, sometimes Chapter 7 or Chapter 13 protection is a debtor's best chance of recovery. More than 1.6 million people filed for personal bankruptcy in 2003, a 5.6 percent increase from 2002 and double the number of filings a decade ago, according to the American Bankruptcy Institute. A layoff, poor budgeting or a medical emergency are common reasons people fall into financial distress, said David Johnson at the Consumer Credit Counseling Service of Los Angeles.
BUSINESS
By Liz Pulliam Weston and Liz Pulliam Weston,SPECIAL TO THE SUN | April 20, 2003
Five years ago, a lawyer talked my husband and me into filing a Chapter 13 bankruptcy, saying it would give us a "fresh start." The filing required us to pay off most of our debts in three to five years. Two years after filing, however, we refinanced our house, used some of the proceeds to pay off our debts and got our bankruptcy discharged. We're now trying to clean up our credit report, but we've found that some of the accounts that were discharged in the bankruptcy are still not listed as paid off on our credit report.
BUSINESS
By Liz Pulliam Weston and Liz Pulliam Weston,SPECIAL TO THE SUN | October 27, 2002
I bought my house four years ago for $178,000. I borrowed $150,000 and now have a second mortgage for $26,000, as well as credit card debt. With all this debt, my husband has to work a second job to pay all our bills. If I sell the house and pay off the mortgages and the credit cards, I can walk away free from debt. I would want to purchase another home, though, and starting out with virtually no down payment would be tough. As an alternative, I am considering a Chapter 13 bankruptcy filing to wipe out my debt and stay in my house.
BUSINESS
By Eileen Ambrose | February 24, 2002
LAST year, a record number of people sought a financial fresh start. Personal bankruptcies, which had been declining for two years, soared to 1.45 million cases. While bankruptcy helps those overwhelmed by debt to start over, it's not an immediate clean slate. Once you file for bankruptcy, it may take about five years of paying bills on time to rebuild a credit history that makes you eligible for the most favorable lending rates. Until then, you still will be offered credit, but at high rates or exorbitant fees on cards, experts said.
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