Bankruptcy filings predicted on the rise - WALB.com, South Georgia News, Weather, Sports

Bankruptcy filings predicted on the rise

September 19, 2006

Albany -- Bankruptcy filings in South Georgia have dropped nearly sixty percent since a new federal law took effect last October. But it's predicted they'll soon rise again.

 Bankruptcy lawyer Walter Kelley says that's because people are being trapped by spiraling costs. The Bankruptcy Abuse Prevention Act is credited with lowering filings to below six thousand filings in South Georgia last year. But that trend may not last.

Chapter 12 Trustee Walter Kelley said "Higher interest rates, higher gas prices, layoffs, medical bills, skyrocketing medical bills. And people's wages and incomes have simply not kept up with these spiraling costs. "

Walter Kelley said more people are filing Chapter 7 bankruptcy, which demands some repayment for creditors.

feedback: news@walb.com?subject=bankruptcy

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • "Rabbitman" hosts third annual After School Extravaganza

    "Rabbitman" hosts third annual After School Extravaganza

    Sunday, May 28 2017 10:14 PM EDT2017-05-29 02:14:36 GMT
    (Source: WALB)(Source: WALB)

    A local business rewarded students after another successful school year.  Elijah Williams Jr., owner of Rabbitman Footwear, hosted his After School Extravaganza. It's a chance to celebrate students for their hard work during the school year.

    More >>

    A local business rewarded students after another successful school year.  Elijah Williams Jr., owner of Rabbitman Footwear, hosted his After School Extravaganza. It's a chance to celebrate students for their hard work during the school year.

    More >>
  • WATCH: Airman surprises sister at Mitchell Co. High graduation

    WATCH: Airman surprises sister at Mitchell Co. High graduation

    Sunday, May 28 2017 9:10 PM EDT2017-05-29 01:10:11 GMT
    (Source: Facebook)(Source: Facebook)

    A U.S. Airman pulled off the surprise of a lifetime for his sister this weekend. Jakeria Florence graduated from Mitchell County High School Friday night. Scarlette M Wimberly She did not think her brother, Airman 1st Class Jason Florence, would make it to her graduation. He's been stationed in Alaska for more than two years.

    More >>

    A U.S. Airman pulled off the surprise of a lifetime for his sister this weekend. Jakeria Florence graduated from Mitchell County High School Friday night. Scarlette M Wimberly She did not think her brother, Airman 1st Class Jason Florence, would make it to her graduation. He's been stationed in Alaska for more than two years.

    More >>
  • Rainfall Gauge

    Rainfall Gauge

    Today: 0.00": Monthly Total 3.83"; Normal for the Month 4.06"; Yearly Total 19.00"; -/+ Year to Date -0.93".

    More >>

    Today: 0.00": Monthly Total 3.83"; Normal for the Month 4.06"; Yearly Total 19.00"; -/+ Year to Date -0.93".

    More >>
Powered by Frankly