Bankruptcy Lawyers

New Mexico.

February 06, 2012

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

Special purpose entities in bankruptcy can be used
A business, usually a special-purpose entity, established to perform limited functions and to have one or a few primary creditors. This type of entity is sometimes established to protect lenders on large, complex projects, when the lender is to be paid solely or almost exclusively out of the money generated when the project becomes operational.

	Newsroom
	News about Bankruptcy in New Mexico and nationwide: Bankruptcy Filings Rose in March 2006 May 26, 2006 — The number of bankruptcy cases filed in federal courts rose 12.8 percent in the 12-month period ending March 31, 2006, according to ... Read more > Representative Adam Smith Will Support Bankruptcy Reform The Bankruptcy Reform Act of 1999 (H.R. 833) is expected to pass the House today. Under current law, bankruptcy filers may file under Chap... Read more > Bankruptcy Filings Continue to Increase,Records Broken for Total Filings and Non-Business Filings 2003 The number of bankruptcy petitions filed in federal courts rose 7.1 percent in the 12-month period ending March 31, 2003, according to statistics r... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Chapter Nine

Definition:
Bankruptcies of municipalities; only a few of these are filed each year; over the period 1980 through 1988 there averaged about 4 Chapter 9 filings per year.

Chapter Seven

Definition:
Liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. (Individuals may file Chapter 7 also.)

Debtor-in-possession

Definition:
The debtor which remains in control of operations; as opposed to having a trustee operate the company.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

New Mexico Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Alamogordo
Albuquerque
Anthony
Artesia
Aztec
Belen
Carlsbad
Clovis
Deming
Edgewood
Espanola
Farmington
Gallup

Hobbs
Las Cruces
Las Vegas
Los Alamos
Los Lunas
Portales
Rio Rancho
Roswell
Santa Fe
Shiprock
Silver City
Taos

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