Foreclosures are at an all time high; consumer debt is over $2.5 trillion dollars and the rise in consumer bankruptcies are a disturbing new trend. If you're thinking about filing, Personal Finance Editor Gerri Willis has some tips on what you need to know.
Federal regulators have worked out a plan to modify mortgage terms for troubled home borrowers holding loans from IndyMac Federal Bank, which the government seized last month after it became the largest regulated thrift to fail.
Economic weakness and food inflation are hurting casual dining restaurant chains, according to industry watchers, as families shun moderately-priced restaurants for cheaper alternatives.
CNN's Gerri Willis answers viewer's questions on credit unions, bankruptcy and unused scholarships.
The number of individuals filing for bankruptcy surged during the first-quarter as American households struggled to stay on top of debt, according to a report released Wednesday.
I wanted to get college funds started for the kids this year. Should I invest in a 529 plan or a Roth IRA? I thought you could take money out of your Roth for education and not be penalized. - James, Kansas.
The number of Americans filing for consumer bankruptcy increased by nearly 40 percent in 2007, according to the American Bankruptcy Institute.
A surge in bankruptcies last month may be a signal that the fallout from the nation's mortgage crisis is spreading, an expert said Wednesday.
One consumer group estimates that 600,000 foreclosures could be avoided over the next two years by making a simple change to the bankruptcy code.
American Home Mortgage Investment bounced property tax checks for some Maryland homeowners, local and state officials said Monday, and they have demanded an explanation from the bankrupt mortgage lender and servicer.
Foreclosures are at an all time high; consumer debt is over $2.5 trillion dollars and the rise in consumer bankruptcies are a disturbing new trend. If you're thinking about filing, Personal Finance Editor Gerri Willis has some tips on what you need to know.
Federal regulators have worked out a plan to modify mortgage terms for troubled home borrowers holding loans from IndyMac Federal Bank, which the government seized last month after it became the largest regulated thrift to fail.
Economic weakness and food inflation are hurting casual dining restaurant chains, according to industry watchers, as families shun moderately-priced restaurants for cheaper alternatives.
CNN's Gerri Willis answers viewer's questions on credit unions, bankruptcy and unused scholarships.
The number of individuals filing for bankruptcy surged during the first-quarter as American households struggled to stay on top of debt, according to a report released Wednesday.
I wanted to get college funds started for the kids this year. Should I invest in a 529 plan or a Roth IRA? I thought you could take money out of your Roth for education and not be penalized. - James, Kansas.
The number of Americans filing for consumer bankruptcy increased by nearly 40 percent in 2007, according to the American Bankruptcy Institute.
A surge in bankruptcies last month may be a signal that the fallout from the nation's mortgage crisis is spreading, an expert said Wednesday.
One consumer group estimates that 600,000 foreclosures could be avoided over the next two years by making a simple change to the bankruptcy code.
American Home Mortgage Investment bounced property tax checks for some Maryland homeowners, local and state officials said Monday, and they have demanded an explanation from the bankrupt mortgage lender and servicer.
Americans aged 55 and older are filing for bankruptcy at a faster rate than the general population, a study released Friday reveals.
The number Americans filing for bankruptcy tumbled to its lowest level in nearly two decades last year - in part because filings had surged in late 2005 before a new bankruptcy law went into effect.
After a series of deep pay and benefit cuts since 2004, Delta Air Line employees are about to get improved pay and cash bonuses.
Delta Air Lines management could agree to open the door to future deals in an effort to win crucial support in its effort to fight off a hostile takeover bid by US Airways Group, according to a published report.
The number of bankruptcy filings dropped significantly in 2006, a year after reforms were passed to amend U.S. bankruptcy law in hopes of curtailing fraud and abuse in the system.
Trying to fend off a hostile bid from US Airways Group, Delta Air Lines is close to presenting a reorganization plan to the bankruptcy court that will estimate its value as an independent company at between $10 billion to $12 billion, according to a published report.
US Airways Wednesday made a surprise $8 billion offer to buy its bigger rival Delta Air Lines, a bid that could spark a round of mergers leaving the United States with just a handful of major airlines.
When the new bankruptcy reform law went into effect a year ago, there was no shortage of nightmare predictions.
A federal judge blocked flight attendants from a strike at Northwest Airlines Friday afternoon, just hours before the union had said it would start to disrupt operations at the nation's No. 5 carrier.
A group representing retired pilots is asking for a delay in a bankruptcy court hearing into whether the airline can dump its pension plans on a federal agency, saying new legislation may allow the troubled airline to hang onto its retirement plan.
Flight attendants at Northwest Airlines won the right from a bankruptcy court judge to go on strike on Aug. 25 at the nation's No. 5 airline.
There has been progress in talks aimed at reaching a new labor agreement that could avoid a crippling strike at bankrupt auto parts maker Delphi and shutdown of operations at General Motors, according to a Delphi spokesman.
My neighbor is planning on installing an above-ground swimming pool. If, for some reason, there is a pool failure, and my house suffers water damage, will my homeowners insurance policy cover it or do I need flood insurance? -- Olivia
The head of the United Auto Workers union promised to work with bankrupt auto parts makers and troubled U.S. automakers to help turn around the struggling sector, but also said that the industry can not downsize itself to success.
Lawyers for Northwest Airlines and its flight attendants union were due to face off in bankruptcy court Friday over whether management at the nation's No. 5 airline can impose a contract rejected by 80 percent of the union's members.
The U.S. pension insurer has appealed a bankruptcy court decision allowing Delta Air Lines Inc. to implement a new pilots' contract that includes payments to pilots in case their pension plan is turned over to the agency.
Bankrupt auto parts maker Delphi is seeking permission to pay about $60 million in bonuses to its white-collar employees, at the same time it is trying to cut the pay of its union-represented workers by about 40 percent.
Racing against a Saturday deadline, Delta Air Lines and its pilots union continued talks Friday that could determine if the pilots go on strike and whether the nation's No. 2 air carrier stays in business.
Delta Air Lines and its pilots union could soon be flying into uncharted legal territory that could determine if the pilots go on strike and whether the nation's No. 2 air carrier stays in business.
General Motors is stockpiling parts in preparation for a possible strike at parts supplier Delphi, according to GM Chairman and CEO Rick Wagoner, but he conceded the company will not be able to operate if there is a prolonged job action there.
One of these days General Motors will have some good news. But it's tough to remember the last time it had one of those days.
The number of Americans filing for bankruptcy jumped 30 percent last year to the highest on record as debtors rushed to file petitions before new restrictions took effect, according to the Administrative Office of the U.S. Courts.
Northwest Airlines and its pilots union continued talks Wednesday to stop a bankruptcy court from sparking a perhaps fatal strike at the nation's No. 5 airline.
NEW YORK (CNN/Money) - Ninety-seven percent of consumers seeking to file for bankruptcy so far this year cannot afford to pay back their debts, according to a survey by the National Association of Consumer Bankruptcy Attorneys (NACBA).
A bankruptcy court Wednesday allowed Delta Air Lines Inc. to implement a severance plan for its senior managers, overruling objections by the troubled airline's pilots.
General Motors Corp. told investors Friday that it expects improved financial performance this year and further gains in 2007, but its stock fell further as executives at the embattled automaker still did not give any guidance on results or when it expects to return to profitability.
The number of consumer bankruptcy filings surged to a record high in 2005 amid changes to bankruptcy law, according to a survey released Wednesday.
UAL Corp., parent company of United Airlines , is considering paying Chief Executive Glenn Tilton $15 million in stock after the carrier emerges from bankruptcy, according to a media report Wednesday.
A survey of top auto executives around the globe released Wednesday found that three out of four are expecting another major bankruptcy -- like parts maker Delphi -- in the sector this year, and just more than half expect one of the major automakers will disappear through consolidation by 2008.
Northwest Airlines, which has already outsourced many jobs formerly performed by its mechanics union to outside contractors and replacement workers, is now looking to make deep cuts in the work done by its unionized flight attendants.
A new bankruptcy law goes into effect today, making it harder for consumers to prove that they should be allowed to clear their debts in what's known as a "fresh start" -- or Chapter 7 -- bankruptcy.
NEW YORK (CNN/Money) - Bankruptcy filings in the past few weeks have spiked to record highs as consumers rushed to file before a new, more stringent bankruptcy law takes effect on Monday, Oct. 17.
Declaring bankruptcy is about to get ugly. On October 17th, a new bankruptcy law will make it harder for people with incomes higher than the average to file for bankruptcy.
NEW YORK (CNN/Money) - The brutal distress of the nearly one million people affected by Hurricane Katrina may be compounded for those victims who could face bankruptcy in the coming months.
Delta Air Lines and Northwest Airlines could be tipped to filing for bankruptcy protections in September in order to be covered by an existing bankruptcy law rather than more restrictive legislation that will take effect in October, according to a published report.
Disgraced former energy giant Enron is once again flexing its lobbying muscle in Washington, trying to convince lawmakers to strike a provision that would allow a group of Western utility companies to get out of paying Enron big fees for terminating their contracts with the bankrupt firm, according to a report in the Houston Chronicle.
Dear Armchair Millionaire: After three years of struggling with the financial consequences of a divorce and a six-month period of unemployment, my sister finally declared bankruptcy a few weeks ago. Is there any advice you can offer her about getting back on her feet?
America West Holdings Corp. and bankrupt US Airways Group announced the two have reached a merger agreement Thursday.
NEW YORK (CNN/Money) - President Bush on Wednesday signed into law a bankruptcy reform bill that will make it harder for individuals to clear their debts through bankruptcy.
US Airways mistakenly sold round-trip flights for $1.86 to more than 1,000 customers over the weekend.
President Bush is soon expected to sign into law a bill that will make it difficult, if not impossible, for many consumers to wipe away their debts through bankruptcy.
NEW YORK (CNN/Money) - In a widely expected move, the House on Thursday approved a bankruptcy reform bill that has already passed the Senate.
NEW YORK (CNN/Money) - Those who are least able to pay their bills are likely to see a price hike in the coming months if they file for bankruptcy.
THE YEAR IS YOUNG, BUT ALREADY IT has been a most glorious season for business. True, the economy is a delicate flower, deficits are worrisome, and interest rates are stirring. But all that pales c...
NEW YORK (CNN/Money) - If you were thinking about filing for bankruptcy to clear your debts, you might think twice ... or act twice as quickly.
The Senate on Wednesday rebuffed a Democratic attempt to provide senior homeowners special federal protection from a proposed law making it harder for people to erase their debts in bankruptcy.
Dear Armchair Millionaire: In the last six months alone, I've found out about four different friends and family members who've declared bankruptcy. It seems everyone is doing it! What are we coming to as a country?
NEW YORK (CNN/Money) - We all make money mistakes. But there are mistakes and then there are absurd, loopy, what-were-you-thinking mistakes.
Delta Air Lines' pilots union said early Thursday it had reached a tentative agreement with the airline to cut flight crew wages by nearly a third, saving the airline about $1 billion annually and giving it a chance to stay out of bankruptcy court.
Bankrupt airline US Airways announced Friday it reached a tentative concession deal with union negotiators for its pilots that will save the company about $300 million a year in labor costs.
Investors will be keeping one eye on oil prices and another on corporate earnings as Wall Street gets back to work Tuesday after a long holiday weekend.
MCI agreed to pay the federal government $27 million to settle claims it defrauded the General Services Administration since 1999, according to the Justice Department.
Boosters of Memphis will tell you that in their town, compared with the rest of the United States, the music's sweeter, the barbecue's smokier, and the unemployment rate's lower. What they won't br...
In May, I went to a Toyota dealership in Marina Del Ray to purchase a car," says soft- spoken Theresa Witt, 50, sitting at her cluttered kitchen table with a mug of coffee in hand. "They had a huge...
Unmanageable debt was once a subject fit for Dickens -- starving children, the workhouse, unmarked graves. Today it's increasingly grist for Robin Leach -- at its worst, a quickie bankruptcy, forgi...
Hot off the printer attached to our Nexis database is a news story from Xinhua, the Chinese news service. The story gleefully notes that one adult Australian in 1,000 went bankrupt in the past year...
Believe it or not, over the past decade when the economy was growing and unemployment was relatively low, Americans declared bankruptcy at a rate four times greater than during the Depression. Pers...
We were under the impression that American banks had already made every imaginable kind of bad loan there was to make, and that they now had nothing to worry about defaultwise except Third World de...
Three years ago, Leslie Hamilton of Boston, then 27, went on a diet and lost 70 pounds. As a result, she recalls, ''I had no clothes that fit.'' So Hamilton began a giddy wardrobe-buying spree. Pre...
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