Monthly Archives: November 2011
Total U.S. FY 2011 Bankruptcies Down 8 Percent over FY 2010; Filings Fall Across All Chapters
November 8, 2011 Alexandria, Va. — The total number of U.S. bankruptcies filed during fiscal year 2011 September 30, 2010-September 30, 2011 dropped 8 percent over fiscal year 2010 September 30, 2009-September 30, 2010, according to data released yesterday by the Administrative Office of the U.S. Courts. Total filings during fiscal year 2011 were 1,467,221, compared with 1,596,355 cases filed in fiscal year 2010. “The decline in consumer bankruptcies is the residue of a sustained debt deleveraging by U.S. households,” said ABI Executive Director Samuel J. Gerdano. Business filings decreased 18 percent for the nine-month period ending September 30, 2011, […]
Will Student Loans Be the Next Bubble to Burst?
First the dot.coms popped, then mortgages. Are student loans and higher education the next bubble, the latest investment craze inflating on borrowed money and misplaced faith it can never go bad?Some experts have raised the possibility. Last summer, Moody’s Analytics pronounced fears of an education spending bubble “not without merit.” Last spring, investor and PayPal founder Peter Thiel called attention to his claims of an education bubble by awarding two dozen young entrepreneurs $100,000 each NOT to attend college. Recent weeks have seen another spate of “bubble” headlines — student loan defaults up, tuition rising another 8.3 percent this year […]
Bar Pass Rate Up Slightly for First-Time Takers
The state Board of Law Examiners has released the list of successful candidates who took the July bar exam. Of the candidates who took the test for the first time and graduated from American Bar Association-accredited schools, 86.1 percent passed, an increase of 0.5 percent for the same group last year. The passing rate for first-time test takers who graduated from New York law schools, however, was 86.3 percent.Of all the 11,182 candidates who took the July exam, 69.2 percent passed. Last year, 70 percent of the record-breaking 11,557 test takers passed, compared with 72 percent in 1009 and 74.7 […]
