Bankruptcy Filings rose in Vermont
Bankruptcies in Vermont increased for the second consecutive year in 2002.
There are more than 1800 bankruptcies in U.S. Bankruptcy Court in Rutland, during the last year, representing an increase of 5 percent over the previous year.
The increase is still below the record year 1998, as more than 1900 cases have been reported in Vermont.
Most of the bankruptcies were under Chapter 7, which Filer to liquidate their debts. Vermont, 1600, Chapter 7 cases during the past year, including 69 companies were bankrupt.
Burlington lawyer Todd Taylor, handles, bankruptcies, the number of its clients were workers from IBM last year by the Essex Junction plant.
Taylor of the main reasons for bankruptcy are always the same: difficult economic periods and too much debt credit card.
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