Wednesday, October 11, 2006

Bankruptcies likely to spike, experts warn

Richard Burnett reports for the Orlando Sun Sentinel that "many experts say it may be only a matter of time before going broke is thriving again, thanks largely to massive adjustable-rate-mortgage debt many took on during the housing boom." There's already signs that the growth has started. New cases in Florida's Middle District, for example, rose 31 percent from the first quarter to the second quarter this year. Last year, cases were up only 13 percent in that period.