Consumer bankruptcy filings

--Consumer bankruptcy filings increased almost 23% from a year earlier -- representing nearly 69,000 people -- according to the American Bankruptcy Institute (ABI), a nonprofit research group whose members include bankruptcy attorneys, judges and lenders. Overall, consumer bankruptcy filings were up 44.76% during the first nine months of this year. --increasing number of homeowners filed for Chapter 13, instead of Chapt 7 which lowered from 70% to 60% share --one virtue: allow homeowner with regular income and who stays current with new bills to strech out these overdue pay over the course of chapter 13 plan that usually runs 3-5 years. --unique about proposed legislation: bankruptcy court can set the rate and principal amount can reset to the fair value, in the favor of homeowners at the expense of secondary market.