Chapter 7 Bankruptcy Filings, September 2009
Chapter 7 bankruptcy filings in the Riverside County Bankruptcy Courthouse for September, according to research done by a leading bankruptcy law firm, continue to trend upward in 2009.
The cities with the most Chapter 7 bankruptcies in Riverside County and San Bernardino County for September did not change from the top-ten in August:
Corona, Fontana, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, San Bernardino, Temecula, and Victorville.
Bankruptcy attorneys in the Inland Empire are also noticing a high number of filings from bankruptcy debtors residing in Chino, Chino Hills, Hemet, Hesperia, and Lake Elsinore.
Chapter 7 Bankrutpcy Filings For August 2009
Chapter 7 bankruptcy filings in the Riverside County Bankruptcy Courthouse for August 2009 reveal that the top ten cities in Riverside and San Bernardino County with the most Chapter 7 bankruptcies were:
Corona, Fontana, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, San Bernardino, Temecula, and Victorville.
Bankruptcy attorneys from Riverside and San Bernardino County are also witnessing a high number of filings from debtors residing in Chino, Chino Hills, Hemet, and Hesperia.
Obama’s New Housing Plan Doesn’t Address Bankruptcy Law
Although President Obama’s new housing plan may be “loaded with incentives for homeowners, mortgage servicers, lenders and banks” to modify the loans that are leading so many Riverside County residents to foreclosure and bankruptcy, what the plan does not do is address the so-called “cramdown” proposal — that Bankruptcy judges be allowed to modify home loans. This change in bankruptcy law would be a boon for the clients of Riverside County bankruptcy attorneys; it would help many Chapter 7 bankruptcy clients keep their homes. This is not only an issue for homes in Riverside and San Bernardino County areas like Corona and Chino, but also in higher income areas like Rancho Cucamonga, where homes with high mortgage payments have been forcing even high income earners into seeking a bankruptcy attorney or leading to foreclosure. The best that can be said about this housing plan, at least with regard to bankruptcy law, is that it does not “rule out” the possibility that a future bill might tackle this issue.
Riverside County has been waiting for such a bill for a long time and it looks like the wait shall continue…
Chapter 7 Bankruptcy Filings in Inland Empire for January 2009
The search for an Riverside County or San Bernardino bankruptcy attorney to file a Chapter 7 bankruptcy was made by hundreds of Inland Empire residents each and every month in 2008. This year looks like more of the same, and possibly much more of the same. In January 2009, there were at least 1,120 Riverside and San Bernardino County residents who required a bankruptcy attorney to file for Chapter 7 on their be half.
The Inland Empire cities with the most Chapter 7 bankruptcy filings for January, 2009 are as follows:
Corona, Fontana, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, San Bernardino, Temecula, and Victorville.
Other Riverside and San Bernardino County cities that also had a high number, especially considering their relative population, include Chino, Lake Elsinore, and Rialto.
Chapter 7 Bankruptcy Filings in Riverside County & San Bernardino County, December 2008
Bankruptcy lawyers are needed in many cities, but perhaps in some more than others.
The Riverside County and San Bernardino County cities with the most chapter 7 bankruptcy filings for the month of December, 2008, are as follows: Corona, Fontana, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, San Bernardino, Temecula, and Victorville.
Riverside County and San Bernardino cities that also had a high number, especially considering their relative population, include Chino, Chino Hills, Hemet, and Menifee.
The total number of Chapter 7 bankruptcy filings in the Riverside Bankruptcy Courthouse, for the month of December 2008 was 1,254.
Chrysler to Close Factories in Riverside County
From instantriverside.com:
“In a cost-cutting move, Chrysler announced Wednesday that it is halting production of vehicles at all of its factories. It is unclear if this will have any impact on dealerships at the Riverside Auto Center.
Moss Bros. Dodge and Riverside Chrysler Jeep sell Chrysler products at the Riverside Auto Center.
Here is the official statement issued by Chrysler LLC:
Due to the continued lack of consumer credit for the American car buyer and the resulting dramatic impact it has had on overall industry sales in the United States, Chrysler LLC announced that it will make significant adjustments to the production schedules of its manufacturing operations. In doing so, the Company will keep production and dealer inventory aligned with U.S. market demand.
In response, the Company confirmed that all Chrysler manufacturing operations will be idled at the end of the shift Friday, Dec. 19, and impacted employees will not return to work any sooner than Monday, Jan. 19, 2009.”
For Riverside County and San Bernardino County residents, this is another sign that the economic crisis is hitting main street as hard as wall street. Car companies like Chysler are surely being affected by the number of bankruptcy filings, as car loan debts are often high on the list of debt that is discharged when an individual files for Chapter 7 bankruptcy. From Temecula to Riverside, from Chino to Rancho Cucamonga, Inland Empire residents and businesses are feeling the pain. Whether it means discharging the debt in bankruptcy on a car loan that can’t be paid, or simply not being able to buy a new car, Christmas won’t be what it used to be for the customers or the employees of car dealerships this year.
Riverside County Restaurants Expanding Marketing Strategies.
The downturned economy is setting the perfect scene for a battle starring restaurants, food chains and small diners in Riverside County
Restaurants and other food joints are using different tactics to attract customers, keep the loyal ones, if it comes to it, to avoid layoffs and closings
Facing soaring ingredient prices and lack of customers, the food industry has been doing all it can to survive this recession. Employing tactics such as value deals, 2 x 1 coupons, smaller food portions, price increases and lunch service elimination, restaurants of all sizes in Riverside County and San Bernardino County are hoping this will be enough to avoid bankruptcy.
Some of the chains and restaurants that have implemented these tactics are Black Angus and The Daily Grill, which have eateries in Riverside, and Mimi’s Café in Temecula, Chino, Corona, and Fontana
None of these chains or restaurants have been forced into bankruptcy — yet. Riverside County and other Inland Empire residents are hoping it stays that way…
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