Chapter 9 bankruptcy or what is commonly called municipal bankruptcy allows cities and towns to restructure its finances in much the same way that a Chapter 11 bankruptcy allows a business to restructure its debts.

As contentious budget negotiations on Capitol Hill raise the specter of a possible government shutdown this month, federal court official say they are preparing contingency plans that include funding the courts only with collected fees and not congressional appropriations.

Some are suggesting that debtors skip the expense of working with a bankruptcy attorney and do a DIY bankruptcy filing Pro Se.

Debtors are given the choice between federal exemptions and local exemptions.
Among the many things to think about when considering bankruptcy, is “Which set of exemptions should you use?”  The book, Personal Bankruptcy For Dummies, speaks of the choice that debtors are faced with.
The book says:
“Although bankruptcy law is generally the province of the federal government, [...]

Some cities trimming law enforcement positions to reduce costs.
According to the Denton Record-Chronicle, The Denton City Council “is poised to adopt a $28 million budget for 2009-10, a figure that represents about 3 percent less in expenditures overall compared to the adopted 2008-09 budget.”  The City of Denton re-negotiated its health care insurance which resulted [...]

Years of unprofitability finally halts European discount carrier SkyEurope.
Imagine flying somewhere only to end up stranded at your destination, because the airline you used to get there suspended operations.  This scenario turned into a reality for some SkyEurope passengers.  The passengers were forced to buy tickets from other airlines in order to return home.
An article [...]