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U.S. Bankruptcy Filings Down But Texas Credit Union Lawyer Issues Alarm

Texas attorney says noncommercial filings could impact credit unions, particularly with potential fraud.

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Total bankruptcy filings in the U.S. may have decreased 12% in the first quarter of 2012, but a leading Texas bankruptcy lawyer says he is alarmed over noncommercial filings during the period impacting credit unions.

Commenting in the LoneStar Leaguer, the daily email bulletin of the Texas Credit Union League, Charles Williams, a principal at Dallas-based Blalack & Williams, noted there were 300,0000 noncommercial filings recorded in the first quarter based on statistics released earlier this month by the American Bankruptcy Institute.  

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