CIT Bankruptcy 5th Largest in US History

Will this ever end? The economy seems like it's in a funk. The patient is recovering from cancer, only to find out that it has heart problems. What's next? TERMINAL brain damage.

CIT files for bankruptcy as part of reorganization plan – Nov. 1, 2009

CIT files for 5th largest U.S. bankruptcy
Small business lender seeks court approval for a debt reorganization that has approval of bondholders.

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Steve - November 2, 2009 Reply

It is not Citibank that filed for bankruptcy; it is CIT that filed for bankruptcy. Get your facts straight.

Mike - November 2, 2009 Reply

Yes, you are right. Sorry for my mistake.

Russell: Disposable Medical Device - November 21, 2009 Reply

The worst part about this situation is that CIT is the biggest lender to small businesses in the country. This will certainly delay the supposed economic recovery for some time.

coon hounds - November 28, 2009 Reply

Wow!!It is really a great info on this topic with have a nice article.I hear it is very hard to file for the type of bankruptcy where they abolish all of your debt. However, what about the type of bankruptcy where you pay back some of your debt? If you file this type of bankruptcy, will you definitely get accepted, even if you make a high income?

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