Bankruptcy Blog

Bankruptcy fraud is serious business and the courts do not tread on the issue lightly. While it is possible to unknowingly commit bankruptcy fraud by hiding assets or concealing information about finances, there are plenty of cases that involve purposeful acts of crime. A South Texas man and his wife have been convicted and sentenced [...]

The Hostess brand snack cake maker filed for Chapter 11 bankruptcy earlier this year and has since been working towards debt reorganization. Earlier plans for managing their near $945 million debts were driven away from employees in efforts to disrupt operations. However, issues surrounding pension and union obligations have surfaced and are now jeopardizing the [...]

When filing for bankruptcy you may have heard about a Trustee who will be involved in your case. This refers to a person who is appointed to represent the collective interest of your creditors during your bankruptcy case. However, their job is a bit more complex and has some important aspects that are reflected in [...]

Ally Financial Inc. has been struggling to keep its mortgage unit afloat for a while now.  After receiving a large government bailout just a few years ago, time is running out for repayment. As Ally Mortgage unit’s finances continue to dwindle, the company is seeking Chapter 11 bankruptcy in order to restructure and regain a [...]

Filing for bankruptcy is not meant to be a tool of disappointment, but in today’s economy many businesses are finding it difficult to maintain operations. In a competitive market, such as music storage and downloads, the margin for error is slim. As technology advances, companies are forced to either keep up or pack up. The [...]

There are many bankruptcy myths that circulate, often deterring people from experiencing the benefits the process has to offer. Misinformation is one of the worst offenders to the bankruptcy process and most people find themselves surprisingly pleased once they learn the truth behind some common misconceptions. Financially Irresponsible Most people hold the stigma that anyone [...]

LightSquared is a tech company who provides high speed wireless internet to customers around the U. S. After their service plans were thwarted by federal regulators the company has found themselves in financial trouble. Yesterday, LightSquared filed for Chapter 11 bankruptcy protection. High Speed Relief LightSquared Inc. is just one of several companies offering 4G [...]

Good credit may seem like a no-brainer for most people, but to some it can seem like an unreachable goal. Anyone who has experienced trouble with debt or bankruptcy knows that keeping your credit clean is a daily challenge, but one that will win in the end. Fighting For The Future If you have suffered [...]

If someone was to ask if whether or not you could afford to file bankruptcy, you might think it was a trick question. After all, bankruptcy is a tool for those who are financially insolvent and can’t afford to resolve their debts. While bankruptcy is designed to help those in financial hardship, not everyone can [...]

People often wonder why a Chapter 13 bankruptcy takes longer than a Chapter 7. Typically, a person filing for Chapter 7 can receive a debt discharge within 6 months; whereas a person in Chapter 13 may take up to five years for to have their debts discharged. Waiting For Relief Why does Chapter 13 take [...]