Latest on the Bankruptcy Blog

Creditors are known for their bullying ways when it comes to attempts to collect their money. They often harass people with phone calls, make threats, report negative information to credit agencies and have even garnished people’s wages. It is a situation all too familiar to some who have ended up with overdrawn accounts and delinquency  … Read more

What’s the deal with airline fees soaring higher each year? Not only is the cost of the ticket itself rising, but added fees for baggage is also climbing. We now have to pay extra for heavy luggage, carry-on bags, to occupy an aisle seat or whether a ticket was changed .  Passengers arrive at the  … Read more

The number of homes entering foreclosure has continued to rise for the past few years. Despite having an economy that is slowly recovering from the recession, many Americans are still facing the compounding financial pressures of the past few years. Homes in every state are suffering the fate of foreclosure, which accounts for nearly one-third  … Read more

It’s been nearly a year since Greece accepted a debt relief bailout of $147billion from the International Money Fund (IMF) and it appears as though Greece still doesn’t have its head above water. The bailout, which caused significant turmoil amongst nationals, was intended to provide an opportunity for Greece to repay its debt as the  … Read more

Schools around the country are facing lack of funds and budget cutbacks. Many public school districts are resorting to layoffs of staff and teachers to resolve their financial troubles.  In this wavering economy many private schools are now facing the same financial troubles that threaten the public school system. With the cost of education rising  … Read more

Summertime is one of the biggest seasons for retail stores and tourist destinations. People are buying clothes to keep them cool in the warm weather, and popular vacation spots are sold out of hotel and lodging accommodations. Families tend to overspend each year on vacation buying expensive hotels, fancy meals and lots of souvenirs. To  … Read more

The biggest misconception people have about filing for bankruptcy is that they will lose everything they own. In some cases, people may be required to sell some of their assets in order to pay creditors, but this is not always the case. Texas is one of a few states that have many property exemptions, which  … Read more

When you fall into debt there are many ways creditors can try to claim their money. Creditors often bombard debtors with harassing phone calls, threatening letters and negative hits to their credit report. But did you know that creditors have a legal right to claim your paycheck before you see a dime of it? It’s  … Read more

Over recent years, there have been some changes to bankruptcy laws, one of which requires anyone filing for bankruptcy to complete a credit counseling course. The 2005 Bankruptcy Abuse Prevention and Consumer Prevention Act mandates that individuals filing for bankruptcy complete a 90 minute course covering the risk factors for ending up in debt and  … Read more

Many people drowning in debt and defaulted credit payments look to every possible option to help pay their bills. Shifting balances between cards, opening new cards with zero interest offers and applying for additional or consolidation loans, are just some of the ways people try to reduce their debt. The stormy seas The lure of  … Read more