Latest on the Bankruptcy Blog

In Nevada, banks were recently accused in court of acting in “bad faith,” when they refused to negotiate or accept new conditions on a loan agreement. Another suit, brought against Bank of America, claims the megabank accepted government incentives for helping their debt-ridden clients, only to renege on those promises later. Borrowers claim that banks,  … Read more

The bankruptcy process is riddled with many documents, meetings and steps that must be completed in order to obtain a debt discharge. The initial step in the bankruptcy process is to complete a bankruptcy petition, which lists all of the debts, assets, income and expenses. The petition, along with several other schedules and documents, outline  … Read more

Concerns over the fate of the U.S. economy have become a trending topic in recent months. With the debt ceiling debate raising fears, last week’s dual party compromise brought a minor sense of relief among Americans.  Since President Obama signed the budget agreement, many have been anxiously awaiting the next step to see how the  … Read more

Which is better? It depends. Generally speaking, a 15 year fixed has a lower rate than the 30 year fixed. The drawback of course is that the borrower has half the time to pay it off and the payments are higher. If you experience a financial setback, a 15 year mortgage payment is going to  … Read more

Improving your credit score starts by taking stock of your entire financial life. Ask yourself first, “What loans or credit cards have the highest monthly interest rates? What percentage of my budget can afford to put towards paying down debt?” It should be your priority to pay down your debt, first, before improving your credit  … Read more

Low mortgage rates aren’t enough to boost new home sales, say economists. There are insidious factors to blame for sluggish growth in the housing industry: national home foreclosure forecasts and high unemployment. The net effects of the housing crisis in 2008 persist. New and old neighborhoods and home developments continue to be subject to the  … Read more

Car leasing can provide more advantages than buying a car in certain situations. If you don’t have enough money for a down payment, or maintenance costs if the warranty runs out, leasing may be a good option for you. Leasing is also better for those who have a less than stellar credit standing.  In cases  … Read more

When seeking bankruptcy protection there are two potential outcomes you should know about. You may have your case discharged, in which you would be resolved of your debt liability. Having your debts discharged through a Chapter 7 bankruptcy eliminates your debts and requires your creditor to erase your debt balance. Your account standing will no  … Read more

According to cnn.com, home prices have dipped another 4.5% in 20 major cities around the United States. Obviously, this continues to leave many home “owners” upside down on their homes and face the potential of foreclosure. Many have opted to dump the properties, either by sale or default—many wonder if this is the solution for  … Read more

You have probably heard mixed reviews on the issue of leasing a car versus buying. There are plenty of people who will tell you buying a car is the worst “investment” you can make; while others say leasing a car is wasting money on an item that could be an asset.  So, is leasing ever  … Read more