Latest on the Bankruptcy Blog

It is hard to overstate how far banks will go in the pursuit of solvency and profitability. You can hardly blame them—they are institutions that would perish if it weren’t for their unshakeable devotion to the bottom line, and the US economy wouldn’t be what it is today (in a manner of speaking). Here are  … Read more

Homeowners under water on their mortgage have been scrambling to find the best financial relief option to help them stay out of foreclosure. A mortgage loan modification is one alternative that has provided many struggling homeowners with the help they need during tough times. However, as many have been fighting to stay out of bankruptcy  … Read more

The nation’s glut of upside down mortgages is a headache for policymakers and banks alike. With nowhere to go for banks, many have resorted to outright bullying and subtle pestering to coerce borrowers into paying. Many borrowers just can’t do it—there is nowhere to make more money. One program, Home Affordable Foreclosure Alternatives—HAFA—is another opportunity  … Read more

In general, co-signing on a credit card is not a good idea. If the first responsible party defaults on the debt, you will be held liable for repayment. However, there are times that offering up yourself as partially responsible for the line of credit is needed. Many first time borrowers, such as college students, may  … Read more

Picking up the pieces and rebuilding a life for you and your family after a foreclosure may seem impossible. You fought hard to keep your home, and it now feels like the world has caved in. What’s worse, the loss of your home was just the tip of the iceberg: you have dealt with collection  … Read more

Not all mortgage lenders are equal, and the same is true for applicants. The mortgage lending market can be competitive and setting yourself apart from other potential borrowers is a necessary component of the process. Fortunately, there are a few ways to stand out in a stack of applications and get the best deal when  … Read more

As college students are flooding college campuses, credit card companies are filling mailboxes with enticing offers for first time credit applicants. Many young adults today haven’t been taught how to use credit wisely and stay out of debt. With the new freedom of entering adulthood come many responsibilities first time borrowers may not be prepared  … Read more

The Offer in Compromise process is notoriously difficult. The chances of your OIC being accepted are comparable to getting into a top-brass college. The OIC process is a case-by-case process, where one misstep can blow your entire appeal to pieces. You should know a few not-so-fun facts before you begin the lengthy OIC process. Officially  … Read more

Many people seeking bankruptcy protection may not be aware of the amount of details required in the filing process. Because the bankruptcy court requires numerous details about your finances, filing for bankruptcy can be a cumbersome task. Unfortunately, many people end up committing bankruptcy fraud unknowingly, and risk losing their case or facing criminal charges.  … Read more

You may be eager to lock in a super low mortgage rate through refinancing your existing mortgage. You should be aware that there is a slew of refinancing fees that are common to refinancing despite how good your relationship is with your lender. Many of these fees will look familiar, as you were required to  … Read more