Latest on the Bankruptcy Blog

Competition is fierce and many businesses are fighting a daily battle to keep their doors open. For many small businesses, staying afloat in this economy is proving to be an uphill battle. Unfortunately, many small businesses are finding themselves in over their heads in debt and creditors knocking at the door. Small businesses are at  … Read more

Many real estate agents have become advocates of another tool from President Obama’s Making Home Affordable program called Home Affordable Foreclosure Alternatives. It is designed to help delinquent or struggling mortgage borrowers short sell their home if they don’t quality for a mortgage modification through the Home Affordable Modification Program—HAMP. Many homeowners, at first glance,  … Read more

It is a common refrain: “Your credit score is vital to your life, your happiness, your continued prosperity.” Regardless of how much this makes someone sound like a broken record, it is so true. Unless you are a financial maverick or can suitably live under a rock, there is nothing more essential to your financial  … Read more

No one is safe from collection calls when you owe a creditor money. Being in debt is stressful and having a creditor breathing down your neck is the last thing you need when trying to repay your debts.  When you are significantly in debt your creditors may take drastic actions in attempt to collect their  … Read more

The answer is simple: Yes! We aren’t just talking about our pockets getting shallow in the traditional sense either, but literally. As the economy challenges us daily to maintain our budget, get out of debt and keep food on the table; it is also changing the way many businesses operate. Many manufacturing businesses, both national  … Read more

For troubled mortgage borrowers, it may not be so obvious as to when it is appropriate to negotiate for a forbearance agreement instead of a mortgage loan modification. As financial tools that can save borrowers from foreclosure, they do the same for the bank. The bank, weighing its options and intent on maximizing profitability, will  … Read more

Offer in compromise negotiations are notoriously difficult to argue and win. Key to successfully mitigating your debt is to accurately show you are in no position to pay back all of the debt you owe the IRS—now or in the near future—and proposing a reasonable collection potential that is acceptable. Determining the right reasonable collection  … Read more

In light of recent increases in consumer complaints over payday lending practices, the Federal Trade Commission has been tightening regulations over lenders.  Although regulations have been in place for years to protect consumers from scrupulous lending practices, the FTC is stepping up their watch and requiring new measures to be taken. Payday loans appeal to  … Read more

Jefferson, Alabama taxpayers are bracing themselves for the effects of their city filing the largest Chapter 9 bankruptcy in history. Jefferson filed for Chapter 9 bankruptcy protection late last month requesting help with debt reorganization. The municipality suffered increased debt over rebuilding costs after a devastating tornado, their over-reliance on insured bonds and internal corruption  … Read more

Everyone hates a foreclosure. Sellers, banks and even buyers often find themselves somehow at the end of a raw deal during every phase of a foreclosure. Even after the house is sold, sellers are often left with a load of new work, worries and problems in a foreclosure. Foreclosed homes come with baggage Even if  … Read more