Latest on the Bankruptcy Blog

Nationally, the foreclosure rate has skyrocketed in recent months. Overall, one in every 570 housing units received a foreclosure notification in the last month, which means that the national rate increased seven percent just from July to August. Realty Trac has compiled a list of the top four states in the United States for foreclosures.  … Read more

One myth associated with bankruptcy is that filing for bankruptcy will damage your credit. Although a bankruptcy may be listed on your credit for several years, many people who had bad credit before filing find that their credit is improved much easier after filing for bankruptcy. Why Is This? The fastest way to damage your  … Read more

When the recession first hit three years ago, the majority of foreclosures and bankruptcies fell on those who had overextended their finances by buying above their means and developers who over-invested their resources. Now, the burden has fallen on the middle class. At first, most middle-class Americans were able to pay their mortgages by cutting  … Read more

As a consumer, it is your responsibility to maintain timely payments on your debts. If you get behind on your payments of a secured debt, your creditor does have the right to take certain actions. However, you also have rights that could protect or resolve your asset from being repossessed. You vs. Them Secured debts  … Read more

In the last couple months, banks have significantly stepped up their assault against homeowners who are struggling to meet their mortgage payments, which leads to the expectation that the final quarter of 2011 will feature a new wave of foreclosures. For a while, last fall, foreclosures had begun to slow as banks began to take  … Read more

If you are significantly in debt and creditors have been calling, you know the pressures of repayment all too well. Many people that cannot afford to repay their debts ignore the situation, which only leaves them in worse shape than before. The biggest mistake you can make as a debtor is failing to take action.  … Read more

Those facing foreclosure have a unique challenge (1) how to manage their debts and keep their house and (2) how to prevent the threat of foreclosure in the future. The problem is that many people fail to look beyond a high mortgage payment to identify alternative sources of strain. Many Factors At Play People end  … Read more

With foreclosure being such a major problem in the United States today, it is tempting to jump at any offer of mortgage loan help. However, some of these offers to help homeowners avoid foreclosure are, actually, too good to be true. As more and more homeowners become desperate for a way to keep their homes,  … Read more

Who wouldn’t say “yes” to this question? However, there are instances in which people need help repaying their debts and have not been successful on their own. If you can afford to repay your debts through manageable monthly payments, Chapter 13 bankruptcy can provide many benefits that are  not found when attempting to get out  … Read more

Today, America has an estimated 10.9 million underwater homeowners, all of whom are desperate for a way to alleviate their financial burdens. With 30-year mortgage rates at 4.09 percent, the lowest rates in at least 50 years, it would seem like the perfect time to refinance. Yet, so many homeowners are sitting on property that  … Read more