Latest on the Bankruptcy Blog

We have been hearing for weeks about the financial trouble Solyndra Inc. has been facing. As a leading American manufacturer of solar technology, the company has been troubled from the beginning. Between the high costs for product production and unmatched competition from Chinese manufacturing, Solyndra and many similar companies have been fighting to stay in  … Read more

Because these two terms are often are often used to describe the process of debt relief, many people assume they are the same thing. Debt settlement and debt negotiation are actually very different. Deciding which one is right for you is mostly a matter of your ability to earn income.       Debt negotiation  … Read more

It is no secret our economy is in hot water. Between foreclosures, personal debt burdens and the number of bankruptcy filings hitting all time highs, many Americans are left to wonder if things could get any worse.  Despite the answer to that question being “of course,” we can find comfort in knowing that finding a  … Read more

Today’s housing market is currently in a period of prolonged decline and foreclosures have hit all time highs. In many areas home value has stabilized, but failure to read the writing on the wall can be an expensive proposition, leaving you without a refinance and poorer than when you started. Get an appraisal before the  … Read more

The USPS has been experiencing financial challenges for years now. The advancement of technology has reduced the need for paper and pen mail, and the USPS has had to increase consumer costs in efforts to stay profitable. With so many people depending on postal services to transport mail each day, the threat of bankruptcy puts  … Read more

There really is no such thing as a non-monetary cost in a mortgage loan modification. The bottom line is that a loan modification reduces a lender’s profitability. This is the very last thing any lender wants, and contradicts the whole reason they are in business at all! There are, however, many indirect costs that result  … Read more

If you are financially able to repay your debts, consider yourself lucky. Many people are experiencing extreme  financial hardship that leaves them without the ability to repay their debts, putting them at risk of foreclosure or bankruptcy. Repaying your debts through a debt collector can provide many benefits to your financial situation, however, you should  … Read more

An active contingent status on a short sale designates that that home has received an offer from a buyer and the seller has accepted. Buyer and seller are awaiting the approval of the bank to finish the transaction. The finalization of the sale is ‘contingent’ on the bank’s approval. The active contingent part of a  … Read more

Unfortunately, tax debt is becoming a common source for the debt burden of many families. Unpaid taxes can easily result in penalty fees, wage garnishment and tax levies. For the family struggling to make their payments and keep food on the table, adding a large tax debt can be the final straw. What is most  … Read more

Earlier this year, the second largest bookstore chain in America ended up in a tight financial position. After many months of attempting to resolve their debt crisis and stay profitable, Borders ended up seeking debt relief through bankruptcy. Although they were forced to lay off thousands of employees and close several stores, Borders was able  … Read more