Latest on the Bankruptcy Blog

You may have heard about changes in the bankruptcy code a while back and wondered what it meant or how the changes would affect someone filing for bankruptcy. In general, bankruptcy laws have been fairly straight forward, with the small variations between state laws. Federal vs. State The federal bankruptcy code provides a uniform standard  … Read more

You may already have some clue or are just beginning to understand the painful reality of wage garnishment: it is embarrassing, costly and can put you on the financial ropes for a long time. Wage garnishment is a last resort for creditors looking to collect on substantial, unresolved revolving debt. In many cases, credit card  … Read more

The last few years, the threat of bankruptcy and foreclosure has plagued many families across the country and many more face daily challenges to maintain their financial obligations. As news spreads about the drop in foreclosures for yet another consecutive month this fiscal year, many people are taking the news as a sign of hope  … Read more

As soon as you file for chapter 13 or chapter 7 bankruptcies, the court will issue an Order of Relief. Within this order is a provision that directs all bill collectors to cease and desist, so they are legally required to leave you alone while the case progresses. This also forestalls the foreclosure process for  … Read more

When you are experiencing financial difficulties and your bills pile up, the last thing you need is another debt collector calling. It seems as though creditors are relentless in their efforts to collect on a debt, and many of their actions can even be abusive. As the Federal Trade Commission is cracking down on debt  … Read more

If you are a current Federal Housing Association (FHA) borrower and interested in refinancing, now may be the perfect time to do it with a streamlined refinance. A streamlined refinance removes a considerable deal of time and work from the refinance process, and could potentially save you a small fortune during this time of historically  … Read more

Credit scores can be a sore subject for many people. People often are surprised to find out their score is lower than expected, mainly because they simply don’t know what all their score is made of. When it comes to managing your money and staying out of debt, the best tool you have is to  … Read more

The foreclosure process is actually a very simple one. If a homeowner fails to rectify overdue payments, the bank will put his or her house up for auction. The reality is murkier: the glut of foreclosed homes on the market make it impossible and unrealistic for banks to exhaust their foreclosure rights and push tenants  … Read more

If you are looking at foreclosure or delinquency generally, the forbearance agreement may seem like the perfect solution to your troubles. Essentially, you get more time to get your life in order, and the bank agrees to let you do this on the promise you will repay what you owe, in full. However forbearance agreements  … Read more

Many people end up in significant debt over unpaid tax liabilities. Owing the IRS money is serious business and the IRS doesn’t take tax debt lightly. Many people experiencing financial trouble wonder whether tax debts are dischargeable through bankruptcy.  Some say that tax debt is not dischargeable in bankruptcy. While this may be true in  … Read more