Latest on the Bankruptcy Blog

So many Americans are struggling with overwhelming credit card debt and many are finding themselves experiencing significant consequences at the hands of that debt load. Fortunately, there are several options available to help get yourself out of debt. Credit card negotiations can be a great tool when looking to reduce your debts without the need  … Read more

When filing for bankruptcy your income will be assessed as well as your debts. Traditional sources of income are easily accounted for in bankruptcy. However, many people that are suffering with overwhelming debt earn their money through non-traditional income sources, such as social security or workers compensation. Can these funds be seized in bankruptcy? Bankruptcy  … Read more

When looking to lower your monthly mortgage payment there are many options available. A mortgage loan modification may be able to change the terms of your existing loan enough to help you find relief from a high monthly mortgage payment. Lenders often prefer refinancing over mortgage modifications, mostly because they stand for a bigger benefit  … Read more

As credit card debt continues to soar, the average credit score has begun to drop. Once a common source of pride among many Americans, a credit score says a lot about your financial situation. Too much debt or delinquent accounts lowers your score flagging you as a potential credit risk. It seems as though many  … Read more

The mortgage loan modification process can be cumbersome to navigate and requires much effort on the part of the homeowner. Many people have found dealing with certain big name banks to be difficult and frustrating. Between lost paperwork, lack of communication and confusing negotiations, some have given up the pursuit of lowering their monthly mortgage  … Read more

Last week President Obama revealed a plan to help graduates struggling with student loan debt find relief. As one of the fastest growing demographics of bankruptcy filers, student loan debt now tops $1 trillion nationally in debt. College graduates have been suffering for years with more debt than job market incomes can support. While many  … Read more

Getting behind on your car loan can be tricky business. Since it is a secured loan, the creditor maintains the right to repossess the car if you default on your payments. To make matters worse, most car loan lenders are not willing to negotiate repayment terms when you get behind and, instead, choose repossession in  … Read more

A good credit score is made up of many components, but the most important is limited debt or getting out of delinquent accounts. Sounds impossible, right? Getting out of debt isn’t as hard as you may think. In fact, many people have successfully reduced their debt without the help of credit negotiations or bankruptcy. There  … Read more

President Obama took the stage earlier this week to announce two plans that are hoped to spur economic recovery, along with provide much needed financial relief to Americans. With student loan debt becoming a fast growing demographic of bankruptcy filings, Obama presented a student loan debt plan to help struggling graduates with their debt payments.  … Read more

The time period between deciding to file for bankruptcy and actually filing the paperwork is a crucial time.  What many people don’t know is that there are many important steps that should be completed before the process is initiated. These steps can prepare you for the process and ensure the best possible outcome. Get Organized  … Read more