Latest on the Bankruptcy Blog

College student loan debt has quickly become one of the largest contributors to personal bankruptcy filings over the last few years. Graduates are finding the job market less than fruitful and, without adequate income, their large student loan debts have become unbearable. Luckily, the crisis has not gone unnoticed. “Pay As You Earn” Program President  … Read more

Owing the IRS money is not a position anyone wants to be in, especially when the IRS begins to try and collect on the debt. Tax debt is a common source of debt among many Americans and one that is known to be among the most stressful.  The problem with tax debt is that it  … Read more

Many years ago layaway shopping was a common occurrence. Families would purchase an item and make payments towards the item over several weeks or months until the item was fully paid for. In recent years, many stores dropped layaway shopping and turned towards offering store credit cards or requiring payment in full at the time  … Read more

Having your wages garnished can put a significant amount of financial pressure on anyone. In  many cases, a person experiencing wage garnishment has already been having financial trouble, which is exacerbated by further financial complications. Luckily, there are ways to stop your wages from being garnished, but the best way to protect your money is  … Read more

When trying to avoid foreclosure the options can become overwhelming. Between mortgage modifications, short sales and deed in lieu of foreclosure, it can be difficult to know which to choose. In general, a deed in lieu is a fast and relatively easy way out from under a mortgage debt. However, there are certain aspects to  … Read more

As so many homeowners have faced, or will face, foreclosure the country is left to wonder who will be next.  Fortunately, the crisis has not gone unnoticed and the government has stepped in to help struggling homeowners. There have been several federal programs developed aimed at helping homeowners avoid foreclosure and get out of mortgage  … Read more

The state of our financial lives is turbulent now more than ever before. With so many people drowning in debt and considering bankruptcy, people begin to think that drastic times call for drastic measures. Actually, the opposite is quite true. When things are at their worst, taking a time out to really consider all of  … Read more

When you are drowning in credit card debt, the idea of negotiating with your creditor may seem like a daunting task. Although many people are successful at negotiating debt repayment plans directly with their lenders, it is not always the easiest task. Having a credit negotiation specialist can greatly increase your odds of winning a  … Read more

After many months of denying any real threat of bankruptcy, American Airlines officials have admitted the possibility of bankruptcy is very real. The Texas based airline has struggled for years to maintain profitability and was among the first to begin drastic, cost-saving cut backs and additional consumer fees to thwart off financial trouble. Now that  … Read more

Many people facing mortgage debt must try and decide the best course of action to relieve their debts and minimize the risk of foreclosure. When finances become tight, it may also seem like your options are closing in around you. In fact, the opposite is true. A deed in lieu of foreclosure can quickly absolve  … Read more