Latest on the Bankruptcy Blog

Many people that are facing foreclosure begin searching for options to relieve their mortgage debts. There are many ways to save your home from foreclosure, including loan modifications and bankruptcy.  However, not all options are created equal and finding the best option can be tricky. For example, many people assume refinancing their mortgage to obtain  … Read more

Most of us have kept our wallets and purses closed for most of the year, attempting to minimize the effects of this turbulent economy. As the holidays approach, many have already forgotten about their current debt burdens and have opened up spending for the next few months. Spooky Statistics Halloween isn’t thought of as one  … Read more

According to a poll recently conducted by the Washington Post, the majority of Americans now feel high levels of concern about their ability to meet their mortgage obligations or rent payments. Concerns have skyrocketed since 2008, despite a certain level of overall economic improvement and effort on the part of the federal government to offer  … Read more

An underwater mortgage can seem like an insurmountable problem with no hope of resolution. However, if you are suffering under the weight of your underwater mortgage, there are things that can be done; it is possible to crawl out from underneath the rising debt. In some cases, it may be possible to remain in the  … Read more

Many people fear filing for bankruptcy, worried that their financial futures will be ruined. This is simply not true. In fact, bankruptcy is a great tool that can provide you with the opportunity to get a clean start. How so? By resolving your debts you will be free to begin fresh, with a change to  … Read more

A recent study conducted by analysts at the Federal Reserve Bank of Chicago compared foreclosure rates in their own city with those in four other major Midwestern metropolitan areas: Des Moines, Milwaukee, Detroit, and Indianapolis. While Chicago had an overall foreclosure rate similar to that of the other cities (except Des Moines, which came in  … Read more

Creditors and lenders have different names for different types of debtors, each describing a pattern of behavior related to the account. Once categorized, creditors and lenders may behave differently towards you, which could affect how likely you are to receive help when needed or willingness to negotiate debt repayment. To better manage your account when  … Read more

It is no surprise that consumers have become more vigilant against unscrupulous debt collection practices. With so many fraud and scams going around, people have become more educated as to how to spot a non-reputable company, as well as what their rights are as a consumer. Fair Debt Collection Practices Act The FDCPA was created  … Read more

Reports from the Treasury Department suggest that in 2011 the homeowner Unemployment Program—a part of the federal Making Home Affordable initiative—showed significant improvement. Namely, the report showed that between June and July of 2011, there were marked increases in the number of forbearance agreements offered to homeowners. This year has also seen a lot of  … Read more

Bankruptcy can be a great tool for those who are pressured by financial hardships into struggling to make their debt payments. Although the process can be quite tedious, the government has always worked to ensure borrowers were able to get a fair chance at successful debt resolution. While many of the benefits will remain the  … Read more