Latest on the Bankruptcy Blog

The plan enacted by three Rhode Island cities to prevent foreclosures and ease their impact on homeowners, has had little effect. The plan involved requiring lenders to try mediation procedures before pursuing a full foreclosure initiative have helped only a small percentage of Rhode Island homeowners struggling with debt. The most recent statistics released by  … Read more

The well-known group UB40 once topped the pop music charts, but now has found themselves in bankruptcy. The current band members have been declared financially insolvent by a Birmingham County Court judge. Money Troubles The band has faced major financial issues for several years, which it is speculated to be the reason for frontman Ali  … Read more

Student loan debt is among the fastest growing debt source for young adults under the age of 30. As tuition rates increase each year and recent graduates struggling to find employment in the poor job market, many are finding themselves unable to repay their loans. The problem with student loan debt is that lenders are  … Read more

In the past year, studies show that the rate of homeownership has fallen at the largest percentage since the Great Depression, even though overall homeownership numbers remain relatively high. According to the Census Bureau, homeownership rates are at their lowest levels since 1998. The current rate is down 67.1 percent since 2010, coinciding with a  … Read more

Economists have reported slumping retails sales and increased consumer prices for months now. As the economy continues to challenge our society daily, consumers and businesses owners are fighting back against what could be seen as a hopeless fight. Many consumers are left to wonder whether bargains are a thing of the past and businesses question  … Read more

A number of the nation’s largest lenders have begun seeking out qualified homeowners to complete short sales in exchange for substantial monetary incentives. In fact, reports suggest that incentives could amount to as much as $35,000 for each deal completed. These legitimate offers have appeared all over the country. However, as short sales require banks  … Read more

You may have heard that one way to stop the foreclosure process and save your home is through bankruptcy. Although a bankruptcy can fulfill this expectation, there are some vast differences when filing for Chapter 7 versus Chapter 13 bankruptcy. Chapter 7 Bankruptcy The most common thought of type of bankruptcy is Chapter 7, in  … Read more

Every day, we hear about a friend who has resolved their credit card debt through a debt settlement. It can seem like a tempting proposition, but before taking this serious financial step, it is important to assess the options available and determine if this is the right choice for you. Only with a comprehensive understanding  … Read more

A increasingly common picture is that of the recent college graduate armed with an expensive four year education standing in the career fair line. Why? The economy simply cannot produce the needed entry level jobs promised to these educated young adults in exchange for getting their degree. Many are left with no job, or highly  … Read more

Recent studies show that Canadian homebuyers are becoming increasingly interested in the United States’ property market. In particular, Canadians have begun flocking to cities such as Phoenix, and other warm locations, to look for deals. Lured by the markedly-weak U.S. dollar, as well as exceptionally-low interest rates and property prices, Canadians have begun looking to  … Read more