Latest on the Bankruptcy Blog

Car loans are one of the tricky types of loans to get discharged in bankruptcy. The reason is that they are secured loans, meaning the car itself is secured against the loan as collateral. If you default on the loan the creditor can repossess the car in efforts to satisfy the debt. Car loan debts  … Read more

As a consumer it can be scary to deal with debt collectors. You may feel like you have no rights or that your options are limited to what they offer you. Fortunately, you have more rights than you may realize and repaying your debts doesn’t have to come in the form of dealing with debt  … Read more

Debt settlement is not for everyone. While for some it may be the best option for handling rising debt problems, for others it could be problematic. Since the industry is largely unregulated, pursuing debt settlement can be risky. However, for some, it can be worth considering. For those struggling to avoid bankruptcy and foreclosure, debt  … Read more

According to a report recently released by the inspector general for the Federal Housing Finance Agency (FHFA), Fannie Mae ignored indications that its attorneys abused the foreclosure process. The inspector general has actually determined that as early as 2003, legal firms hired by Fannie Mae were engaged in illicit activities. Such activities included, but were  … Read more

It is common to be concerned about your credit and even more so after a bankruptcy. Although you will face some credit challenges after a bankruptcy, your future in credit is not ruined. The truth is, there are plenty of lenders that offer credit to consumers post-bankruptcy. Getting Back On Your Feet The best way  … Read more

If you bank at one of the large or chain banks, you have probably noticed several changes to your account recently.  Many banks have discontinued key features and are now charging customers to keep their accounts open. As banks struggle to maintain profitability in a wavering economy the customers are taking the hit. Many of  … Read more

According to HousingPulse Tracking Survey, fewer homebuyers are pursuing short sales as a means of saving money on a new home. This trend has been primarily attributed to the problematic, lengthy nature of the short-term sale process. Most notably, HousingPulse found that first-time homebuyers accounted for merely 40 percent of all short sale transactions, a  … Read more

While debt settlement can often be the best means of avoiding bankruptcy or foreclosure, it can also mean doing significant, lasting damage to your credit. Failure to pay bills—a crucial step in the debt settlement process—can severely damage an individual’s credit score. Therefore, the last important step of a debt settlement negotiation is to repair  … Read more

One of the most popular pizza and sub chains filed for bankruptcy earlier this year. The Sbarro family started the business in Brooklyn, NY as an Italian grocery store in 1956 and eventually grew to open stores nationwide. After rising food costs and  recession reduced sales, this 50+ year old business took a huge hit  … Read more

After weeks of surprisingly low application numbers, U.S. mortgage refinancing applications surged last week as rates hit a new all-time low borrowing cost. In fact, according to the Mortgage Bankers Association, mortgage applications increased by 9.3 percent from the previous week, with refinancing requests increasing a whole 11.2 percent. This is the third consecutive weekly  … Read more