Latest on the Bankruptcy Blog

When you enter bankruptcy protection and plan to keep a secured debt asset, such as a mortgage or car, you may be requested by your creditor to sign a reaffirmation agreement. This agreement is essentially a new contract between you and the lender that reaffirms your debt and personal liability for the debt. You  may  … Read more

Many hardworking people have suffered having their version of the American dream crushed by a foreclosure. No one sets out to get into a mortgage only to end up in default and out on the street while their home is taken into foreclosure. Unfortunately, this has been the reality for many. As the nation works  … Read more

It isn’t just the IRS that cracks down on delinquent taxpayers and comes collecting on tax debt. Many cities have begun to step up their efforts by knocking on doors looking to collect on back due city taxes. The city of Philadelphia is currently pursuing the pension benefits of 2,500 taxpayers who are delinquent on  … Read more

Once part of a well known, all girls singing group, Tionne “T-Boz” Watkins has found herself in financial trouble for the second time this year. Having filed for bankruptcy in Georgia back in February, Ms. Watkins’ case was dismissed by the court. Now back in court once again, Ms. Watkins has filed for Chapter 13  … Read more

As foreclosure issues continues to creep into every neighborhood in America, state governments are becoming more vigilant about developing a game plan to better protect struggling homeowners. Nearly 19,000 Oregon homeowners received a foreclosure notice in October. However, this year’s efforts by Oregon’s legislature proved fruitless and two bills failed to reach the floor in  … Read more

As American Airlines heads to Texas bankruptcy court, many other national hubs for the airline are also worried about how the news will impact travel and local tourism. The Miami International airport is the airline’s largest hub in the southeastern area of the United States, which serves to transport many in and out of Latin  … Read more

Refinancing a mortgage can be a great tool to help resolve high monthly mortgage payments, but it does come with some additional considerations. For one, it isn’t traditionally the best tool if you are facing foreclosure and need to quickly resolve your mortgage debts. Before you sign that refinancing application, ask yourself the following questions.  … Read more

A tricky issue in bankruptcy is the issue of inheritance money. If you inherit money and then file for bankruptcy, there is no guarantee that money will be protected. The same is true if you inherit money after a bankruptcy filing. However, this does not mean that a person should shy away from filing for  … Read more

With so many behind on their mortgage payments and foreclosure looming around the corner, many have begun investigating potential solutions to their financial troubles. There are many options on the table, which can complicate the mortgage relief process. One concept is to enter a loan workout, which basically refers to plan to restructure mortgage debts  … Read more

We could all use a little help with managing our money better. The personal debt crisis has taken a trip away from our control and too many of us are facing tough decisions, such as foreclosure or bankruptcy. The good thing is that it is never too late to make a change, but getting out  … Read more