Latest on the Bankruptcy Blog

The Swedish automaker Saab filed for bankruptcy as a last resort option for managing its financial troubles. Having been owned and operated by General Motors for quite some time, the once foreign car manufacturer now stands to reclaim its international roots through a buyout by a different foreign company. All Eyes On Saab Since the  … Read more

When working with lenders to resolve mortgage debt, they can be quite picky. In fact, it isn’t uncommon for a debtor to apply for a short sale or submit a short sale offer and the bank to deny it. Why? Because the lender wants to regain as much of their lost loan as possible. However,  … Read more

When the foreclosure notification arrives the pressure for finding an alternative mounts. Now more than ever does it become important to review all of your options for mortgage debt relief. While loan modifications, short sales and deed in lieu transactions pass by on the radar, they are not for everyone. This is especially true of  … Read more

Residents of the United Kingdom have been granted the opportunity to avoid personal bankruptcy while obtaining a similar level of debt relief for the last two years. As an initiative to help the financially insolvent, the government began a program to offer Debt Relief Orders (DRO). These orders essentially provide the same benefits of bankruptcy  … Read more

The mortgage lending industry can be a dangerous place these days. While many homeowners are simply fighting to avoid foreclosure and secure relief from their mortgage debts, many companies have been engaging in fraudulent practices to take advantage of desperate homeowners. Unfortunately, it isn’t just third party companies that have preyed on homeowners, but many  … Read more

As American Airlines works towards a debt restructuring that will save the company, big decisions are being made by company officials. The parent company of American, AMR Corp., asked a federal judge for approval to hire a financial adviser to help with the airline bankruptcy case. AMR plans to pay the financial company $15 million  … Read more

It is estimated that consumers spent nearly 30 percent more this holiday season than in the past five years. Even worse, most used credit cards to pay for those purchases. We should be receiving that dreaded credit card bill in the mail any day now, leaving too many people further in debt and financially stressed  … Read more

When working manage your debts, there are cases in which a lender may forgive certain debts. This is common in credit negotiations, mortgage loan modifications and short sales; whereby a lender may waive delinquency fees or deficiency balances associated with a loan. When this happens the debtor is relieved of their financial obligation over these  … Read more

When mortgage payments begin to feel pressured the worry over foreclosure sets in and many people take action. While there are several options available to help relief mortgage debts, some people first choose to review mortgage refinancing options. Since interest rates have been at their lowest in decades, refinancing may prove beneficial to many. However,  … Read more

The bankruptcy process is riddled with jargon and official terms that confuse many people. When seeking bankruptcy protection, getting to know these terms becomes important to the outcome of your case. If you are considering filing for Chapter 13 bankruptcy, you may be faced with several terms that are not part of the Chapter 7  … Read more