Latest on the Bankruptcy Blog

You are significantly in debt. You have missed several payments and don’t expect to be able to catch up any time soon. First, know that you are not alone. This economy and poor money management on our part has lead many into credit negotiations. So why pay someone to help negotiate your debt when you  … Read more

Just weeks after American Airlines announced its plans to file for Chapter 11 bankruptcy, the company has already broken a promise to employees. Once remaining steadfast in their assurance that neither consumers nor employees would likely be affected by the airline bankruptcy, the company announced pension cuts and mandatory furloughs for many employees. The Ugly  … Read more

Some good news appears to be on the horizon as foreclosure filings fell last month. As the U.S. housing market faces a tough road ahead, many are optimistic that the worst is behind us. However, a detailed look into the past foreclosure patterns reveals some shocking statistics. In The Numbers Recent efforts to help homeowners  … Read more

Filing for bankruptcy can be a great way to resolve debt troubles and protect your assets from creditors. While it isn’t for everyone, there are very different benefits and risks associated with Chapter 13 bankruptcy versus Chapter 7. In general, it is always best to repay your debts to the best of your ability, which  … Read more

By this time of the year most of us have already begun feeling the pressure holiday shopping brings. There aren’t too many families who can afford to splurge this holiday season, but even those who can tend to overspend like the rest of us. With so many retailers offering supposedly great deals, many of us  … Read more

Despite increased government efforts to help underwater homeowners, many are still finding themselves denied for loan modifications and in foreclosure. The Home Affordable Modification Program (HAMP) is just one of a handful of federal programs designed to help homeowners, but whose efforts have been disappointing at best. Barely one-third of homeowners who would qualify for  … Read more

In general, a short sale transaction can be a good alternative for some who are unable to secure loan modifications and want to avoid foreclosure. However, they aren’t the easiest process to navigate and can leave you short in the end if not handled properly. Tax Considerations Selling a home through a short sale causes  … Read more

Despite high demand for green roof products, like solar panels, several big name solar companies have faced tremendous financial pressure in recent months. Solyndra filed for bankruptcy back in August in hopes of protecting its assets and reorganizing its debt troubles. Now the company finds themselves under federal investigation of issues drawn to light as  … Read more

For many people, the reality of overwhelming medical debt is all too real. With health insurance options limited to out of reach for many Americans, it isn’t uncommon for many to be pushed into financial hardship over medical care. In fact, medical debt has become a key player in the reasons behind many bankruptcy filings.  … Read more

Most of us begin to get anxious this time of year as tax season approaches quickly after the New Year. Tax debts and payments can be a stressful matter for anyone, especially if you already hold thousands in unpaid taxes. Whether you are looking to reduce your 2011tax debt liability or maximize your refund, there  … Read more