Latest on the Bankruptcy Blog

The average family will spend considerably more this holiday season, despite record high debt burdens. Fact: Holiday spending will increase 3.8% this year to a record of $469.1 billion, nationally. While most of us have spent the past year desperately juggling our finances and trying to stay out of financial trouble, at the same time  … Read more

Part of the bankruptcy process is meeting with creditors to discuss your financial situation. The 341 Meeting Of Creditors is simply a meeting between you, the creditors, the Trustee and your bankruptcy attorney. Although your creditors maintain the right to appear and ask questions, there is  no need to be nervous about the meeting. In  … Read more

Have you had trouble with your credit card company? Have you had to dispute information or wrongdoing with a lender? Were you turned down by a creditor for debt negotiation despite your good faith effort to prove financial hardship? If you answered “yes” to these questions, the good news is that you are not alone.  … Read more

Over the years there has been an increase in the number of fraudulent bankruptcy cases. Part of the reason is simply due to the increased number of filings in general, the other part is due to the fact that many consumers don’t know much about the bankruptcy process. If you are considering filing for bankruptcy,  … Read more

If you owe the IRS money, you know how stressful it can be to try and manage your tax debts. Fortunately, the IRS offers two programs to help resolve unpaid taxes. However, the installment plan and Offer In Compromise programs may not be much help if the bulk of your taxes is due to IRS  … Read more

A question asked by many in this bullying economy. Although bankruptcy is a valuable tool that can help many people resolve their debt troubles, it isn’t for everyone. Being able to recognize where you stand financially and obtain a realistic view of your financial future is the first step to financial freedom. Knowing When It  … Read more

Defaulting on student loans is serious business that has forced many college graduates into bankruptcy. While filing for bankruptcy may be able to alleviate other debt troubles, student loan debts are generally not dischargeable in bankruptcy. This makes matters tough for those who paid an arm and leg for a college education only to find  … Read more

The government hasn’t taken the foreclosure crisis lightly and has even developed several foreclosure aid programs in efforts to help struggling homeowners find mortgage debt relief. Unfortunately, many homeowners continue to struggle and have yet to find the relief they are looking for. Maybe there are too many options, or maybe homeowners simply don’t know  … Read more

Although a loan modification can be a great way to get out of mortgage debt and avoid a foreclosure, they aren’t always the easiest to obtain. Many homeowners have tried applying for a loan modification only to be turned away by their lender. Although some of these rejections were due to unreasonable and stubborn lending  … Read more

A nationally recognized furniture retailer has filed for Chapter 11 bankruptcy. The RoomStore operates many locations around the United States offering consumers the promise “We don’t cut corners. We cut prices.” Despite the company’s best efforts to carve out their share in a highly competitive market, the company faces tough debt reorganization efforts if it  … Read more