Latest on the Bankruptcy Blog

There is much debate looming over the issue of debt negotiation versus debt settlement. While some advocate settling debts, others feel simply negotiating a lower payment is the way to go. In general, there are some myths associated with each process that are important to consider before you choose which option is right for you.  … Read more

Many people are attracted to short term loans because of their quick and easy money appeal. However, title and payday loans can carry some steep consequences for default. Besides having larger than average interest rates and the possibility of asset seizure, they can be quite tricky to manage in bankruptcy. Discharging Debts Since short term  … Read more

Just two weeks after the Hostess bankruptcy announcement big fingers are being pointed, ones that could stand to significantly influence the outcome of the case. Claiming a “profound competitive disadvantage”, Hostess is blaming its commitments to unions employees as the reason for the Chapter 11 filing. Defaulting On Obligations Hostess Brands Inc. has formally requested  … Read more

With the recent news reports surrounding the President’s plan to end the foreclosure crisis, there is some confusion over the different programs available for homeowners. In general, there are two programs that have received a lot of attention that people often  mistake for one another. MHA The Making Home Affordable Program (MHA) is the comprehensive  … Read more

In the midst of a devastated housing market having a home that is not underwater or in default is becoming a rare sight. For some of us managing our mortgage payments is still achievable, but is out of reach for many others. The key to avoiding foreclosure when finances become tight is preparation. Having a  … Read more

The bankruptcy process is not designed to be difficult for consumers, but there are several rules and guidelines that must be followed. These rules can make it difficult for some people to qualify or obtain a debt discharge if they aren’t careful. In general, there are a few mistakes people often make before even filing  … Read more

Bankruptcy isn’t something a person sets out to experience in their lifetime, but as economic times continue to challenge us more people are requiring the protection it can offer. Over the years, bankruptcy statistics have revealed some interesting patterns in bankruptcy filings, but one thing stays the same: there will always be people who need  … Read more

Some people assume bankruptcy, credit negotiations or debt settlement is the only way to resolve debts. The truth is, many people are successful in getting out of debt on their own without the need for a third party or extreme tactics. While getting yourself out of debt takes focus and commitment, it isn’t as hard  … Read more

After much debate swarmed the Solyndra bankruptcy filing late last year, many are criticizing Ener1 for the filing wondering why the $100 million in financial support wasn’t enough to maintain profitability. As the parent company of an electric car battery maker, the company is speaking out about the volatility of the market and their future  … Read more

As part of the President’s plan to end the foreclosure crisis and help struggling homeowners, the current program benefits under the Home Affordable Modification Program are being extended. After the disappointing news of the program’s effectiveness efforts are being made to ensure more borrowers will qualify for loan modifications. The government also plans to encourage  … Read more