Latest on the Bankruptcy Blog

Dealing with tax debts is not as hard as many people expect. The IRS offers two programs to help taxpayers resolve their unpaid taxes. They may even be willing to settle for less than is owed in some situations. When a taxpayer cannot afford to repay their full amount of tax debt, the IRS allows  … Read more

Americans are not the only ones struggling with overwhelming debt and bankruptcy filings. The Republic of Ireland has been suffering a similar foreclosure crisis and mortgage industry breakdown. After more homeowners in Ireland lose their homes, the government has decided to overhaul bankruptcy laws in hopes of reaching more of those in need. Changing Their  … Read more

People seeking to lower their monthly payments and resolve mortgage debt troubles through a loan modification often come in contact with many conflicting pieces of advice. Some advocate ideas such as strategic default, while others push a negotiation formula that is more suitable to the lender. In either case, knowing the difference between good and  … Read more

Many people have questions about the bankruptcy process, ones that can be vital to the success or failure  of their case. It is important for anyone considering bankruptcy to understand some of the basics about the process. What Debts Can Be Discharged? Most unsecured debts, such as credit cards and medical bills, can be easily  … Read more

Debt isn’t  necessarily a bad thing. In fact, holding debt under certain limits can be highly beneficial to your credit score. However, having too much debt, too many accounts or delinquent accounts can be detrimental. So how do you know when enough is too much? Crossing The Line The general rule of thumb  is to  … Read more

It is almost time for spring cleaning, and this includes cleaning up your finances. There is never a bad time for getting control of your finances and putting your money to work for you.  If you haven’t already taken a look at your finances this year, make a commitment to get on track and bring  … Read more

Owing tax debts have one thing in common: they can be difficult to manage and repay. However, there are different types of tax debts and each come with a different set of rules as to how they can be repaid. Most tax debts are resolvable directly with the tax assessor, but paying those debts in  … Read more

The Federal Trade Commission operates to educate and protect consumers. Their job is to field consumer complaints and investigate fraudulent operations in the financial, mortgage and credit industries. Over the years the FTC has developed a list of recommendations for consumers seeking help in any one of these areas. Debt Reduction Ideas The FTC has  … Read more

Homeowners have had a tough go at securing both loan modifications and refinancing options from lenders over the last few years. Holding strict credit qualification and high closing cost requirements many lenders have been able to avoid taking part in foreclosure alternative efforts. However, industry changes are on the way that could make it easier  … Read more

Many homeowners are scrambling to find a viable solution to avoid foreclosure and keep their homes. While people seek help with their mortgage debts, a common trend among certain companies is to advise clients to purposely miss a mortgage payment in order to facilitate lender negotiations. This strategy is dangerous and usually results in more  … Read more