Latest on the Bankruptcy Blog

The foreclosure crisis has brought with it areas of devastated home values and vacant properties that no one wants, even for rental properties. As part of the foreclosure cleanup  efforts the Federal Housing Finance Agency (FHFA) is inviting private investors to purchase groups of foreclosures in some of the nation’s hardest hit areas. Sold To  … Read more

There have been several reports lately about possible signs that could indicate economic recovery. As bankruptcy filings continue to decrease so has the number of consumer’s defaulting on debt payments. Further, estimates of fourth quarter gains in 2011 also reveal some hopeful indications that the tides may be changing. Hopeful Notes Year end growth reports  … Read more

Credit collectors are known for their harassing ways when it comes to collecting on a debt. People already experiencing financial trouble often find their tactics overwhelming and stressful. One of the most notable features of the bankruptcy process is the protection from creditors offered under the automatic stay. Benefits When a debtor files for bankruptcy  … Read more

As more homeowners fight to save their homes and find a way out of the foreclosure process, many new “options” are popping up around the country claiming to bring big benefits to those in need. One of these solutions is being called a strategic walk-away, meaning the homeowner voluntary walks away from their home in  … Read more

Most people focus heavily on the bankruptcy process and often neglect their duties after the debts have been discharged. While qualifying for Chapter 7 and ensuring everything is included in the case petition is  important, there are several actions that you need to take after your case is complete. Credit Monitoring It is common for  … Read more

Working to resolve mortgage debts can be quite tricky for many people. While short sales provide an alternative to foreclosure, they are not the easiest process to navigate. It is the homeowner’s job to secure the best offer on the property to present to the bank, if they are to hope for the lender’s acceptance.  … Read more

American Airlines officials met yesterday with the head of three major employee unions to discuss the future of the company and its Chapter 11 restructuring plans. The stakes ran high as many watched and waited, wondering exactly what went on behind closed doors in the discussion of the airline bankruptcy. Big Decisions Hit Home AMR,  … Read more

More good news has come from Obama’s foreclosure crisis efforts as existing mortgage modification programs are being continually expanded and revamped.  Earlier reports mentioned the expansion of eligibility requirements of the Home Affordable Modification Program in efforts to reach more homeowners in need, but the changes don’t stop there. Bigger and Better Not only is  … Read more

When filing for bankruptcy there are two possible outcomes to a case: discharge or dismissal. While the ultimate goal for any filer is to obtain a debt discharge, there are numerous factors that can ultimately influence the outcome of your case.  In the event of a case dismissal, there are two ways this can happen.  … Read more

Now that we are a month into 2012, have you changed any of your money management habits or developed a plan to get out of debt? If you find that you are following the same old patterns as last year, it is not too late to make a plan to improve your financial situation this  … Read more