Latest on the Bankruptcy Blog

Once playing for one of the most notable teams in the league, Dallas Cowboys, Owens has found himself without the luxuries the NFL has to offer. Having once earned $80 million in his football career, the former star is playing for a minor league team and fighting to keep two of his Dallas properties out  … Read more

Losing a loved one brings a lot of stress to a family. Not only are there emotional scars that must be dealt with, there can be severe financial consequences too. If the spouse was a source of income for the family finances and debts can quickly become out of control. Further, the surviving spouse could  … Read more

After Congress extended the payroll tax cut last week, millions of Americans will continue to see the benefits for another few years. Although already receiving a bigger paycheck as the result of a cut to payroll taxes, a recent study shows that over 65% of Americans had no idea their check was larger than before.  … Read more

Economists are predicting that 2012-2013 will be the ” Year of the Short Sale”, which comes as better news than 2011 being the “Year of the Foreclosure”. Despite low property values and record underwater mortgages, lenders have been persistently encouraged to allow homeowners to pursue more mortgage relief solutions this year. Hopefully, this year will  … Read more

In today’s economy making a living as a farmer is tough enough, but dealing with mortgage debts on the farm land can be quite tricky. Farmer must not only make profits to make their living, but their entire income potential is the base for their home and workplace. Owning a farm means working and living  … Read more

In 2007, an important piece of legislature was passed aimed at helping homeowners suffering at the hands of foreclosure. The Mortgage Forgiveness Debt Relief Act protects those who restructured their mortgages, pursued a short sale or lost the home in foreclosure by waiving the tax penalties on the transactions. Now that the bill is set  … Read more

While multiple solutions are advertised everyday for finding debt relief, they are anything but one in the same. One of the biggest challenges for dealing with debt is finding the right solution. Before giving up and going with whatever seems easier, it is important to know why some options should be considered or avoided altogether.  … Read more

Recent trends in bankruptcy filings reveal that not only are less people are filing for bankruptcy in these days than in the past few year, but fewer people are filing with the help of a bankruptcy lawyer. As more people attempt to navigate the bankruptcy process without representation it brings to light a few concerns  … Read more

It  has been a while since any news surround the American Airlines bankruptcy was positive or brought hope to consumers and employees. However, a recent development in debt restructuring efforts may bring some revenue to the company without making further cuts to operations or jobs. The Right Stuff The Chief Commercial Officer, Virasb Vahidi, announced  … Read more

One of the major concerns for homeowners going through a short sale or deed in lieu of foreclosure has always been the potential for tax consequences. While a 2007 bill has provided for relief of such tax consequences, the expiration of the bill at the end of this year could bring trouble for homeowners. Mortgage  … Read more