Latest on the Bankruptcy Blog

The much anticipated mortgage settlement brought some big news a few weeks ago when details were released. Some were pleased to find out there was a plan for a $26 billion payout for unlawful foreclosures and stubborn lending practices. However, critics soon surfaced pointing out many disappointing flaws inside the program’s details. Now there is  … Read more

One of the main concerns people have about bankruptcy is how it will affect their credit. While filing for bankruptcy does not cause damage to your credit, there are some credit consequences indirectly associated with the process. However, understanding these issues can prevent misconceptions and missed opportunities for utilizing a potentially valuable debt relief resource.  … Read more

One of the biggest reasons people file for bankruptcy is to protect their assets from creditors, especially a home. The bankruptcy process can stop a foreclosure and allow the debtor time to resolve their mortgage debts, but there are some additional considerations. Resolving Mortgage Debts The first point to consider is the type of bankruptcy  … Read more

There has been much attention over mortgage refinancing in recent months. As many homeowners have failed to qualify for refinancing in the past, government efforts have been implemented to help alleviate the gap. However, refinancing can be tricky and the process isn’t always as easy as one would think. Considerations Refinancing can be a great  … Read more

It is a bit surprising to learn that there has been an 11 percent spike in the demand for consumer credit cards over the last few months. Unemployment continues to plague the nation, mortgage debts and foreclosures are out of hand and personal debt burdens are already at an all time high. So why are  … Read more

Medical debt has become a major source of personal debt among Americans in recent years. With so many uninsured or underinsured people, a simple trip to the emergency room can cost thousands. As one of the largest debt sources contributing to bankruptcy filings today, medical debt is a major burden for many families. Luckily, there  … Read more

There has been much attention surrounding the drop in bankruptcy filings over the last year or so. Historically, filing patterns coincide with economic fluctuations and legislative changes. However, as the economy continues to struggle the decrease in filing patterns has many looking for answers. Puzzling Numbers The drop in filings is a good sign overall.  … Read more

As a strategy to avoid foreclosure, and the negatives associated with one, a short sale can be a good option for some homeowners. Other than having to move out at the end of the sale, homeowner struggling with mortgage debt are able to find resolution with few negatives. However, there are some things to consider  … Read more

While bankruptcy is a useful tool for those experiencing financial hardships and insolvency, rarely does someone set out to end up over their heads in debt. Smart money management isn’t something that comes naturally for some people and many find that they need help learning these skills. Successful financial management starts at home with a  … Read more

After making millions in the NBA over a span of a few short years, Allen Iverson is reporting that he is broke. While it isn’t uncommon for sports players and other famous young adults to make millions and spend it quickly, Allen Iverson’s case is drawing much attention. Big Money Big Debts Allen Iverson was  … Read more