Latest on the Bankruptcy Blog

As spring break approaches many families are planning to take a few days off to spend time together. Unfortunately, it is holidays such as spring break that often bring added financial pressure and extra debt into the family. Before getting deeper into debt over a weekend trip or mini-vacation, consider the following ways to save  … Read more

Whether you resolved your debts through a settlement agreement, credit negotiation or a bankruptcy, there are some aspects of your financial future to be considered. The most important thing to remember after debt resolution is staying out of financial trouble in the future. This often means making some important changes and knowing what to expect  … Read more

As one of the hardest hit states by the foreclosure crisis, Nevada has had to up their efforts to protect homeowners and help spur recovery in the market. After several lawsuits were filed a few months ago, the cases have been tossed around between the courts. Keeping It Local Currently in the middle of several  … Read more

Business bankruptcies may involve different aspects than a personal bankruptcy, but there are some overlapping similarities. As with a personal bankruptcy, there are two basic outcomes to a business bankruptcy filing: a discharge or a dismissal. A debt discharge is generally the sought after outcome in any type of bankruptcy filing, but there are times  … Read more

Millions of Americans have suffered at the hands of the wrongful foreclosure problem that spread across our nation over the last few years. As just one of the kinks in the chain of the foreclosure crisis, this issue has left many without  a home and in deeper financial trouble. Luckily, there has been much attention  … Read more

Most people are aware of the fact that in some bankruptcy cases assets could be liquidated in order to satisfy debts. While this is certainly not always the case there are instances which it does happen. In order to determine how much of a debtor’s assets could be used to pay creditors a liquidation test  … Read more

Filing for bankruptcy used to carry a stigma of being only for those who mismanaged their money. However, as economic pressures mount and unexpected life situations arise, the need for bankruptcy can arise for anyone and anytime. In fact, research now shows that the majority of bankruptcy filings are brought about through uncontrollable circumstances. Influential  … Read more

In 2007, the Mortgage Debt Forgiveness Relief Act was implemented allowing for homeowners to exempt forgiven debts from being taxable as income. This bill is set to expire at the end of 2012, which could pose some problems for future homeowners. However, there are a few ways to ensure that the possible expiration of the  … Read more

The mortgage lending industry has struggled to retain profitability throughout the foreclosure crisis. Although their role in the overall problem has lead to serious consequences for homeowners, most of it was driven by simple business strategy. After much criticism, and some convictions for fraudulent practices, many lenders are beginning to open up to alternative solutions  … Read more

The hits just keep on coming in the American Airlines bankruptcy case. As one of the most followed Chapter 11 cases in history, the company has been making some controversial moves. After recent news broke about 13,000 job cuts a few weeks ago  more cuts are being made to their sister airline, American Eagle. Airline  … Read more