Latest on the Bankruptcy Blog

Student loan debts are no easy debt burden to manage, even for the immediately successful graduate. The lure of student loans promises big returns on a financial “investment” of one’s future, but has begun to take another turn in recent years. Economic factors have driven many graduates into financial insolvency over student loan debt repayments.  … Read more

Debt collectors are notorious for their persistent and hard line approach to collecting on what is owed. Although medical debt is a large contributor for the debt burden and bankruptcy filings among many Americans, most of their tactics have been fairly subdued, until now. One of the nation’s largest collectors of medical debts is being  … Read more

While refinancing your mortgage can be a great tool for lowering your payments and gaining control over your mortgage payments, the process is quite tedious. There are numerous requirements and eligibility criteria you will have to face in order to successfully obtain a refinanced mortgage. Before going into the process it is best to prepare  … Read more

Homeowners may soon find some more confidence in lending and mortgage debt solution practices as a recent report stated that foreclosure alternatives are on the rise. Short sales transactions have surpassed foreclosure numbers for the first time in many years. Changing Tides According to the latest data, the number of U.S. homes sold in short  … Read more

Ally Financial has been working to keep its mortgage  unit out of bankruptcy for the past few months. Formerly GMAC, Ally bank offers an array of products from retirement accounts, to mortgages and car loans. Having suffered financially in its mortgage unit, CEO Michael Carpenter may not be able to hold off the filing much  … Read more

Despite the array of benefits available with a mortgage modification, the truth is they aren’t for everyone. Depending on conditions with your home and your financial situation, you could find that a mortgage modification isn’t going to provide the kind of help you need. Considerations As an alternative to foreclosure, mortgage modifications are a great  … Read more

Part of the stipulations involved in filing for bankruptcy is that debtors complete a credit counseling course. One of the topics covered in this course are a review of all debt relief options, including those outside of bankruptcy. The idea is to equip the debtor with the information needed to make an informed decision about  … Read more

After several years of financial turmoil and a credit downgrade in 2005, things are looking up for Ford Motor Co. Unlike its rivals Chrysler and GM, Ford was able to avoid bankruptcy a few years back by taking out a massive restructuring loan. With much of the loan repaid and profitability slowly returning, Fitch Ratings  … Read more

Part of your responsibility in owning a home is paying your property taxes. Failing to keep up with property tax payments can lead to serious consequences and even put your ownership of the home at risk. Property Tax Debts Failure to pay property taxes results in tax debts. Once you owe tax payments on your  … Read more

One of the great things about the bankruptcy process is the legal help and intervention involved in the process. Legal protection from creditors, help negotiating and resolving debts and the ability to fend of foreclosure or repossession are just some of the benefits found along the way. While much of the process is governed by  … Read more