Latest on the Bankruptcy Blog

Debt collection is serious business and many creditors hand off accounts to third party collection companies. Despite federal regulations of debt collection practices, many companies are still violating the rules and taking advantage of consumers. As the troubles increase, so do the number of lawsuits being filed against such companies and the number of companies  … Read more

A Chapter 13 bankruptcy is designed to allow debtors to repay their debts to creditors over time in a manner they can reasonably afford. To do this, the court uses the debtor’s financial details to determine how much they can afford to pay and which creditors will receive payment. Since the financial details are the  … Read more

Debt negotiation is one tool that can be used to find relief from debts. Although not everyone has the time or financial standing appropriate for the process, it is a good starting point for anyone looking to lower their debt payments and find financial relief. Of course, there are plenty of companies offering to negotiate  … Read more

The foreclosure process isn’t easy for anyone involved. The bank loses much of the money they invested in the loan and the homeowner is left without a place to live and damaged credit. Rarely has anyone stopped to consider the impact that a foreclosure has on the children in the evicted family, until now. Impacting  … Read more

When filing for bankruptcy people are often confused about which funds and assets could become available for debt satisfaction. Most debtors find that very little, if any, are at risk for liquidation. In fact, there are numerous bankruptcy exemption laws that protect certain funds and assets completely in the process. One example is veterans benefits.  … Read more

Many businesses are hitting headlines as they enter bankruptcy protection after years in a tough economy. American Airlines, Hostess Brands Inc. and The RoomStore are all names that have gained attention as business bankruptcy filings become more commonplace. However, what hasn’t been heard of until recently is the increase in case conversions from Chapter 11  … Read more

Medical debts are one of the easiest and high balance debts to accumulate today. As health insurance coverage becomes unaffordable and services are backed by high prices, many people end up in bankruptcy over medical bills. However, there is another way to resolve medical debt trouble that could be just as effective as filing for  … Read more

Retirement funds and 401(k) account monies are generally exempt from liquidation in a bankruptcy filing. This rule applies mostly to Chapter 7 cases in which some of a person’s assets could be used to satisfy debts to creditors. In a Chapter 13 case, these funds are also generally excluded from the proceedings except for when  … Read more

California Attorney General, Kamala Harris, has been actively involved in the foreclosure crisis resolution efforts since she took office 16 months ago. After several outspoken speeches and many aggressive attempts to obtain better mortgage debt help for California homeowners, Harris is now lobbying state lawmakers to consider a new bill package. Policy Changes The proposed  … Read more

Severe weather season has taken its toll on the south and Midwest in recent weeks. With hundreds of families without a home and many more in the middle of surveying their damaged property, finding the money to rebuild isn’t always easy. Even with the help of homeowners insurance and government programs like FEMA, many families  … Read more