Latest on the Bankruptcy Blog

Mortgage relief options are available, but many people are unable to secure the help they need. Although the stubbornness of lenders was once to blame efforts have been made to open up lending practices and better assist homeowners. So why are so many people going without help and ending up in foreclosure? Vigilant Action One  … Read more

Many people assume that the best type of bankruptcy for their debt situation is debt elimination through Chapter 7. While Chapter 7 does have its benefits, it isn’t for everyone. There is much to be gained in a Chapter 13 case, some of which could actually put you ahead of the game in the future.  … Read more

A failed airplane manufacturer has requested that their bankruptcy case be delayed yet again. Commander Premier Aircraft owes more than $800,000 in unpaid hangar lease obligations and is asking for another continuance of the case for debt restructuring purposes. Trouble In The Air The Commander Premier Aircraft Corp. has been struggling to reorganize debts and  … Read more

Tax debt is no easy matter. In fact, most people dealing with unpaid taxes often avoid the IRS because they feel they have little recourse. While some tax debts are not eligible for discharge in bankruptcy, there are still options available for resolving these debts. Facts About Tax Debt First, some tax debts are eligible  … Read more

It is no secret that Americans are less than pleased with the way the mortgage industry has been affected by the economy in recent years. The foreclosure crisis and underwater mortgage troubles have taken a toll on many homeowners. A recent survey has found that the level of disappointment and confusion goes deeper than once  … Read more

The bankruptcy process isn’t as confusing as most people make it out to be. In fact, the filing can be quite simple when you follow a few guidelines. Bankruptcy, especially a Chapter 7 case, can be straightforward and often results in a debt discharge within 6 months of the filing. The key is getting to  … Read more

Homeowners are not the only ones that suffer when mortgage debt issues arise. Although they may take the brunt of the impact, mortgage debt goes far beyond the pockets of homeowners. Mortgage security investors also take a hit in the form of losses. Now, several big banks are being sued over investor losses due to  … Read more

While American Airlines parent company, AMR, has been presenting its case in bankruptcy court over the last few weeks, major investors have sat by quietly as the company works out potential options for the future. However, as talk of union contract rejections versus a US Airways merger swarm the table, AMR investors are beginning to  … Read more

Your financial life is one of the most important aspects, but all too often we neglect it to the point of disrepair. Most people float along in their finances never really paying attention until debt becomes a problem or they find themselves unable to purchase what they want. When it comes to managing money we  … Read more

The bankruptcy process is packed full of specific rules and guidelines for how certain aspects are to be handled. While the process is not meant to be difficult or excluding, there are some rules that apply to your financial details that could change over the course of the case. One example is income, where any  … Read more