Latest on the Bankruptcy Blog

When it comes to resolving debt, debt negotiations can be quite effective for many people. However, the process can be time consuming and does require additional effort. The key in any negotiation is preparation and planning, which also includes knowing what your lender needs to see and hear to be convinced to help. Getting It  … Read more

Owing money to creditors is not a position anyone wants to be in, especially once collection efforts are initiated. Debt collection can range from a simple phone call to wage garnishment, the latter being a more difficult action to resolve. Luckily, there are limits and rules to wage garnishment that can influence the way a  … Read more

Interest rates have continued to remain low for the last year or more. As more people begin to take a proactive approach to their mortgages and lenders become more flexible in lending, refinancing offers have skyrocketed. Does this increase in refinancing offers mean now is a good time to refinance? The Answer It depends. Refinancing  … Read more

No one sets out to end up in debt or bankruptcy, but it can happen to the best of us. Financial hardships are often the result of unplanned circumstances like job loss or medical illness. Even if financial trouble strikes unexpectedly, there are a few things we all should be doing to help combat the  … Read more

Mortgage and foreclosure fraud schemes have been lurking around for a while now. As the Federal Trade Commission works to investigate thousands of consumer complaints each month, other agencies have stepped into help police such scams. A recent investigation in Gainesville, VA lead to the conviction of five people, who all face possible jail time  … Read more

After speculation of a possible bankruptcy swarmed the news desks last year, AMC theater group was able to stave off the filing and remain in operation. However, economic pressures have recently led the entertainment company towards a buyout option to resolve its financial issues. The buyout comes by way of a Chinese company, who is  … Read more

The general assumption is that credit counseling is only for people filing for bankruptcy. While it is a requirement in most states for bankruptcy filers, anyone can benefit from the resources credit counselors can provide. However, the process requires active participation and can be as successful as you make it. Get To Work Credit counseling  … Read more

Home buying has been on the back burner for the last few years, as the mortgage debt mess has kept many people afraid of the process. With mortgages running high levels of risk, some people simply haven’t had the ability or desire to buy in this market. Recently, the foreclosure crisis is coming to an  … Read more

NASCAR driver Jeremy Mayfield has had a bit of trouble in his personal life in recent years. Financial concerns, allegations of drug abuse and divorce have plagued Mayfield, but the trouble doesn’t stop there. Mayfield’s former wife, Shana Mayfield, recently filed for Chapter 7 bankruptcy, leaving some of their creditors hanging in the balance for  … Read more

It hasn’t been long since lenders have become more open to the idea of short sales as a foreclosure alternative. Once thought to be more problematic for both lender and homeowner, they weren’t easily considered in years past. Now that lenders can recoup more of their loan and minimize risk in a short sale over  … Read more