Latest on the Bankruptcy Blog

In today’s economy, many people are considering second or third mortgages on their home. This can be risky and generally not advised for anyone who intends to use the money from the additional loans to float the payments on their original loan. Further problems arise if the original loan was to enter default and foreclosure  … Read more

People often wonder why a Chapter 13 bankruptcy takes longer than a Chapter 7. Typically, a person filing for Chapter 7 can receive a debt discharge within 6 months; whereas a person in Chapter 13 may take up to five years for to have their debts discharged. Waiting For Relief Why does Chapter 13 take  … Read more

Credit card offers come by the hundreds and it seems as though our mailboxes are always stocked with at least one offer per week. While many people find preapproved credit cards as a sign of their good credit standing, it could actually be a sign of trouble. Finding the right type of credit card depends  … Read more

Filing for bankruptcy can be intimidating for some people, especially for those who fear damage to their reputation. The good news is that a bankruptcy filing is rarely publicized and the risk of anyone finding out about a filing is relatively low. Further, bankruptcy laws strictly prohibit discrimination based on the status of a filing.  … Read more

Foreclosure scams have popped up around the country as more homeowners struggled to find solutions in recent years. Despite legitimate mortgage debt relief solutions, many people fell victim to what appeared to be reputable companies offering help. As the industry continues to suffer at the hands of mortgage debt, increased efforts have been aimed at  … Read more

Many people have been forced into bankruptcy or ended up in foreclosure over mortgage debt troubles in recent years. As more people began to seek help problems in lending practices arose, causing further trouble for homeowners. After a long battle, several big banks were ordered to participate in a $25 billion mortgage settlement. Helping Homeowners  … Read more

Lending giants Fannie Mae and Freddie Mac have had their fair share of the spotlight in recent months. As the mortgage crisis struck in 2008, both of these companies took a huge hit profitability. When the foreclosure crisis began to stir up more trouble the fate of these companies became unclear. First Quarter Profit Fannie  … Read more

This week marks an important week in the fate of the American Airlines bankruptcy case. After the executives spent time pleading their case in bankruptcy courts this week, employees are taking to the picket lines to speak out about their futures. Voicing Concerns American Airline employees will be picketing outside of the Dallas-Fort Worth headquarters  … Read more

Filing for bankruptcy is a detailed process that often requires numerous documents about your financial situation. If you are self-employed you may lack the necessary documentation, making your case a bit more challenging. A Paper Trail The bankruptcy process requires proof of your income and previously paid taxes. Typically, the last 60 days of your  … Read more

A foreclosure is typically the last type of house a buyer wants to consider when shopping for a home. Although there are some great deals to be found among foreclosures, there are also plenty that have some considerations before buying. Cautious Preparation One of the biggest issues surrounding the purchase of a foreclosure is the  … Read more