Latest on the Bankruptcy Blog

In an effort to better educate consumers about the options available to help prevent foreclosure and resolve mortgage debt, the U.S. Department of Housing and Urban Development has launched a new campaign. The National Mortgage Settlement outreach project is designed to be a one-stop shop for anyone suffering with mortgage debt and offers a brochure  … Read more

In today’s economy, there isn’t much room for error in business. The retail market is far from what it once was and many retail stores aren’t able to withstand the lack of consumer spending. Motif Modern Living is one furniture retailer who has learned the hard way that people today simply aren’t spending money on  … Read more

Creditors can be very intimidating and persistent when it comes to debt collection. They may threaten wage garnishment or legal action. While some creditors do go as far as obtaining a court order to collect on the debt, a recent report suggests that these lawsuits are often flawed and full of holes. Consumer Awareness Most  … Read more

Texas bankruptcy laws are quite forgiving compared to some states. One example is the Homestead exemption law that allows for homeowners to protect homes of an unlimited value, whereas other states may place a value cap on which homes can be exempt from liquidation. However, in order to take advantage of some of the more  … Read more

Foreclosure. It is a word that strikes fear in the heart of every homeowner. While some people are not able to escape the unfortunate reality of losing their home to mortgage debt troubles, it doesn’t always have to end in foreclosure. It’s Not Just Giving Up A deed in lieu of foreclosure essentially means you  … Read more

You may have heard the saying “Cash is King”. While this statement may hold a lot of power, it certainly isn’t the rule. In fact, there are situations in which cash isn’t always the best option. Cash or Credit? Debt is a growing problem in America and the average family holds over $10,000 in credit  … Read more

Tax debt is one of the most stressful types of debt for many Americans, second only to medical debt. While owing the IRS money can be serious business, it doesn’t have to be difficult to resolve. In fact, there are several ways to enter debt negotiations with the IRS and obtain a favorable outcome. Simple  … Read more

The previously Swedish automaker, Saab, was bought by General Motors in 2000. However, GM has struggled to maintain profitability in all of their brands in recent years. After being sold to Dutch owners in 2010, the new Saab owner has found themselves unwillingly in bankruptcy court in December of last year. Competition Sparks Controversy The  … Read more

The bankruptcy process can be quite liberating for anyone who has suffered with tremendous debt and damaged credit. While having debts discharged in bankruptcy can provide a fresh start, there are still some actions required to gain an advantage in the future credit world. Getting On Track The first place to start after your Dallas  … Read more

This week some important decisions were made in the American Airlines bankruptcy case. After tense contract negotiations with union members and talks of a buyout, the presiding judge handed down a game-changing decision. Notable Moments A federal bankruptcy judge has handed down a decision that is the first of its kind in history. Having blocked  … Read more