Latest on the Bankruptcy Blog

The Home Affordable Modification Program (HAMP) is one of the programs designed to help homeowners fight mortgage debt and avoid foreclosure. While the program did not live up to initial expectations, changes have been made recently to broaden the scope of assistance. Tier 2 As of June 1, 2012, new changes have been made to  … Read more

The decision to file for bankruptcy doesn’t come easy for most people, but making the choice to resolve your debts can be one of the best decisions you’ve ever made. There are many aspects to the Dallas bankruptcy process that are important to the outcome of your case and being prepared is the best way  … Read more

As one of the biggest Dallas bankruptcy cases, the American Airlines parent company has had to face some tough decisions and negotiations in recent months. Now that the company has won the right to make changes to employee pensions and eliminate more positions in federal bankruptcy court, employees are bracing for the aftermath. Lightening The  … Read more

Negotiating debts isn’t easy, which is why many people tend to shy away from the process. However, negotiating with your creditors can be the difference between being stuck under a giant debt load and possibly being forced into bankruptcy, or finding financial freedom from those debts. While the process may not be easy, it is  … Read more

Those who receive government benefits like Social Security or veterans assistance may be wondering what will happen to these funds if they file for bankruptcy. Although this is a valid concern, there is generally not anything to worry about. Income Determination The way bankruptcy works is by comparing your income to the total of your  … Read more

Bankruptcy is an effective tool of debt relief, but  many people assume it can be damaging. Actually, the opposite is true. In fact, what does the most damage to your financial situation is missing payments and ending up in default. While filing for bankruptcy is a method for improving your financial situation, there is still  … Read more

No one wants to deal with a debt collector, especially when they are experiencing a financial hardship. While it may be tempting to avoid collection efforts in hopes of developing a debt negotiation plan, it is important you answer at least one call. Why? Because they may have information about your account you need to  … Read more

Many people that are considering filing for bankruptcy in Dallas may be wondering which type of bankruptcy is the best option. While either can provide you with a fresh start, they both come with very different risks and benefits. Chapter 7 If you qualify for Chapter 7 bankruptcy chances are you have very little disposable  … Read more

Since the recession began in late 2007, we have witnessed several history making economic events. The foreclosure crisis, record breaking underwater mortgages, personal debt burdens hitting all time highs and issues of debt default inching higher each year. While some blame the change in bankruptcy laws in 2005 for part of the economic turmoil, others  … Read more

If you are facing foreclosure you are probably already dealing with additional stress and anxiety over the thought of losing your home. While there is some cause for concern and a call for action, it is important to know a few things about how to deal with the foreclosure process. Knowledge Is Power First, understand  … Read more