Latest on the Bankruptcy Blog

One foreclosure alternative that has gained interest in recent months is mortgage modification. While many people have heard of them, few people actually know what they entail or even how to go about applying for one. The key is preparation. Solid Ground Too often people rush into the mortgage debt relief process looking for a  … Read more

Many people are dealing with overwhelming debt burdens in today’s economy. With credit, medical and student loan debt rates on the rise, it is easy to see why many of us feel trapped by our financial hardships. It doesn’t have to be this way. In fact, there are several options that can help you find  … Read more

Your debts have been discharged in bankruptcy, now what? While it may seem risky to attempt new credit after bankruptcy, the truth is that new credit is exactly what you need to begin reestablishing yourself as a responsible borrower. However, there is a right and a wrong way to pursue new credit. Good Debts There  … Read more

No one wants to be harassed by creditors, but it does happen and sometimes in very abusive ways. Debt collectors are notorious for using threats or intimidation for collecting on credit debts. While your debts are your responsibility you don’t have to be subject to unfair collection practices. The best place to start when combating  … Read more

You may have been asked by a friend or family member to co-sign on a loan. Don’t do it! While it can be tempting to help out a friend or loved one in need, chances are you could be setting yourself up for some serious consequences. Just Say ‘No’ Think about this: why would someone  … Read more

For many people, financial hardships arise through uncontrollable circumstances. Being laid off at work, suffering from a medical condition or losing a spouse in death or divorce can all be factors that lead a person into a debt burden. When the unforeseen strikes, our finances often suffer. Where to Turn Filing for bankruptcy is generally  … Read more

Refinancing a mortgage is a hot topic right now as mortgage lenders are working hard to sell homeowners on the idea of lowering their mortgage payment. While a lower mortgage payment is enticing to any homeowner, refinancing isn’t the best decision for everyone. Considerations The first thing to consider when refinancing a home is the  … Read more

You may have heard that tax debts are not dischargeable in bankruptcy. The truth is that some tax debts are eligible for bankruptcy, but there are specific rules as to which debts qualify. Settling Tax Debts The IRS is one of the most dreaded agencies around. No one likes to talk about, deal with or  … Read more

Tough negotiations between American Airlines parent corporation, AMR, and the pilot’s union have continued over the last few weeks. Despite tough debt restructuring plans, the pilots are holding firm to their denial of alternative contract offers by AMR. However, the baggage handlers have decided to accept a new contract and avoid further negotiations. Proposal, Accepted  … Read more

The last few years has been spent juggling finances and struggling to maintain our debts as the economy has continued to challenge each of us. While some of us have been able to stay afloat, others have not been as lucky and many have succumbed to the foreclosure crisis. However, good things have come from  … Read more