Latest on the Bankruptcy Blog

Most of us carry two or more credit cards, each with balances over $5,000. While some debt is good debt, failing to manage our money properly or experiencing a financial hardship can easily send a good debt into a bad one. If you are one of many who depends on credit to make it each  … Read more

The electronics and appliance retail chain, Vann’s, filed for bankruptcy back in August after suffering continued drop-offs in sales. Now just two months into their Chapter 11 case, there is already a push to liquidate rather than restructure. Up In The Air The northern based retail chain has faced many obstacles, financially, in recent years.  … Read more

Since 2007, homeowners who were given mortgage debt cancellations by lenders, have been free of liability for that amount during tax season. However, the Mortgage Forgiveness Debt Relief Act is set to expire later this year and could have some serious consequences for already struggling homeowners. Loss Not Income When debts are cancelled, the IRS  … Read more

If you are considering filing for bankruptcy, it is important that you set yourself up for success. The best way to do that is by hiring a Dallas bankruptcy lawyer. Here is why: Consultation – a good bankruptcy lawyer will offer free consultations to their clients to review their records and determine whether bankruptcy is  … Read more

Taking out a mortgage can be scary business, especially in a time when foreclosures are rampant. The key to successful home ownership in a tough economic time is knowing how much you can afford and staying in a reasonable limit. Many people do this by using various mortgage calculators, but not all are the same.  … Read more

One of the unfortunate aspects of medical debt is that it is often a source of overwhelming financial burden. Even a short trip to the emergency room can leave you thousands of dollars in debt. While filing for bankruptcy is one way to resolve medical debts, there are some things you can do to try  … Read more

As parents, it is our responsibility to instill values and healthy habits in our kids. So why is it that few parents teach their kids about proper money management? The answer could be that we, ourselves, are not always the most savvy money managers.  However, teaching kids about money doesn’t have to be hard, it  … Read more

The United Way has been serving communities for decades. As one of the nation’s leading charity organizations, it is now reaching out beyond its current scope to help homeowners struggling to find foreclosure help. Now, one Indiana county is getting a “hand up instead of a hand out” to fight the mortgage crisis. Reaching Those  … Read more

You may be surprised to learn that many creditors have limited rights when it comes to collecting on a debt. Secure debts, like car loans and mortgages, can be seized and liquidated; however, unsecured debts, like credit cards and medical debts, do not have repossession rights. This means that their collection efforts are greatly challenged,  … Read more

For most people, managing credit scores is an issue that is left on the back burner. In fact, most people never experience credit concerns until they have been notified there is a problem or they have suffered a drop in credit rating. People in this category often have a more difficult time with credit recovery  … Read more