Latest on the Bankruptcy Blog

Hostess company executives have been working diligently in the Chapter 11 bankruptcy process to restructure and move forward from an overwhelming debt burden. Having placed considerable financial blame on union obligations, Hostess presented a final contract offer to employees back in August that was hoped to lower operating costs. Since then, labor strikes have ensued  … Read more

One of the leading sources of large debt burdens by Americans today is medical bills. With meager healthcare options and high premiums, many people are underinsured, or uninsured all together. When illness or injury strikes, many people can walk away from a simple emergency room visit with thousands of dollars in debt liabilities. Getting Financially  … Read more

The IRS; a daunting creditor. If you owe money to the IRS you are in both a stressful and unique position for debt negotiation. While the IRS is notorious for implanting quick and steep consequences for unpaid taxes, you do have some control in the matter. Best Foot Forward Negotiating with the IRS over your  … Read more

Having your wages garnished for purposes of satisfying a debt is serious business. While obtaining a garnishment order can be a lengthy court process for the creditor, it is often difficult to resolve once implemented. In fact, chances are you won’t be able to recoup the money lost through garnishment orders. However, you can take  … Read more

In recent months the talk over reverse mortgages has gained momentum. With the new found refinancing craze in full swing, many lenders are also pushing reverse mortgages. But, what are they really about? A Closer Look One of the “perks” often described by advocates of reverse mortgages is quick cash. Basically, a reverse mortgage is  … Read more

Today’s economy is certainly challenging many of us, and is impacting the entire family more than you might suspect. Children are always watching what we do as parents, which is why it is important to think about the message you are sending to your kids at all times. While a bankruptcy may seem scary, it  … Read more

Many families already dealing with mortgage debt problems will be facing additional struggles as they return to survey the damage left by Hurricane Sandy. The Governor of New York has issued a state-chartered program to help mortgage borrowers affected by the storm. Delaying Debt Troubles Banks and mortgage service providers will be delaying foreclosures and  … Read more

The nation’s oldest film and photography company has been working to resolve debt liabilities in Chapter 11 for nearly a year now. After several ups and downs, their bankruptcy case has reached a conclusion. End Of An Era For the better part of a year, Kodak has been working to resolve its financial troubles in  … Read more

Many people considering bankruptcy often worry about their benefits and whether these fund will be protected. While the bankruptcy process can’t protect everything, it certainly protects the important stuff like government or retirement benefits. Bankruptcy Exemptions The bankruptcy code allows for most of the important assets to be protected from liquidation in bankruptcy, including certain  … Read more

While you may find it surprising to think that a minor could have credit problems, the truth is that there are many instances in which minors have turned 18 only to find their credit in poor standing. How can this happen? and What can you do to prevent it? Be Mindful With the information and  … Read more