Latest on the Bankruptcy Blog

The 1 trillion dollars student loan debt problem is one of many facing U.S. Congress today. With close to 5 million borrowers already in default, the issue of how to resolve the economic crisis has turned to focusing on collecting what is owed. Since bankruptcy is not typically an option for dealing with student loan  … Read more

This week there have been talks about two big names, Google and Apple, interested in purchasing some patents in the Kodak bankruptcy sale. Also in discussion,  the possibility for Detroit to file for Chapter 9 municipal bankruptcy, and the conclusions in the A123 bankruptcy sale. Apple, Google Join Forces to Buy Kodak’s Digital Imaging Patents Detroit ‘bankruptcy  … Read more

As the year comes to a close, many of us have yet to think about our taxes due in just a few short months. Like so many other aspects of our financial lives we often put stressors like debt out of our mind until forced to deal with it. Unfortunately, this is a poor strategy,  … Read more

As the housing market continues to inch towards improvement, a backlog of foreclosures continues to slow it down. Industry analysts are now suggesting that one of the foreclosure laws intended to protect consumers is partially to blame for this clog in the system. Judicial vs. Non-judicial Foreclosure States have variations in their foreclosure laws, one  … Read more

Four years ago, the nation’s largest insurance group was on the brink of filing for bankruptcy. However, the largest government bailout of the 2008 financial crisis was able to rescue to company from the edge of financial collapse. Since then, AIG (American Insurance Group) has been working to repay its debt obligations of upwards of  … Read more

A common fear among debtors considering bankruptcy is the idea of losing assets. This concept is often generated by a myth, and is misleading. While some of your nonessential assets could be used to satisfy debts in a Chapter 7 case, there is no guarantee of such. In fact, Texas bankruptcy laws offer a wide  … Read more

As the year comes to a close there are many things to start thinking about in the new year, one being your taxes. Tax time comes quick after the New Year and could bring a hefty tax debt bill if you aren’t prepared. One way to avoid owing the IRS is to take a look  … Read more

Former All-Star New York Mets outfielder Lenny Dykstra is already serving jail time for various other criminal convictions, but he now is adding another crime to his sentence: bankruptcy fraud. Strike Out Dykstra was indicted on three felony counts, including bankruptcy fraud, concealment of assets and money laundering earlier this month. Originally facing a two  … Read more

In efforts to help homeowners suffering with mortgage debt troubles, the government has enacted several programs to reduce the number of families that could face foreclosure. One source of foreclosure help has been in the form of short sales through The Home Affordable Foreclosure Alternatives Program, which has recently been extended another year. Another Chance  … Read more

It is unfortunate that many marriages often suffer at the hands of unmanageable debt. Money troubles are the number one threat to many marriages, often leaving the couple facing a tough time when it comes to managing these debts in a divorce. As for filing bankruptcy, there are some things to consider about the timing  … Read more