Latest on the Bankruptcy Blog

This week in bankruptcy news: the American Airlines bankruptcy case makes significant progress as the company agrees to an $11 billion deal to merge with US Airways. Pending bankruptcy court approval, this merger would mark the largest in the history of the airline industry. Also, the award-winning visual-effects company, Rhythm & Hues filed for Chapter  … Read more

When applying for a credit card, it is important to understand the credit score. Failure to understand how scores work can lead to debt negotiation. Understanding the application process is just the first step in an overall healthier attitude towards credit. Knowing how scores work will help you maintain and keep your credit vibrant for  … Read more

There are some debts that do not qualify for a bankruptcy discharge. Does this mean they can’t be managed? The answer is, not necessarily. There are some ways to handle debts that cannot be discharged in bankruptcy. Difficult Debts Student loans, some tax debts, and domestic support obligations are all common examples of debt that  … Read more

If you’re filing for bankruptcy, and have already dealt with the credit counselor or other form of financial counseling, you may be in the market for a bankruptcy lawyer. It’s important to understand what a lawyer of this type can do for you. This post will go over some basic things you can expect every  … Read more

When dealing with loans, you’d be interested to find out about loan modifications. The process of loan modification is not necessarily an easy one, but it is relatively simple to figure out whether you are eligible to modify your pre-existing loan. Determining if you are eligible for a loan modification is an important step in  … Read more

If you’re looking at filing for bankruptcy, have already dealt with bankruptcy, or simply have an interest in financial history, it is well worth it to look into the history of bankruptcy. When dealing with something as complex as the bankruptcy process, you could expect the history of this process will be filled with interesting  … Read more

The bankruptcy process is one filled with specific guidelines. Not intended to be difficult, these guidelines are in place to protect both the debtor and the system from abuse. Therefore, anyone considering filing for bankruptcy should be aware of some of the potential snags in the process. In a Chapter 13 filing, even small changes  … Read more

While bankruptcy might seem like an overbearing proposition, it is important to know that there are also exemptions available to those filing for bankruptcy. Generally, exemptions will protect some of your property and assets from collection by creditors, which is good for those dealing with bankruptcy. Exemptions can be a great relief to those dealing  … Read more

With so many financial decisions hanging over our heads each day, the idea of debt counseling becomes enticing. After all, having help with debt relief efforts can be the difference in a successful outcome or a return to the bottom of the debt barrel. However, not all debt counseling services are created equal and some  … Read more

The Bakers Footwear Group is looking to convert its already-filed bankruptcy to Chapter 7 status. This bankruptcy conversion will allow Bakers to stay in business while it proceeds with liquidating its assets. Initially, CEO Peter Edison was hoping to transform the company, which was started by his grandfather, into a smaller change after the bankruptcy  … Read more