Latest on the Bankruptcy Blog

You signed up for credit cards to help you out of your financial situation, but now your cards have created a financial mess of their own. What are the possibilities to escape? Fortunately, credit negotiation is not as difficult as you might think, and if done properly can greatly alleviate your financial predicament. By taking  … Read more

Debt is tricky business. It can either help you or hurt you, and the tipping point often comes when financial hardship strikes. Good debt doesn’t have to become bad debt, if you know how to survive a financial hardship. Winning Strategies The best way to stave off the effects of financial hardship is planning. This  … Read more

The decision to file for a Texas bankruptcy can be a difficult one. Unfortunately, filing for Chapter 7 or Chapter 13 may become unavoidable, and people quickly wonder how the bankruptcy will affect their credit score. Surprisingly, the effects of bankruptcy don’t have to be as damaging as you fear. Proper money management can improve  … Read more

On Monday March 4, 2013, the popular North Texas-based Snuffer’s Restaurants Inc. announced that it had filed for Chapter 11 bankruptcy protection. In a public statement, an attorney said that the debt brought on by the national recession is what led to the Dallas bankruptcy. Snuffer’s, a local family-owned chain, operates throughout the Dallas-Fort Worth  … Read more

Student loans are now the number one source of debt in the nation, outweighing credit card debt for the first time. Though many struggle to pay back the nationwide $1 trillion owed for higher education, there is very little relief offered. In fact, some would say it’s almost impossible to have student loan debt forgiven.  … Read more

Receiving a statement from the Internal Revenue Service for tax debt can be a surprising experience. Aside from the pressure of having to deal directly with the IRS, people might be caught off guard by the penalties and interest added to their tax debt. If left unmanaged, tax debt with the IRS could result in:  … Read more

The debt relief industry is full of options for consumers looking to get out from under the pressure of overwhelming debts. Debt relief agencies come a dime a dozen, and there is also no shortage of bankruptcy attorney’s serving clients pursuing that option. For the consumer, it can be difficult to know which bankruptcy attorney  … Read more

This week in bankruptcy news:The Hualapai Tribe lost a court battle against Las Vegas developer David Jin, who was hired to build and manage the Arizona tourist attraction in 2003, putting the managing company into bankruptcy. Treasure Hunter Tommy Thompson’s company, Columbus Exploration LLC, is being forced into bankruptcy in attempt to collect funds that  … Read more

Even after seeking a loan modification or professional guidance, a home foreclosure sometimes becomes unavoidable. Whether you’re working to avoid a foreclosure or have recently experienced one, it’s important to understand how it impacts your credit score. Unfortunately, credit bureaus are often uncommunicative about exactly how mortgage delinquencies affect credit scores and history, so the  … Read more

When it comes to dealing with your debts in bankruptcy, there are a few important aspects you should know. One area that can arise intentionally is the area of bankruptcy fraud. Even some actions can unknowingly be considered fraudulent, leading to serious consequences. The best way to minimize your risk is through the power of  … Read more