Latest on the Bankruptcy Blog

Many homeowners who have fallen behind on their mortgage payments make the mistake of assuming that bankruptcy is part of the foreclosure process. However, it’s important to note that foreclosure and bankruptcy aren’t synonymous or interchangeable terms. A foreclosure deals specifically with debts pertaining to your home, while a bankruptcy covers all unpaid debts. The  … Read more

Every year millions of Americans request their credit reports, yet very few know exactly what to look for. When you receive your credit report, it’s important to also view it from the eyes of employers, lenders, and other financial leaders. Knowing exactly what to look for on your credit report will help you ensure that  … Read more

A recycling plant in North Bergen, New Jersey is filing for bankruptcy under Chapter 11. With assets totaling $10.5 million and liabilities at $13.6 million, the recycling plant has struggled to stay afloat in the midst of controversy. The plant has pleaded guilty to unlawful activity including illegal dumping. Their actions have resulted in approximately  … Read more

J.C. Penney’s recent financial struggles have caused market shares to drop. Throughout 2012, sales for J.C. Penney dropped approximately 31 percent throughout the United States in their stores, and online sales weren’t any better. Despite revamped marketing campaigns, the clothing brand has been unable to stop the loss of sales and revenue. In fact, J.C. Penney even  … Read more

This week in bankruptcy news: Former Supermodel, Janice Dickinson, files for bankruptcy after struggling to pay back a near $1 million in debt obligations for legal and cosmetic services. A D.C-based workplace consultant and furniture dealer faces an increasing number of creditor claims after their Chapter 7 filing last month. Read the full stories below:  … Read more

The most underutilized resource for debt management and financial advice is credit counseling services.  Many people have either never heard about credit counseling or they simply assume it is only for those seeking bankruptcy protection. While it is a pre-filing requirement for bankruptcy clients, there is much to be gained from anyone looking for financial  … Read more

With over a million non-business bankruptcy filings each year, it’s clear that Americans are continuing to struggle financially despite the sluggish economic recovery. While there are many reasons to file for bankruptcy, knowing the top 5 causes can keep you alert in case you’re treading dangerous waters. Despite recent legislation changes that have made it  … Read more

With mortgage defaults composing many of the Texas bankruptcy cases, it’s important for homeowners to know how they can protect themselves from potential pitfalls. Falling behind on mortgage payments is one of the most common pitfalls that leads to bankruptcy. Fortunately, homeowners that catch the warning signs early can take actions to safeguard their finances  … Read more

Individuals and families aren’t the only ones facing difficult financial times. Rumors of financial struggles surrounding Nashville’s Schermerhorn Symphony Center were realized this week. Recently, whispers concerning the Schermerhorn Center and the possibility of bankruptcy were circulating throughout Nashville. Now, it has been confirmed that the Schermerhorn Symphony Center has a deadline in April to  … Read more

Filing for a Dallas bankruptcy is a complicated process. Even if you trust the guidance of an experienced bankruptcy attorney throughout the process, there is room for errors that can ruin your case. By knowing the most common mistakes during the bankruptcy process, you can steer clear of these pitfalls and protect your financial health.  … Read more