Latest on the Bankruptcy Blog

This week in bankruptcy news: A bankruptcy judge approves the sale of Hostess’ assets to satisfy debt obligations, and the Casey Anthony bankruptcy case takes a publicized turn for the worse when the trustee asks the court for permission to sell her life story in order to settle her $800,000 debt to creditors. Read the  … Read more

One of the most crushing debts that Americans face is their mortgage. When homeowners fall behind on their mortgage, it’s often difficult to reestablish financial stability. If the situation continues to destabilize, homeowners exploit all their options to avoid a foreclosure and other consequences. The most popular option is to seek a mortgage modification. This  … Read more

One of the prevailing concerns for individuals who file for bankruptcy is whether or not they lose their house in the process. Furthermore, homeowners struggling with mortgages have the decision to “reaffirm” their mortgage, but this isn’t a mandatory determinant to keep their home. If the equity in the house and property is exempt during  … Read more

With credit card debt averaging a staggering $7,122 per person, it is no wonder that credit counseling agencies have grown in popularity over recent years. Despite their promises of reducing debt and reestablishing financial health, there are many credit counseling agencies that are shady or flat-out bad. When facing unbearable credit card debt, many Americans  … Read more

As one of the Dallas-Fort Worth leading bankruptcy specialists, the Lee Law Firm has been serving residents in their quest for debt relief for quite some time. As part of our initiative to continuously improve customer service, the Fort Worth bankruptcy office location just got a face lift. Light Up The Skies One of the  … Read more

The latest American Bankers Association report shows that the financial health of the nation is improving, as credit card delinquencies reach a two-decade low. Credit card delinquencies are defined as accounts that are 30 days or more overdue on their payments. In 2009 after the financial crisis, credit card delinquencies set a record high of  … Read more

While individuals and businesses discuss the options presented by Chapter 7 and Chapter 13 bankruptcy, Chapter 11 provides debtors opportunities to restructure their payment plans that the other options won’t provide. Designed for businesses struggling with their finances, Chapter 11 allows debtors to continue running and profiting from their business. While a Chapter 7 bankruptcy  … Read more

Stockton, California has officially become the first major city in the United States to file for bankruptcy. On the first of April, a federal judge ruled that Stockton is eligible for financial protection through bankruptcy. After filing for bankruptcy, Stockton made their case that the city is broke and US bankruptcy Judge Christopher Klein agreed.  … Read more

Since student loans are the only type of debt that cannot be discharged through a bankruptcy, it’s important for college students to learn how they can minimize their debts. By avoiding debt, students are laying the foundation for a stronger financial life and preventing future hardship. However, avoiding debt isn’t limited to strategizing how to  … Read more

Missing a payment or overwhelming your credit card with charges are obvious ways to hurt your credit score, but there are some surprising credit score factors as well. Whether you’re looking to improve your credit or are trying to safeguard yourself from credit debt, keeping these factors in mind will keep your financial profile safe.  … Read more