Latest on the Bankruptcy Blog

When you’re up to your neck in loans, mortgage payments, and credit card debt, the two main options to restart your financial life are a Chapter 7 or Chapter 13 bankruptcy. While many debtors flirt with this idea, the reality is that it can be a complex legal and financial decision. In fact, it can  … Read more

Mitzi Osborne, the widow of Jennings Osborne, a renowned Little Rock businessman, has filed for a Chapter 7 bankruptcy. According to the bankruptcy petition, Ms. Osborne owes $1.2 million and has approximately $1.5 million in assets. However, during her initial Chapter 7 filing, Ms. Osborne reportedly excluded a few of her financial details. In the  … Read more

As the economy and housing market continue their rebound, new reports show that nationwide foreclosure rates are at their lowest level since 2006. While this is generally good news for homeowners struggling with mortgage debt, the reality is that foreclosure still remains a challenge for many homeowners. Approximately 57, 286 homes were foreclosed upon last  … Read more

This week in bankruptcy  news: A video game production company finally sees an end to their 8 month bankruptcy case as a judge approves asset liquidation to resolve debt obligations to creditors. Meanwhile, the Phoenix-area reports a continued dip in bankruptcy filings; a pattern also seen nationally in the first two quarters of this year.  … Read more

If you’re buried under mortgage debt, understanding the full array of options available for your financial situation can help you get back on track with your payments. For homeowners, two of the most popular options are mortgage modifications and refinancing. Many borrowers must carefully look at these two options to determine the best choice for  … Read more

Though there are many factors, such as miscommunication and infidelity, that can lead to divorce, financial disagreements or struggles remain the top causes. While many might not know it, the high divorce rates in America often intersect with bankruptcy filings. If you’re in the midst of a divorce and Dallas bankruptcy, the emotional and legal  … Read more

Filing for a business bankruptcy could be the jolt that your company needs to reestablish itself. Remember, major companies, such as Kodak, Delta Air Lines, General Motors, and many more, have succeeded after they filed for a business bankruptcy. However, even if you work with a bankruptcy attorney, a few missteps could nullify the benefits  … Read more

In an attempt to help homeowners struggling with mortgage debt, the government recently revealed HAMP, the Home Affordable Modification Program. While HAMP has helped hundreds of thousands of homeowners throughout the nation avoid foreclosure, it has posed some complications as well. Should you choose to handle your mortgage debt through a program such as HAMP,  … Read more

If you’re filing for a Texas bankruptcy to regain control of your finances, consider waiting until your financial situation stabilizes before taking action. When filing for a Texas bankruptcy, timing is everything and waiting a few weeks could completely transform your fiscal life. Pre-emptively filing for a Texas bankruptcy could spell doom if your finances  … Read more

National data shows that mortgage debt problems are alleviating for homeowners throughout the nation, but not all states are experiencing the same levels of improvement. Despite reports showing an improving housing market, Ohio experienced over 90,000 foreclosures throughout the whole of 2012. A conference was recently held in Cleveland to identify why Ohio still faces  … Read more