Latest on the Bankruptcy Blog

Many tax debts are not able to be discharged in bankruptcy, but some are. Federal taxes in particular are not dischargeable, and if a large part of your outstanding debt consists of federal tax debt, it may make a big difference in whether you choose to file for Chapter 7 or Chapter 13 Fort Worth  … Read more

Mortgage modifications help hundreds and even thousands of homeowners get out from their crushing mortgage debt through refinancing or loan modifications. However, there are many common blunders people make when looking at mortgage modification as a solution to their debt crisis. Refinancing With Care Refinancing a mortgage can result in a lower monthly payment and  … Read more

Before filing your Dallas bankruptcy, it is mandated that you complete a credit counseling course. This is a mandatory step toward filing for bankruptcy whether it is Chapter 7, Chapter 11 or Chapter 13, but it is also a useful service for many individuals who may need guidance in their personal or business finances, and  … Read more

There is a wealth of information out there about Chapter 7 bankruptcy, but sometimes it helps to start at the very beginning. By understanding just what Chapter 7 bankruptcy is and what it can and can’t do for you, you can take the next step toward deciding whether filing Texas bankruptcy is the right move  … Read more

The Michigan State Housing Development Authority has announced a new effort to help homeowners avoid foreclosure with its tax delinquency relief program. The MSHDA hopes that this effort will reach homeowners suffering from inability to make payments, ease mortgage debt, and hopefully prevent the number of foreclosures from rising. Easing Mortgage Debt First Priority The  … Read more

Whether citing corruption, mismanagement, depopulation, the plight of the American auto industry, income inequality, or any of a host of other explanations, the bottom line for Detroit has been a financial catastrophe and inability to function that has resulted in the largest municipal Chapter 9 filing in America to date. Some experts and bankruptcy lawyers  … Read more

This week in bankruptcy news: an antitrust lawsuit delays American Airlines’ bankruptcy exit through  merger with US Airways; and Detroit’s Chapter 9 case meets more opposition as employee pension funds object to proposed budget cuts. Read the full stories below: AMR Bankruptcy Judge Delays Decision on Exit Plan Detroit pension funds to object to city’s  … Read more

New data shows promising trends in California, where the foreclosure rate is down to its lowest in years. According to information from data bureau DataQuick, the rate of foreclosure starts (the first step in the foreclosure process) is down over 50% from previous quarters and over 60% from the previous year. This is very promising  … Read more

Medical debt has outpaced credit card debt and unpaid mortgages as the leading cause of filing for bankruptcy in the United States. According to the latest surveys, nearly two million people are expected to file for bankruptcy due to astronomical unpaid medical bills. Luckily, filing for bankruptcy can help ease some of the burden, and  … Read more

In today’s erratic housing market, many homeowners are finding themselves saddled with mortgages they simply can no longer afford. If you find yourself in a situation in which your mortgage payment is threatening your livelihood, it is good to know that you have options. Consulting with a foreclosure attorney is always a great step, whether  … Read more