Latest on the Bankruptcy Blog

The decision to file Chapter 13 Texas bankruptcy can be a complicated one. Advice on the subject can be mixed, making it hard to tell whether Chapter 13 Texas bankruptcy is right for you. Here, we will address a few common bankruptcy myths surrounding the filing process. Bankruptcy Myths: Repayment in Full One common myth  … Read more

Chapter 11 business bankruptcy is a reorganization plan for your business. It provides for the restructuring of debts and the continued operation of the business. For this reason, it is the most commonly filed type of bankruptcy for corporations and larger businesses. Where a sole proprietorship tends to be an extension of the owner’s skill  … Read more

This Friday, a judge is set to hear the next step in the city of Detroit’s Chapter 9 bankruptcy proceedings. If all goes according to the city’s plan, their filing for bankruptcy will be approved, and the city’s emergency manager, Kevyn Orr, will be able to move forward with a restructuring plan. The filing is  … Read more

Applying for credit cards is the same as applying for a loan, and as such should not be taken lightly. Banks will run a credit check and analyze your credit history before issuing you any kind of card. Here are a few simple things you can do, in order to ease the process of applying  … Read more

This week in bankruptcy news: a Canadian railroad company files for bankruptcy protection after liability obligations resulting from a tragic crash forced the company into insolvency.  Meanwhile, Detroit’s bankruptcy filing is running smoothly, and the city hopes to successfully exit their case earlier than expected. Read the full stories below: Montreal Maine Railway Files for  … Read more

The housing bubble burst in 2007, and people are still arguing about what caused it. But whether subprime lending, tax policy, deregulation, or the ‘mania’ for homeownership is to blame (and it is likely a mixture of all these causes and more), the fact remains that five years later, people are still feeling the aftershocks.  … Read more

A federal judge ruled on Friday that Detroit’s request to table three lawsuits filed by Ingham County creditors was valid, thus pushing aside a major roadblock in the city’s Chapter 9 bankruptcy case. This ruling overrode a previous ruling, which declared that Michigan Governor Rick Snyder had “trampled the Michigan Constitution,” and acted illegally when  … Read more

Student loan debt can be a crippling millstone around a debtor’s neck. Education costs have skyrocketed and loan debt has shot up as well, topping $1 trillion this past year. Now that a college degree is no longer a guarantee of earning power in the weakened economy, many college grads are facing terrifying amounts of  … Read more

If you are falling behind on your monthly mortgage payments and are struggling to meet minimums, or if you have already missed payments and are anxiously awaiting a letter from your mortgage servicer, it can be difficult to look at things from your lender’s point of view. Imagine you are the lender facing a non-paying  … Read more

Credit card debt in the U.S. is at nearly $1 trillion dollars. With credit card debt spiraling out of control, many are turning to credit counseling services for help in alleviating this debt. While many – even most – credit counseling services are legitimate, the increased need for counseling has sparked many unethical and even  … Read more