Latest on the Bankruptcy Blog

Scam artists target many different segments of our society and students struggling with debt is no exception. While student debt relief has been a long time hunting ground for individuals to victimize people, with student loan debt in America reaching an all-time high of $1.4 trillion, it seems that more financial scams are arising than  … Read more

When you file bankruptcy, the court issues specific rules, and if you don’t follow those guidelines, or abuse the bankruptcy process in generally, the bankruptcy court may dismiss your case with prejudice. Taking a step back, when your bankruptcy case is dismissed, the court stops your bankruptcy proceedings without discharging your debts, which essentially ends  … Read more

Last month, the Governor of New Jersey signed a law that will limit the amount of money that a college student can borrow from the state’s student loan program. The law comes after allegations that the state was utilizing predatory lending practices. Among the new law’s rules: college students in New Jersey will be allowed  … Read more

iHeartMedia Inc. is a mass media company headquartered in San Antonio, Texas and was founded in 2008. The company’s main offering includes radio broadcasting services and owns more than 850 full power radio stations throughout the US, making it the nation’s largest radio station owner. The company also offers outdoor advertising through its subsidiary Clear  … Read more

July 13, 2017 marked a sad day in the wedding business, as Alfred Angelo Bridal, one of the world’s largest manufacturers and retailers of wedding dressed filed for Chapter 7 bankruptcy liquidation and immediately closed all of its stores. The Florida based company included a national chain of 60 of its own stores and 1,400  … Read more

Overspending, loss of a job, medical bills, and lack of savings are amount the top reasons for debt in America. Additionally, high household debt levels are still normal and haven’t changed much since the financial meltdown of 2008. While some forms of debt are avoidable and some aren’t, debt is most likely something that the  … Read more

A Springfield Illinois Man, Mark A. McFarland, 58, plead guilty in February of this year to two counts of bankruptcy fraud in U.S. District Court in East St. Louis. Mr. McFarland, who has filed bankruptcy 10 times over the period of just five years learned his fate this week (of which 9 were dismissed due  … Read more

While Chapter 7 and Chapter 13 bankruptcies are designed to give individuals a fresh financial start by discharging debt and educating the filer on common financial pitfalls and how to avoid them, sometimes they find themselves facing similar financial difficulties and contemplating filing bankruptcy a second or even third time. You are able to file  … Read more

A credit counseling agency is sometimes sought out as an alternative to filing for bankruptcy. When you go to a credit counselor, you can expect them to review your financial situation and help you structure a plan to completely pay off your debt. A credit counseling agency will work to set up what’s called a  … Read more

While there are only a small number of non-exempt debts that cannot be eliminate through bankruptcy, generally back taxes are one of them. And while chapter 13 bankruptcy usually won’t eliminate back taxes, filing for bankruptcy can be beneficial for two reasons: they can give you more time to earn and pay the back taxes,  … Read more