Latest on the Bankruptcy Blog

According to LendingTree research, more than a 1 in four of Americans don’t have a set strategy for paying off their debt. As U.S. household debt exceeds $15 trillion, this is a major national issue. Although there is a lot of advise aimed at reducing debt, having a plan to do so is the most  … Read more

Debt is not a modern concept. History documents that debt forgiveness programs have been around for as long as the idea of debt itself. For example In Greece, there was a procedure in place for a lender to recover their losses when a borrower defaulted on their payments, which resulted in the temporary enslavement of  … Read more

There are a number of ways that you can lower your taxable income. Some of the most common methods include: 1. Increase Your Deductions One of the easiest ways to lower your taxable income is to increase your deductions. This includes things like contributing to a 401(k) or IRA, paying interest on your mortgage, and  … Read more

In the last few weeks there has growing concern over the state of the economy and future of the financial impact to citizens. As inflation began to rise earlier this year, economists  have been predicting the potential for financial control techniques to curb the rising costs of goods and services. One of these methods involves  … Read more

It is no secret the economy has been turbulent in recent months. The increasing mention of inflation has many concerned about their financial future. Many more are often unaware of what it is or how it could impact our day to day lives. Inflation is a term used in economics to describe the general rise  … Read more

It is no secret that the country is experiencing a rise in inflation. Although there is no one single cause, many factors contribute to the current situation. For many Americans, the day to day experience of inflation is more real than the knowledge of what it is and how it comes to be. What is  … Read more

Why are the mortgage interest rates going up? The mortgage interest rates are going up because the Federal Reserve is raising the federal funds rate. The federal funds rate is the rate at which depository institutions lend reserve balances to other depository institutions overnight on an uncollateralized basis. The federal funds rate is important because it  … Read more

The Department of Justice modified the necessary living expense thresholds on April 1, 2022, to reflect a national standard for all bankruptcy cases filed in the United States. A necessary living expense threshold is the point at which an individual’s expenses exceed their income and they are unable to pay their debts. Depending on household  … Read more

A rapid rise in the cases of debt collection lawsuits has both citizens and legal personnel in Texas concerned. The Texas court system is being overrun by debt collection lawsuits filed against citizens that are behind on payments or in debt default. The consequences of this wave of lawsuits are expected to reach far beyond  … Read more

Falling behind on your taxes and having to cope with the IRS’s penalties may be a difficult situation that affects every aspect of your life. Fortunately, you have a number of choices for reducing or eliminating your tax due with the IRS. Overwhelming tax debt isn’t an unsolvable problem, whether you tackle it yourself or  … Read more