Bad economic news abounds these days. The financial markets in New York are in crisis. Lending sources are drying up. Foreclosure rates are higher than any time since the Great Depression. More and more consumers and businesses are seeking bankruptcy protection in federal courts as they struggle to make payments on the record amount of [...]

Stopping foreclosure proceedings on your home should be a top priority. A bankruptcy attorney can help you keep your home and avoid foreclosure. Owning your own home has always been part of the American dream. Sometimes unforeseen circumstances can lead you to fall behind on mortgage payments, including a medical crisis, loss of employment, divorce [...]

The Jefferson County Commission in Alabama has told its attorneys to prepare a bankruptcy filing in case it cannot reach an agreement on how to escape from the county’s over $3 billion of bond debt. The county, which includes Alabama’s largest city, Birmingham, is prepared to file Chapter 9 Bankruptcy if it cannot reach an agreement [...]

A settlement reached between Countrywide Financial Corp. and a bankruptcy trustee in Western Pennsylvania could affect an investigation into the company’s mishandling of payments from bankruptcy trustees across the country. Roberta DeAngelis, acting U.S. Bankruptcy Court Trustee for Delaware, New Jersey and Pennsylvania, filed court papers asking to modify an agreement proposed to resolve allegations that [...]

Democratic presidential candidate Senator Barack Obama is advocating changes to the current bankruptcy system in speeches on the campaign trail. Senator Obama recently unveiled some of his new bankruptcy ideas which include easing bankruptcy laws for elderly homeowners, disaster victims, military families, and other individuals who have become overwhelmed with debt. One of Obama’s new provisions [...]

Ask why someone might file bankruptcy; many would give reasons like business failure and out of control spending. While those are some valid reasons, there are others such as loss of employment. There is also one other major factor contributing to bankruptcy and foreclosure filings - health care. Skyrocketing Healthcare Costs In 2007, the US spent $2.3 [...]

Bankruptcy is still a frightening and embarrassing situation for many people. The dictionary doesn’t help when it gives definitions like: “utter ruin, failure, depletion”. No wonder so many people won’t consider bankruptcy until it’s the last resort. What is bankruptcy? Simply put it’s “being legally insolvent” or an “inability to discharge all your debts as they [...]

In recent years, credit card debt has skyrocketed nationwide as the economy has declined. Foreclosures are on the rise in Texas and across the country. Many Dallas area consumers find themselves in serious financial distress, which have many considering filing for bankruptcy in order to gain a fresh start. Everyone knows they need to do something, [...]

In the United States, many of us are taught failure is not an option. And when it comes to financial difficulties, bankruptcy seems to be a major failure. However, financial disasters can happen to anyone and many times from situations beyond our control. You may now find yourself dealing with creditor calls, collection notices, [...]

Filing a Bankruptcy may improve your credit if you have bad credit. However, if you have good credit, then bankruptcy may not be the best option. Bad credit usually happens after some form of bad luck. Losing your job or a major cut in pay will change a good paying history in a very short [...]