bankruptcy blog

A vehicle payment is the most common type of consumer secured debt. Having easy access to a vehicle is essential for most of us to get to our jobs, schools, doctors appointments, grocery store, etc. We often pay for this convenience in the form of a car payment. When we get behind in the vehicle  … Read more

When you file for bankruptcy, the court will be interested in the kind of debt you have. If you have a lot of unsecured debt, you may want to file Chapter 7, or liquidation bankruptcy to have those debts discharged. If on the other hand, you have a home and vehicle you would like to  … Read more

Often when we are facing unexpected or unmanageable debt, we look for other areas in our finances to get money. We think that we can get out from under the debt that we are struggling to pay each month by using credit cards, or loans from banks or family. Sometimes we are tempted to liquidate  … Read more

It can be very stressful when you are struggling financially, and the government wants you to pay a large tax debt. Some of us believed that once you owe the IRS money, they will never forget and hound you forever adding fees and penalties until you can finally pay it off. Fortunately, this is not  … Read more

Exemptions or exempt property in a United States bankruptcy case is where a debtor is permitted to keep certain property from unsecured creditors such as personal belongings, your home, vehicle, tools needed to perform your job, or retirement plans. The amount of property a debtor may keep depends on the state in which they live.  … Read more

Bankruptcy is a tool used to help eliminate troublesome debt, however, what happens if you are on the creditor side it can be distressing. While many individuals do not ever believe this will happen to them, it happens quite often every day when individuals pay a large down payment to a general contractor for work  … Read more

After three long years, the nation’s most extensive radio network, iHeartMedia, has finally received the approval of Houston Texas Bankruptcy Judge Marvin Isgur to exit bankruptcy. The US-based radio station owner originally filed for Chapter 11 bankruptcy protection in order to decrease its $20 billion in debt. IHeartMedia Bankruptcy Financing For companies with a considerable  … Read more

During the process of a foreclosure, the mortgage lender can take possession of the property that the homeowner is in default. The procedure varies by state and can take anywhere from one to seven months to complete. Although a lender can legally start foreclosure proceedings with the first miss payment, that usually doesn’t happen. Foreclosure  … Read more

To qualify for bankruptcy relief, you must attend mandatory credit counseling. Unless you are in the military on active duty, have a disability that prevents you from participating or incapacitated in some way, you will have to complete the counseling within 180 days of filing for bankruptcy. Non-Profit Credit Counseling Agency The reason for the  … Read more