bankruptcy blog

While just about everyone these days has an opinion on who will probably win the coming Presidential election in November, there are just as many opinions on exactly what will happen when that comes to fruition. Some think things will get better economically if their candidate proves successful while others still firmly believe that the end  … Read more

The history of bankruptcy in America is a relatively young one. Over the course of the past 100 years, the amount of people who have resorted to seeking protection through bankruptcy has grown exponentially. In the very first part of the 20th century relatively few people sought bankruptcy protection with a mere 0.15% per 1000  … Read more

No matter where in the world you live, a diagnosis of a life threatening or life altering disease or accident can leave a family and individual shaken to the very core. Having to fight for your own life or for the life of a loved one is truly unimaginable for most people. In the vast  … Read more

Everyone understands that credit card companies and the banks that underwrite them are in business to do one thing and one thing only, make money. The days of the community banker who lent money to others in his or her own community to start and maintain business are long over. These individuals had a vested  … Read more

Many people are under the firm impression that by seeking bankruptcy protection they are simply exonerated from any and all debts that have incurred. This is a fallacy that remains very strong even today. There are many types of debt that will not simply be wiped out by going bankrupt. No matter whether you are  … Read more

Bankruptcy proceedings, like many things that are misunderstood, are replete with myths and urban legends that are simply figments of someone’s over active imaginations, yet have gained a strong hold in the folklore surrounding the subject. One of the most common myths holds that if you are going to go bankrupt you can go on  … Read more

For many people the notion is that a debt is a debt and there is nothing to distinguish between one creditor and another, but this is an assumption that is incorrect. There are distinctly different types of debt and debtors. There are some debts that are known as “secured” debts that differ completely from other  … Read more

When you file for a Chapter 7 bankruptcy and have secured personal property loans, you have a choice as to whether you want to relinquish the item be it a car, furniture, electronics or something similar or reaffirm the debt and continue paying for the item even after your discharge. The opportunity to renegotiate the  … Read more

You had what you thought was a great idea and put your heart and soul into getting the business off the ground but despite all the hard work and toil you have found yourself on the ropes financially with a  load of business related debts. What is your next step and where do you turn?  … Read more

For most citizens the thought of going bankrupt is a scary and unknown area that conjures up thoughts of having all your possessions seized by the courts and liquidated to appease the creditors waiting in the wings with gleefully maniacal smiles and hands rubbing together in anticipation. The flip side is the people who believe  … Read more