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Blog Posts in October, 2011

Home Prices May Fall as Foreclosures Resume

It looks like home prices are going to fall again as banks get ready to foreclose on millions of homes that have had their foreclosures delayed due to a one-year government investigation into mortgage ...
Continue reading "Home Prices May Fall as Foreclosures Resume" »

First Meeting of Creditors

Unlike business bankruptcy cases where you could easily spend hours in court, a Chapter 7 bankruptcy case is usually much simpler. While your lawyer can go to court for you most of the time, there is ...
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Bankruptcy Code Makes it Harder to Qualify for Chapter 7

In 2005 Congress enacted changes to the Bankruptcy Code that made it more difficult to qualify for Chapter 7 bankruptcy. One of the most important changes was the " means test " - a standard ...
Continue reading "Bankruptcy Code Makes it Harder to Qualify for Chapter 7" »

Dealing with Creditor Abuse

Do you feel like you are being harassed by your debt collectors? If you are like many people, you may not know that you actually have rights as a debtor. Understanding what these rights are may help ...
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Bankruptcy Judge Enlists Help of Mediator

After realizing that one of his cases had come to a brief standstill, one bankruptcy judge decided to bring in another judge to put an end to the conflicts between the parties involved in the Chapter ...
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Decline in Foreclosures Not Expected to Last

Although foreclosure filings across the country have dropped, financial experts believe that this trend is short-lived. According to a company that watches trends in the housing market, areas like ...
Continue reading "Decline in Foreclosures Not Expected to Last" »

Arizona Racetrack Still Sorting Through Bankruptcy

An Arizona based racetrack has filed for Chapter 7 bankruptcy and has created numerous headaches for the trustee responsible for overseeing the case. The bankrupt racetrack owes millions of dollars to ...
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Non-Exempt Property Under Chapter 13

Under Chapter 13 bankruptcy, you will not have to sell off your assets in order to pay your debts. However, an important exception is that property you own that is not exempt under Chapter 13 ...
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Deciding Between Chapter 7 and Chapter 13

Both Chapter 7 and Chapter 13 bankruptcy can be used by individuals to pay off their debts. However, Chapter 13 bankruptcy has a number of advantages over Chapter 7. Under Chapter 7 bankruptcy, the ...
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Non-Dischargeable Debt and Chapter 7

The purpose of filing for Chapter 7 bankruptcy is to re-organize your debt and to discharge whatever debts you can. However, there are types of debt that cannot be discharged (forgiven) by the court. ...
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Company Gives Out Executive Bonuses during Business Bankruptcy

One organization sparked a controversy recently when their business bankruptcy judge allowed the company to give out millions of dollars in bonuses to a few hundred top managers in the company. ...
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Foreclosure Program a Failure

Not all the funds appropriated for government funds are actually used as intended, as was proven by the relative failure of one federal program. According to the Department of Urban Housing and ...
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Restaurant Opts for Chapter 7 Bankruptcy

One restaurant company tried to restructure its debts, but failed, and had to seek a different type of bankruptcy. The company, which operates Mexican chain restaurants in California, New York, ...
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Chapter 7 Outside of the Courtroom

Despite what you may have heard about in the media, not all bankruptcy cases are fought in the court room. In fact, many cases are settled outside of court, which is preferable for both the overworked ...
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Newspaper Still Trying to Resolve Bankruptcy

Not all bankruptcy cases are easy to complete, especially when they involve millions of dollars worth of debt. Such is the case of a national newspaper company that has been attempting to complete its ...
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Removing an IRS Lien with Bankruptcy

If you currently have a lien on your finances from the Internal Revenue Services, you may be contemplating bankruptcy as a way to have it removed. However, you cannot automatically have a lien removed ...
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Filing for Chapter 7 When You Have Tax Debt

If you are filing for Chapter 7 bankruptcy to erase your federal income taxes, beware: you must qualify under four stipulations in order to have your tax debts discharged. First, the taxes must be ...
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Well Known Chicago Company Files for Bankruptcy

Another great Chicago institution has been forced to file for bankruptcy, but this company will not be remaining open for business. The famous meat store has been forced to shut its doors after 150 ...
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Chapter 13 Allows You to Address Your Debt

Are you considering bankruptcy but aren't sure whether to file for Chapter 7 or Chapter 13 bankruptcy protection? There are a few hints to help make your decision easier. If you are willing and ...
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Camera Company Still Denying Bankruptcy Rumors

A camera company is vehemently denying recent claims of business bankruptcy despite public knowledge that the company is failing. As the company that brought the first consumer camera to the market in ...
Continue reading "Camera Company Still Denying Bankruptcy Rumors" »

Businesses Sued for Foreclosure Scams

When foreclosures were at their highest point, several scheming individuals across the country saw a chance to squeeze more money out of already cash-strapped homeowners. After gathering enough ...
Continue reading "Businesses Sued for Foreclosure Scams" »
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