Bankruptcy News

This is our bankruptcy news section. You will find all kinds of helpful information about filing bankruptcy, the new bankruptcy laws, the different types of bankruptcies and much more.

Warnings About Bankruptcy Mills

February 20, 2012

Bankruptcy mills are law firms and legal services that churn out bankruptcy after bankruptcy. They can be a good option for those who want a quick, affordable way to get help with their bankruptcy, but they are not without their risks. If you decide to go with a “mill,” make sure you are careful, because [...]

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Future Income Could Be Bankruptcy Fraud

February 13, 2012

When you are filing for bankruptcy, one of the things you need to watch out for is bankruptcy fraud. If you are found guilty of providing false information to the courts, information that could alter the course of your bankruptcy case, then you could be considered guilty of fraud. Even if this false information is [...]

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Foreclosure Vs. Bankruptcy: Which Is Best?

February 6, 2012

If you have reached a point with your debt where you have no options, you may be wondering whether letting your home fall into foreclosure or going down the path of bankruptcy is the best option. You are the only one who can ultimately make this decision, but understanding the pros and cons of both [...]

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Should My Business Consider Chapter 11?

January 30, 2012

Chapter 11 bankruptcy protection is one way that a business can restructure itself after facing a debt problem. Like all types of bankruptcy, it has both positives and negatives that a business should consider. If your business is facing debt that you simply cannot deal with on your own, it is worth considering. What It [...]

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Five Steps to Take Before Filing for Bankruptcy

January 23, 2012

If you fear that bankruptcy is looming in your near future, there are some things you should (and should not) be doing as you wait for the chips to fall. Some actions you take in the months prior to filing can actually hurt your chances of successfully filing for bankruptcy. Other actions can put you [...]

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Potential Tax Consequences of Filing Bankruptcy

January 16, 2012

Most people who file for bankruptcy do their homework about credit scores, loss of assets, and future ability to get loans. What some fail to realize is that there may be tax consequences to the process as well. As you consider filing or start the filing process, knowing these potential consequences is important. Receiving a [...]

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Chapter 13 Bankruptcy and Discharge

January 9, 2012

Many debtors are under the impression that Chapter 13 bankruptcy will eventually end in discharge of their debts. This can happen, and it is the way the law designed Chapter 13 to work. However, this may not be as common as you think. Many people who file Chapter 13 do so because they have too [...]

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Repaying Debts After Bankruptcy Is Possible

January 2, 2012

Most people who file for bankruptcy do so to get out from under the thumb of their debtors, yet some will actually have a strong desire to continue paying what they owe, even after they file. If you find yourself in this boat, you do have options, and one of those is to continue to [...]

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Bankruptcy and Divorce

December 26, 2011

Many couples who find themselves on the road to divorce also find themselves facing financial difficulties. The fact is that separating from your spouse is expensive, and when you go from two incomes to one, debt is often the result. If you decide to file sometime during or after the divorce process, it will be [...]

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Short Sales and Bankruptcy

December 19, 2011

For homeowners in distress, a short sale often seems like a workable solution to their financial situation. Yet, when further financial difficulties come that mean bankruptcy is inevitable, a short sale may not end up being the best solution. In a short sale, you sell your home for less than what you owe, often because [...]

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