In 2010, more than 1.5 million Americans filed bankruptcy

We hear a lot of warnings about the “dangers” of bankruptcy; but what we don’t hear are the warnings about a much more common danger for debtors teetering on the edge of the financial abyss—avoiding a necessary bankruptcy.  Over 1.5 million Americans have filed for bankruptcy in the past year alone; but many more have [...]

Bankruptcy is a powerful tool for both individual debtors and businesses.  But what type of bankruptcy is the best type, especially for individual debtors?  Well, the two most common types of bankruptcy that individual debtors file are Chapter 7 bankruptcy and Chapter 13 bankruptcy.  Some prefer one over the other; but each offers its own [...]

We’ve heard about the “robo-signing” debacle; but now a new species of homeowner is being devoured by the mortgage industry’s quick-and-dirty foreclosure machine.  Homeowners who are current on their mortgage payments and even those who don’t have a mortgage are finding themselves swept up in the foreclosure vortex which has destroyed the finances of so [...]

But good financing is worth the wait

Congress sends legislation to the President encouraging lenders to save homeowners from foreclosure but rejects a measure to lower mortgages for those going through bankruptcy.