Up until 2005, consumers who fell on hard times were able to ride the coattails of lenient federal bankruptcy law to transform severe debt into a new financial skin of solvency. However, a growing number of business niches lobbied the United States Congress to change the relaxed and often contradictory bankruptcy statutes. Bankruptcy law made […]

It seemed like a good idea at the time. You borrowed money to pay for an education that would generate more than enough money for you to pay back the student loan. However, the combination of an economic recession and a decrease in demand for someone of your professional caliber has made paying back your […]

Kristi Reyes was ecstatic that she had finally fulfilled all of the academic requirements to receive an education degree. With her career aspiration of gaining a teaching position assured, Kristi said she put her student loan obligations on the back burner. That is, until she received her first student loan repayment statement. “I completely ignored […]

IS BANKRUPTCY A GOOD IDEA FOR YOU? Creditors threaten taking legal action to collect what you owe. Your bank account continues to dwindle down to a Pauper’s Purse. Every strategy you planned to take for fixing your financial woes has failed. The time has come to consider the financial “nuclear option.” Is bankruptcy a good […]

LEGAL RESOURCES FOR BANKRUPTCY CASES Filing for bankruptcy is rife with legal land mines that can seriously delay your quest for financial relief. Fortunately, you have a few resources that help take the sting of righting your financial ship. How to Find the Best Bankruptcy Attorney The decision to file for bankruptcy represents one of […]

SWIMMING IN RED INK: HOW TO GET DEBT RELIEF It seems like the onslaught never ends. No, we’re not talking about another edition of Dr. Phil; we’re talking about the seemingly endless number of bills that pile up on your kitchen counter. Many Americans swim in so much red ink that filing for bankruptcy has […]

CHAPTER 13: THE WAY TO PAY OFF YOUR DEBT Also referred to as reorganization bankruptcy, Chapter 13 allows you to create a payment plan that is acceptable to your creditors, as well as fits within your tight monthly budget. As opposed to selling assets to fulfill debt obligations, you pay off what you owe from […]

EVERYTHING YOU NEED TO KNOW ABOUT CHAPTER 7 BANKRUPTCY Chapter 7 bankruptcy wipes the slate clean of all your debts. The price paid for wiping the financial slate clean includes the loss of property and a much lower consumer credit score. Chapter 7 bankruptcy represents the last option for extricating yourself from the financial hole. […]

WHAT IS BANKRUPTCY? Let’s make one thing clear: Bankruptcy is not a social stigma that equals the shame of being part of a leper colony. You don’t place a sign on your back and walk around telling the world “I am broke.” We want to tell you the most important thing you need to know […]