Consumer Bankruptcy Filings Up…

September 14, 2009

Consumer Bankruptcy Filings Up 33% http://bit.ly/9z4B5

Overview of Chapter 7 and Chap…

September 13, 2009

Overview of Chapter 7 and Chapter 13 Bankruptcy http://bit.ly/10Pp4h

Bankruptcy Can Change Lives ht…

September 13, 2009

Bankruptcy Can Change Lives http://bit.ly/rAQeS

Is your home worth saving? htt…

September 13, 2009

Is your home worth saving? http://bit.ly/11m034

Bankruptcy Can Change Lives fo…

September 13, 2009

Bankruptcy Can Change Lives for the Better http://bit.ly/rAQeS

Trying to Save Your Home?

September 12, 2009

With the foreclosure wave sweeping the country, many homeowners under financial distress considering bankruptcy are asking themselves if it worth trying to save our home.   An objective approach can be taken by asking yourself two simple questions:

1. Can I afford to pay for my other monthly expenses besides the mortgage?

2. If the mortgage is affordable, will my home still be underwater for years?

For many, a home can be worth saving with the help of careful bankruptcy planning, especially if you have unsecured debts.  Speak to a qualified bankruptcy attorney in your jurisdiction.

Bankruptcy Changes Lives

September 11, 2009

For people who are drowning in medical bills or credit card debt with no realistic hope of ever paying it off, bankruptcy can help.  Collection agency calls, wage garnishment and the threat of lawsuits can take their toll and people can suffer under  enormous financial, emotional and social strain.

Bankruptcy enables the person in over their heads to regain financial freedom and gain a fresh start.  It is not a way for people to escape their responsibilities.  Don Scott, a Los Angeles mortgage broker with 13 years’ experience, says, “The smart ones are the ones who spend time in the penalty box and get on with their lives.”

Consumer Bankruptcy Filings on the Rise

September 11, 2009

Consumer bankruptcy filings are on course to reach 1.4 million filings  by the end of 2009, which would be the most filings in a year since 2005, when 2 million were filed.  In 2005, major bankruptcy reform measures were signed into law in an attempt to curb bankruptcy abuse.  Bankruptcy filings were  between Oct 2005 and the end of 2008.  With the economic downtown and rise in unemployment (currently at a 26 year high of 9.5%) bankruptcies are skyrocketing.  The stress of income loss, combined with pre-existing debt, is forcing more and more Americans into bankruptcy.  The rise in bankruptcy filings varies from state to state, but overall, according to new statistics from the American Bankruptcy Institute, U.S. consumer bankruptcy filings increased by more than 30% compared to the same time one year ago.

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