The recession has affected everyone, from regular people to corporations to cities.  The Los Angeles Times is reporting that Stockton, California is even closer to bankruptcy.  The LA Times reports: The city of Stockton moved a step closer to becoming the nation’s largest city to declare bankruptcy, authorizing the city manager to file for Chapter...Read More

The Wall Street Journal is reporting talks are under way to allow private student loans to be discharged in a bankruptcy.  Currently all student loans are very difficult to discharge in bankruptcy and only a very few actually qualify for a discharge.  When a person files for bankruptcy, they should be given a clean slate...Read More

March 2012 The economy appears to be in recovery mode.  According to the New York Times more and more people are staring to pay their mortgages on time.  Before the current recession only about 5% of all mortgages were delinquent.  At the height of the recession over 12% of all mortgages were delinquent.  Currently, the...Read More

A few months ago American Airlines filed for bankruptcy.  Many people fear bankruptcy and see it as the death of their financial lives.  What they do not realize is that bankruptcy is the best route to get a fresh start and their finances in order.  American Airlines predicts the same.  The Los Angeles Times reports:...Read More

An article in the Los Angeles Times today told of a San Bernardino family who was able to win back their house. The foreclosure was rescinded.  Now it is up to her and Bank of America to come to a settlement on the loan terms.  Here is an excerpt from the article:   Foreclosure commonly...Read More

Did you that foreclosure defense is a big developing area of the law?  But what exactly is foreclosure defense?  Foreclosure defense is essentially fighting every aspect of home foreclosure. It usually begins with a lawsuit filed against the bank that owns the note on your house.  The lawsuit is based upon the contention that the...Read More

Chapter 7 vs Chapter 13 Bankruptcy When you are considering filing for bankruptcy, it is important that you know the difference between chapter 7 vs chapter 13 bankruptcy.  Each has its advantages and disadvantages and each has its requirements for qualification.  A person may qualify for one and not for the other, and in some...Read More

What happens at a 341(a) meeting? A 341(a) meeting (also known as the meeting of creditors) is required when you file bankruptcy.  Approximately 4 to 6 weeks after you file bankruptcy, you will be required to attend a 341(a) meeting. In every bankruptcy case, the 341(a) meeting is probably the most stressful event for the...Read More

Bankruptcy is a powerful tool.  It has the power to discharge most of your debts.  But some debts generally are not discharged.  The most common debts that are not discharged through bankruptcy are domestic support obligations (child support and spousal support-alimony), taxes, student loans, and debts incurred through fraud.  Each has specific rules in bankruptcy....Read More

Do you have old debts that have been stalking you for years?  Credit card companies calling you and threatening you?  It is time to put your past behind you and start off 2012 with a fresh start. I know that its hard to even think about filing for bankruptcy.  You are not the only one...Read More