Bankruptcy Archives

How Chapter 7 and Chapter 13 are different from each other

One of the most common questions that gets asked about the topic of bankruptcy in general is: what is the difference between a Chapter 7 bankruptcy filing and a Chapter 13 bankruptcy filing? These are the two most common forms of personal bankruptcy, with nearly three-quarters of bankruptcy cases are Chapter 7 and the remainder are Chapter 13.

A looming student loan crisis?

Many financial experts see similarities between the 2008 subprime housing crisis and today’s $108 billion private student loan market. A decade ago, billions in subprime mortgage loans were ruled uncollectable by courts over missing or fraudulent documents.

Will new credit reporting rules boost accuracy and reduce errors?

For those who wage an ongoing battle with bad credit, help may be on the way. If you are dealing with unpaid taxes, doctor bills and judgments, you may not only receive much needed protections, but also a significant boost in your overall credit score.

Debt obligations may not end after your car is repossessed

Car repossession is an unsettling moment, whether you discover the vehicle missing or you see the tow truck take it away. For Yvette Harris, that “moment” has lasted more than ten years. She continues to pay for a 1997 Mitsubishi, a now twenty-year-old, “vintage” car she no longer owns.

The story behind national and individual state foreclosure rates

The Great Recession created unprecedented levels of economic havoc. Foreclosures throughout the country reached history highs. In 2009 alone, one in approximately 45 American households was in the process of foreclosure of their homes.