Many if not most homeowners who have to file for bankruptcy would like to stay in their homes, if possible. Sometimes staying put is even the primary, or only, reason for filing the case in the first place. If a homeowner is current on their mortgage, keeping the house will not be a problem. One [...]

With the baseball pennant races heating up, (and with the Texas Rangers currently in first place in the American League’s West division), it’s time for a final report on the results of the Rangers’ bankruptcy case, which saw the team go on the auction block in early August. The winning bidders: Hall of Fame pitcher [...]

In a truly strange result in a bankruptcy case from Orlando, Fla., a sharp-witted quick acting creditor has snatched a debtors funds right from the hands of a Chapter 13 bankruptcy trustee! Florida attorney Carmen Deluttri analyzed a case where the debtor couldn’t afford his Chapter 13 payments, and the judge in the case therefore [...]

One of the biggest mistakes that average people can make when they are under the stress of financial problems is to start raiding their IRA or 401(k) retirement accounts to pay routine bills. By the time they think about filing for bankruptcy, little or even nothing may be left of their retirement savings. And then [...]

If you file a bankruptcy case, you probably don’t want it to end up like Joseph DiStasio’s. This debtor was the owner of two tree cutting companies in Quincy, but found his bankruptcy case on the front page of the Boston Globe this week. Most of you would think that was bad enough — seeing [...]

The US economy is on its own as federal stimulus programs start to expire. The federal tax credit for new home buyers expired in April, and sales of homes have all but collapsed by July — which should be the best season for real estate, at least historically. According to an article by Robert Gavin [...]

Bankruptcy is the last resort for people who can’t pay their bills, right? Maybe not, or perhaps I should say “not necessarily.” North Carolina attorney Susanne Robicsek has written a nice article that might make people re-think how long they should go without considering a bankruptcy case. Robicsek thinks the two worst scenarios for debtors [...]

The Park Seed Company, whose ubiquitous catalogs light up our winter evenings with dreams of summer gardens, has been sold at a bankruptcy auction. According to an article in Greenhouse Grower magazine, the South Carolina mail order seed company was purchased by a venture capital firm in Maryland. The purchase price was $13 million. In [...]

Nationwide, credit card debt has fallen to the lowest level in the past eight years, according to an AP article by Eileen Connolly. The highest levels of credit card debt are in Alaska, and people in Alabama have been paying off their cards the most. Massachusetts and new Hampshire are about in the middle as [...]

If you do file a bankruptcy case, generally you don’t want the court to dismiss it out from under you! Generally, dismissals look bad on your record — if you file another case right after the dismissal, you might have to “beg” a bankruptcy judge to let you file again. Forth Worth bankruptcy attorney Reed [...]