Category Archives: Bankruptcy
Home Sales Increase, But Many Potential Homeowners Still Can’t Qualify for Mortgages
With sales of new homes in September jumping to the highest level in years, one might assume the real estate market is finally recovering. But while the increase is certainly a good sign, it doesn’t tell the whole story, say bankruptcy attorneys. According to the Commerce Department, sales of new homes climbed 5.7 percent last… Read More »
Credit Card Debt Settlement Deals Typically Too Good To Be True
As of this June, the average American household had just over $15,500 in credit card debt. Considering credit card debt is only the third largest source of debt behind mortgages and ever-rising student loans, it’s no surprise that most consumers’ wallets are feeling pinched. And it may also be no surprise why a growing number… Read More »
Foreclosure Rates Hit New Low As Refinancing, Bankruptcy Help Distressed Borrowers Hold onto Homes
The good news is that an anticipated flood of foreclosures is shaping up to be more of a trickle. The bad news is that, rather than lose their homes to foreclosure, some borrowers are simply being pushed into short sales. According to a recent housing report, the number of foreclosure filings dropped to the lowest… Read More »
Life After Bankruptcy Is Better Than Most Americans Think, Says New York Times
For a growing number of Americans, filing for bankruptcy may be the only realistic solution for eliminating crushing debt. Unfortunately, many of these potential filers put off seeking bankruptcy protection because of a common misconception. Since notice of a bankruptcy filing will remain on an individual’s credit report for 7 to 10 years, most people… Read More »
Faced With Large Debts, Many Students Default on School Loans
One of the biggest financial stories of 2012 has been America’s record amount of student debt, which recently exceeded $1 trillion. Now it seems students are breaking another record, say DebtStoppers bankruptcy attorneys. The number of borrowers who defaulted on a federal student loan within two years of their first payment is on the rise,… Read More »