Understanding whether or not you are a candidate for bankruptcy most likely includes reviewing your situation with a qualified bankruptcy attorney. A legal expert may be able to advise the best course of action based on your circumstances. Yet, there are a few factors that could have an influence on your decision that you can [...]
It's common to wonder what may happen if your ex-spouse files for bankruptcy after divorce. While a divorce agreement may have been in place detailing who is responsible for outstanding debt, you may wonder if creditors have a right to pursue the other spouse. In some cases they can, but what if your ex-spouse files [...]
During the month of October Southern parts of the sunshine state Florida saw a sharp increase in bankruptcy filings due to pending foreclosures. Local attorneys claim that many homeowners are seeking bankruptcy protection because banks are pushing forward and foreclosing on mortgages that have become delinquent. The U.S. Bankruptcy Court in Miami shared interesting statistics [...]
A Seattle couple who have been on the run for over a year were arrested in France this week. The arrest of real-estate magnate Michael R. Mastro and his wife Linda was confirmed by the U.S. Attorney's Office in Seattle. The couple was charged with multiple counts of bankruptcy fraud over a year ago and [...]
Many consumers wonder how they should go about making the decision to file bankruptcy. Some are still trying to figure out if bankruptcy is the best option for their situation or if they should continue trying to pay down their debt. There are things you should know about bankruptcy and your own financial situation that [...]
If your small business is drowning in debt, bankruptcy may help obtain the relief you're seeking. While it is an option there are details to review to help you understand how the process can help. The way your business is structured could affect how you proceed. Other concerns to think about include understanding who is [...]
Some debtors are under the impression that they will automatically lose their credit union account when they file bankruptcy. In most cases, you'll get to keep your account but it depends on whether or not you owe the credit union and what your intentions are for making payment on what is owed. There are certain [...]
Cash-strapped consumers are being warned to be on the lookout for unethical practices conducted by debt settlement companies. Many companies claim they can help struggling consumers reduce their debt obligations with creditors for a nominal fee. While there are a variety of companies that claim to offer such services, unsuspecting consumers could end up losing [...]
When a Bankruptcy Trustee Suspects Fraud Bankruptcy fraud is a serious offense that could carry a hefty fine and years of imprisonment. Because the bankruptcy code is intertwined with federal regulations any fraud committed is considered a serious matter. A bankruptcy trustee who suspects fraud is obligated to bring the matter before the court, but with sufficient [...]
Battery maker A123 Systems Inc. seeks bankruptcy protection after weak sales of electric cars. The filing will allow the maker to reorganize their business structure while finalizing the sale of automotive assets. The filing is likely to have the Obama administration face more criticism since the president authorized funding for alternative energy companies. It is [...]