How Avoiding Bankruptcy Can Backfire

Managing Debt

How Avoiding Bankruptcy Can Backfire

How Avoiding Bankruptcy Can Backfire

In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the… Read More

Should Colleges Have an Easier Time Declaring Bankruptcy?

Students

Should Colleges Have an Easier Time Declaring Bankruptcy?

Should Colleges Have an Easier Time Declaring Bankruptcy?

A provocative op-ed appeared in The Hill the other day. In it, the author—a former counsel to the U.S. Department of Education—proposes lowering the barriers to bankruptcy for colleges and universities. Given that more than half of all higher-education institutions in the U.S. are experiencing varying degrees of financial distress, the notion of insolvency is… Read More

Is Your Foreclosure Really Behind You?

Mortgages

Is Your Foreclosure Really Behind You?

Is Your Foreclosure Really Behind You?

As Yogi Berra once said, “It ain’t over till it’s over.” Last year, the phenomena of “zombie deeds” came to light when it was discovered that homes vacated by their owners under the belief that they had been foreclosed really weren’t foreclosed at all and the owners still owned the house. Now the specter of… Read More

5 Things to Do After Bankruptcy

Managing Debt

5 Things to Do After Bankruptcy

5 Things to Do After Bankruptcy

So you filed for bankruptcy and received your discharge. Whether you have a Chapter 7 (a “simple” bankruptcy) or Chapter 13 (debt repayment plan) bankruptcy, it’s a good idea to make sure you do the following things once your case is finalized. 1. Collect & Preserve All Paperwork From Your Case You should have received… Read More

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Mortgages

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Bouncing back from bankruptcy or foreclosure takes time. But that doesn’t mean you have to shelve your homebuying aspirations for some interminable stretch. They’re called “boomerang buyers” for a reason. Consumers may be able to close on a home loan just a couple years removed from one (or both) of these fiscal hiccups. A lot… Read More

How to Get Your Student Loans Forgiven in Bankruptcy

Students

How to Get Your Student Loans Forgiven in Bankruptcy

How to Get Your Student Loans Forgiven in Bankruptcy

“Student loans can’t be discharged in bankruptcy,” has been repeated so often that it’s practically considered gospel. But what if that “fact” is not completely correct – and may be stopping consumers who could benefit from bankruptcy from pursuing it? It’s not just consumers and the media that may be misled. “A wide number of… Read More

7 Signs You’re Heading Into Bankruptcy

Managing Debt

7 Signs You’re Heading Into Bankruptcy

7 Signs You’re Heading Into Bankruptcy

If you’ve been grappling with a lot of personal debt, ignoring the problem won’t make it go way. At best, your bills will simply continue to pile up, and you’ll wind up paying a small fortune in interest and principal payments. At worst, you could wind up in bankruptcy court. Bankruptcy will obviously damage your… Read More

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