The state with the highest foreclosure rate, Arizona, is being sued for violating the settlement's federal consent judgment by not using the funds for helping homeowners.
States recently received $2.5 billion from the major banks for foreclosure prevention and related help for homeowners. But much of that is not being used for those purposes.
Most creditors don't challenge your write-off of their debts in bankruptcy. But if one does, the system is poised to resolved that challenge relatively quickly.
Bankruptcy court is a relatively efficient place to determine whether or not you must pay a debt which the creditor says can't be discharged.
Not only is the foreclosure rate climbing for older mortgage holders, it is climbing faster than it is for younger ones.
This new AARP study reveals shifts in mortgage patterns with huge immediate and near-future consequences.
The U. S. Constitution doesn't talk about it, so how does filing bankruptcy give you the power to stop a foreclosure?
Three more practical ways that bankruptcy works to let you take control of your debts, even those that can't be written off.
Here's how bankruptcy actually works, and works well, even when a significant debt or two can't be written off.
Don't disregard bankruptcy as an option just because it does not write off the debt which is your immediate headache. There's likely some good medicine for that headache after all.
If you file bankruptcy, it's okay to voluntarily repay any debt. But there can be unexpected consequences.
In bankruptcy it's okay to FEEL differently towards some creditors than others. You can also sometimes ACT differently, but only if you very carefully follow the rules.
Yes, you have a moral obligation to pay your debts. But do you have higher moral obligations to release yourself from those debts?
If you are buying something on time and want to keep it, you often can do so for less money IF you bought it more than a year ago.
If you're financially hurting this 4th of July, you may not exactly be feeling like this is a great country. But it is.
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