Bankruptcy Blog Archives

This personal bankruptcy story was posted on the internet in January of 2011 as comments in a bankruptcy discussion: “…I am having a hard time with paying my bills. Due to my stupidity, I have almost $50,000 in credit card debt. I Was separated for a while which helped to cause the debt. But a [...]

This personal bankruptcy question was posted on the internet in January of 2011 as comments in a bankruptcy discussion: “Our children have a savings account, I am the custodian on the account. Is the account safe in bankruptcy? We try to contribute when we can, but most the money is from when they did modeling [...]

Being bankrupt is defined by the Merriam Webster online dictionary as a person or entity that  is insolvent. Insolvent is defined by the same dictionary as (1) being unable to pay debts as they fall due in the usual course of business or (2) having liabilities in excess of a reasonable market value of assets [...]

Over 50% of the small businesses that start end up non-existent in five years, at least according to current statistics provided by the Small Business Administration. Most all of the businesses that failed either had no five year plan or lacked enough supporting capital to weather small dips in the economy, or both. Posted on [...]

That is right, you read right. You can believe it or not, but spending too much can cause bankruptcy, or so says a news article on the Local Beat written back in January of 2010. Seems like the state of Illinois had gotten themselves into a financial mess. According to the news source, the politicians [...]

This personal bankruptcy story was posted on the internet in November of 2008 as a comment in a discussion on bankruptcy: “…My wife and I have gotten way over our head in credit debit. That, combined with a couple of vehicle loans that I can’t get out from under is quickly turning my debt to [...]

Wanting to do what is best for you and family is a normal reaction for the most of us, especially when it comes to making the best financial decisions. Sometimes, we don’t always make the best financial decisions and are forced to face bankruptcy. When this happens, it is just as natural to want to [...]

This personal bankruptcy story was posted on the internet in November of 2010 as a comment in a discussion on bankruptcy: “I was offered a absolute no charge refinance by my mortgage co that will lower my interest rate, with no credit check, cost or nothing. They tell me that this is a government program [...]

The Home Affordable Modification Program (HAMP), a program implemented by the Obama Administration in order to help between 3 to 4 million homeowners who are facing foreclosures and bankruptcy, has so far been too little and too late. A couple of the reasons for the dismal failure of the program are probably because the qualifications [...]

This personal bankruptcy story was posted on the internet in September of 2009 as a comment in a discussion on bankruptcy: “I have recently spoken to a lawyer about bankruptcy [who] says I need to file chapter 13… I have a small business that is my only way of making any money and if I [...]