What is the difference between chapter 7 and chapter 11 bankruptcy? Businesses usually have a couple of choices when it comes to filing bankruptcy. Chapter 7 bankruptcy is reserved for companies that are struggling so badly they want to throw in the towel. These companies are liquidated, and all assets (and proceeds from assets) are distributed between…
Many people that consider filing bankruptcy make the mistake of waiting too long before seeking legal advice from a bankruptcy attorney. There are simple warning signs you can look out for. If you are experiencing more than one of these warning signs and have accumulated debt you cannot afford to repay, you may be on…
Living in a recession is difficult for most people, especially US homeowners that are living from one paycheck to the next. They often wonder how they will keep their mortgage payments current and prevent foreclosure of their property. Oftentimes, misinformed homeowners are led to believe that entering into a short sale agreement with regard to…
You're often reminded of how extremely important your credit (aka FICO) score is. Nowadays, your credit score can determine whether or not you purchase a home for your family, insure your vehicle or take a new job. Yes! That's correct. Employers are checking the credit scores of potential employees as part of the hiring process.…