Is Bankruptcy Ethical?

For many people bankruptcy creates a moral dilemma.  Many of us are taught to always repay our debts.  Sometimes, bankruptcy lawyers dance around this issue by pointing out that hundreds of thousands of people file bankruptcy each year, including people like Walt...

Chapter 7 Overview

In 2011 there were nearly one million applications for bankruptcy protection.  Yet the notion persists that bankruptcy is an embarrassing process that will ruin any opportunity for financial well-being. Chapter 7 is sometimes called “liquidation”, although that...

Consumer Debt Reduction

The conventional wisdom is that paying down your debt is a good idea all of the time.  In fact, paying down debt is only a good idea some of the time. Before you commit your hard-earned cash to debt reduction, ask yourself a few questions: 1.  Have I considered all...

Reaffirmation Agreements in Bankruptcy

Life doesn’t come to a halt just because you file Chapter 7 bankruptcy.  You still need a car.  You still need a place to live.  In order to keep these items, and anything else you purchased with a security agreement, you may need to sign a reaffirmation...

The AMR Bankruptcy and You

Unless you have been living under a rock, you have heard that AMR[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top”...

Negative Equity and Social Darwinism

“[D]on’t try and stop the foreclosure process. Let it run its course and hit the bottom, allow investors to buy up homes, put renters in them, fix the homes up, and let it turn around and come back up.  The Obama administration has slow-walked the foreclosure...