Chapter 11 May Help Small Businesses Weather Downturn

Since a good percentage of our bankruptcy clients are small business owners, I keep an eye out for articles on financing. This article from  Christian Science Monitor caught my eye because of the contradictory messages about small business lending.  While the federal reserve system is “encouraging” banks to lend to small businesses, banks counter that [...]

Financial Strategies to Employ Until the Economy Improves

The latest report from RealtyTrac concerning foreclosures  says, “The roller coaster pattern of foreclosure activity over the past 12 months demonstrates that while the foreclosure problem is being managed on the surface, a massive number of distressed properties and underwater loans continues to sit just below the surface, threatening the fragile stability of the housing [...]

First “Flipping,” Now “Flopping”

Back during the boom, people “flipped” houses by buying low and selling high. During the bust, that same premise is being used to “flop” houses through the use of short sales. What the article failed to address was the impact of a short sale on the original homeowner.

Chapter 13 Bankruptcy: Individuals

Chapter 13 is a repayment bankruptcy.  It is utilized by individuals, and owners of sole proprietorships or other “mom and pop” businesses, not only to obtain a fresh start, but also to retain their assets and reorganize their financial affairs. For most individuals with debt problems, the major decision is whether to file for protection under Chapter [...]

Bankruptcy FAQs

We know what to do when a pipe bursts or a tooth chips, but most of us are navigating uncharted waters when it comes to dealing with financial hardship in an orderly way. Layer on a thick dose of social shame, and it’s no surprise that people often wait longer than they should to seek [...]

Primer for Distressed Homeowners: Part 2 of 3

In our first post of this series we covered the foreclosure process and defined some basic real estate terms related to distressed sales. In this article we cover questions and answers on preventing foreclosure, negotiating with a mortgage company, and what to do about an adjustable rate mortgage that will soon reset. Q: Can I [...]

Chapter 13 Bankruptcy

Chapter 13 is a repayment bankruptcy.  It is utilized by individuals, and owners of sole proprietorships or other “mom and pop” businesses, not only to obtain a fresh start, but also to retain their assets and reorganize their financial affairs. For most individuals with debt problems, the major decision is whether to file for protection under Chapter [...]