By John Clark
Jefferson County, Alabama, which became the largest municipality to file for bankruptcy in U.S. history, has filed a plan to cut $1.2 billion in debt, according to a report from Bloomberg News.
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And if the bankruptcy plan is approved by a judge, sources expect Jefferson County to exit bankruptcy and continue on its path to financial health within a matter of weeks.

The most common form of debt in the United States is credit card debt.  There are millions in circulation by a number of creditors with Chase bank alone having more than 100 million in 2008.  While most people feel it is not a big deal to have credit card debt, some who find themselves in [...]

In the last couple of weeks, I wrote about how certain debt buyers, like Midland Funding LLC, buy debt from creditors in bulk and then prey on debtors for money even if they cannot prove their case at trial.

The California General Assembly on July 1, 2013 passed the Fair Debt Buying Practices Act by a unanimous vote, ushering in a new set of protections for consumers dealing with debt collectors.
The bill, which becomes effective as of January 1, 2014, will require debt buyers to have in their possession a significant amount of account information before debt collection efforts can begin.

Written by: Robert DeMarco
In the Beginning – Code of Hammurabi
The concept of debt relief, in a very general way, is traceable to the Code of Hammurabi (c. 1795 – 1750 B.C.). King Hammurabi united all of Mesopotamia and ruled for forty-three years in Babylon. The Code of Hammurabi is one of the best preserved legal documents and fairly reflects the social structure of Babylon during Hammurabi’s rule. The Code contains two hundred eighty-two laws.

Written by: Robert DeMarco
In the Beginning – Code of Hammurabi
The concept of debt relief, in a very general way, is traceable to the Code of Hammurabi (c. 1795 – 1750 B.C.). King Hammurabi united all of Mesopotamia and ruled for forty-three years in Babylon. The Code of Hammurabi is one of the best preserved legal documents and fairly reflects the social structure of Babylon during Hammurabi’s rule. The Code contains two hundred eighty-two laws.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for July 02, 2013 Casey Anthony wins partial victory in bankruptcy court Textbook publisher Cengage files bankruptcy to cut debt Belle Foods bankruptcy: Grocery company struggles to pay debt

Many people are under the impression that bankruptcy will not eliminate or discharge student loan debt.  While this is true, it may not be the case for everyone.  In some cases, student loan debt may be causing the household an undue hardship.  This may allow student debt to be eligible for elimination, but even if [...]