Chapter 7 bankruptcy eliminates unsecured debt such as medical bills, credit card debt, and payday loans.  In order to understand whether you qualify is by reviewing your eligibility factors.  The most effective way to learn if you qualify includes discussing your situation with an experienced bankruptcy attorney. Meeting qualifications of the means test and providing [...]

By John Clark
A report this week from Detroit’s emergency manager says the downtrodden city is completely broke and may soon have to file for bankruptcy, according to the Associated Press.

In Oregon, homeowners who want to challenge a non-judicial foreclosure can now opt for mediation. They pay two hundred dollars in order to meet with a housing counselor, then sit down with both a state-sanctioned mediator and a representative of the bank. While Consumer advocates anticipate many homes will still be foreclosed, the hope is that those who are still capable of making mortgage payments will be able to renegotiate their loans. This modification to the foreclosure process is currently available only in non-judicial foreclosure.

The automatic stay in bankruptcy may feel like a children’s game, but the protections it offers are serious business.

I’ve been practicing bankruptcy law for a while now, and I’ve been surprised at how many very good bankruptcy lawyers either give bad tax advice or incomplete tax advice.  I’m also surprised at how many of these good lawyers send clients out the door, because the client has a tax issue that can’t be solved in bankruptcy.

Well-known vacuum company Oreck filed for Chapter 11 bankruptcy after decreasing vacuum sales.  The company will continue operations during the filing, while in the process of restructuring in hopes of acquiring a buyer.  Oreck is known for producing upright vacuums and cleaning products through online and direct phone sales, as well as through their Oreck [...]

Debt isn’t always bad, but be careful about taking on too much… It gets a bad rap, but debt is not necessarily always a bad thing. In the business world, Fortune 500 companies sell off debt in the form of bonds to raise capital and expand operations. They create jobs in the process. In the [...]The post Do you have too much debt to handle?

The last thing consumers in the Seattle and Tacoma, Washington metro areas need are layoffs of any kind. Even if they don’t directly effect you, a friend or a family member, the loss of jobs means less money for Seattle and Tacoma area businesses. This is why the news that Boeing will be terminating 1,500 information-technology positions in the Puget Sound region over the next three years is a bitter pill for Seattle and Tacoma area consumers to swallow.

In bankruptcy, you’re faced with a laundry list of duties. Ignore them at your peril.
Making the decision to file for bankruptcy isn’t easy.
You’re poring over options, looking to solve your problem in the best way for you.