Stopping Foreclosure by Filing Bankruptcy

If a consumer falls behind on their mortgage payments, and the lender accelerates the loan and initiates foreclosure proceedings, a Chapter 13 bankruptcy (wage earner) is often the only realistic way to save the home from a foreclosure sale. Unless the homeowner can pay all unpaid mortgage payments, late fees, legal fees and foreclosure costs […]

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Post-Bankruptcy Filing Financial Management Course – What to Expect

After filing a bankruptcy case, the law requires the debtors to take a financial management course, which is done either online, by telephone or in a classroom.  If a debtor does not take this course, the bankruptcy court will close the case without a discharge.  Since the discharge is the motivation for filing a bankruptcy […]

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Be Wary of Debt Consolidation Companies

Since the economic meltdown of 2008, many consumers are so deeply in Debt that it is not possible to repay the loans without changing the payment arrangements.  A considerable number of consumers have found bankruptcy to be a viable option, especially since the stigma against bankruptcy has been fading since the 1970s.  However, some consumers […]

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