Personal Bankruptcy

There are two basic types of personal bankruptcy, Chapter 7 and Chapter 13. The laws changed in 2005 and now certain conditions must be met before filing for bankruptcy under either chapter. As soon as you file you get immediate protection from the harassing collection efforts of your creditors. This is called an automatic stay.
There [...]

The Effect of Filing for Bankruptcy on a Home Foreclosure
In the years leading up the recent financial crisis, the housing bubble spurred a dramatic rise in new home ownership.  At the same time, many of the nonconventional mortgage schemes (also known as “subprime” loans) precipitated many of the financial woes currently being felt by millions [...]