http://freebankruptcyblog.com The Blog for all your Bankruptcy needs. Fri, 04 Jun 2010 20:28:18 +0000 http://backend.userland.com/rss092 en What is Bankruptcy? The debtor files a bankruptcy petition and states the reason for not paying the creditor the money he owed. Before filing for bankruptcy a court procedure is linked with it. This helps the debtor to get relief from debt. But in recent times a lot of myth is ... http://freebankruptcyblog.com/2010/06/compare-chapter-7-and-chapter13-bankruptcy/ If the financial pinch isn’t too tight over the next few weeks, you might just want to go see James Scurlock’s independent film that dissects the credit card industry, Maxed Out. Featured on Nightline earlier this week, Scurlock’s story began at the University of Pennsylvania's Wharton School of Business, where he ... http://freebankruptcyblog.com/2010/02/maxed-out-new-film-explores-debt-in-america/ Looks like the political machine in Lansing understands the dire financial home foreclosure and bankruptcy epidemic destroying life in the Midwest, particularly in Michigan. The Michigan House of Representatives unveiled a package of bills that will, according to them, jumpstart Michigan's home sales market and protect residents from losing their ... http://freebankruptcyblog.com/2010/02/michigans-homeowner-protection-plan-less-foreclosures-bankruptcies/ Over the next few weeks we will post common bankruptcy and foreclosure legal terminology so when you are doing research or begin filing you can have a better understanding of the jargon involved. C Capitalized Interest The accrued interest added to the principal balance of a loan while you are not making payments; ... http://freebankruptcyblog.com/2010/01/the-abcs-of-bankruptcy-foreclosure-glossary-c-d/ For this edition of Bankruptcy INK, a lighter approach to the very serious subject of bankruptcy and financial problems shall be looked at: Famous people who have declared bankruptcy. ABC’s 20/20 did a piece at the beginning of the year on a new trend people do online called “cyberbegging.” By no ... http://freebankruptcyblog.com/2010/01/famous-people-have-filed-bankruptcy-too/ The economical forecast for residents of Detroit and the Midwest continues to look gloomy as Comerica Bank is moving their headquarters away from the Motor City down to the Big D of Dallas. “Today, a significant percentage of Comerica’s earnings is generated in the Texas, Arizona, California and Florida markets. Moving ... http://freebankruptcyblog.com/2010/01/financial-woes-continue-for-michigan-and-the-midwest/ The ABCs of Bankruptcy & Foreclosure: Glossary (a-b) Over the next few weeks we will post common bankruptcy and foreclosure legal terminology so when you are doing research or begin filing you can have a better understanding of the jargon involved. A Absolute Priority The order of payment to the different classes of creditors ... http://freebankruptcyblog.com/2010/01/the-abcs-of-bankruptcy-foreclosure-glossary-a-b/ People love their houses there is just no question about it. All day long people call us and tell stories about how they are upside down (owe more than their house is worth) in their house and they just want to save it but they hear from their cousin (who ... http://freebankruptcyblog.com/2010/01/can-i-avoid-filing-chapter-13-bankruptcy-and-still-keep-my-house-part-ii/ People love their house -- there is just no question about it. All day long people call and tell stories about how they are upside down (owe more than their house is worth) in their home and they just want to save it, but they hear from their cousin (who ... http://freebankruptcyblog.com/2009/12/can-i-avoid-filing-chapter-13-bankruptcy-and-still-keep-my-house-part-i/ Bankruptcy is a legal proceeding afforded to people who are unable to handle a financial crisis. Bankruptcy is available so that you can have a fresh start. Bankruptcy comes in two varieties: Personal Bankruptcy (which is sometimes called Consumer Bankruptcy) and business bankruptcy. A Personal Bankruptcy (Consumer Bankruptcy) is the right ... http://freebankruptcyblog.com/2009/12/getting-started-for-filing-a-chapter-7-andor-chapter-13-bankruptcy/