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Bankruptcy Information

How the Washington Post Outed My Bankruptcy Secret

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I am still amazed when I read ignorant stuff about the reason people are going bankrupt is because there is no more stigma about bankruptcy. No, the reason people are going bankrupt is because creditors are manipulating the system for their own accounting or reporting means and not allowing people to repay their debts with as much enthusiasm as the ... Read More »

Dave Ramsey and His Un-Truth About Bankruptcy

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So here I am, minding my own business and what does divine intervention deliver in front of me, a link to The Dave Ramsey page titled the Truth About Bankruptcy. I really wonder if Mr. Ramsey actually believes some of the rubbish he prints. Sometimes it seems to me he is so vested in his old points of view that ... Read More »

If Bankruptcy is Immoral and Against Religion or God Then Why Did the Jesuit Priests of Oregon Just File Bankruptcy?

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I understand the argument that going bankrupt is bad. Some people object to going bankrupt for moral reasons or religious reasons. I get that. When I went though my money troubles, and eventually bankruptcy, I felt the same way. It was a great struggle for me. But after years of helping people with bad debt in impossible situations, what I ... Read More »

Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint?

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I was just over on the blog of Dan Nunley, an Oklahoma bankruptcy attorney. He has a fantastic post on his site about Dave Ramsey and his aversion to bankruptcy. It is a post worth reading and the comments as well. It provided a good look at different points of view about Ramsey’s zealous effort to help people to avoid ... Read More »

What to Do if You Don’t Like Your Bankruptcy Attorney?

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What do you do if you don’t like your bankruptcy attorney? The US economy may have been beaten around a lot the last few years, but it’s still got one thing going for it: Freedom of choice. Whatever you but, whatever service you use, you have a choice. Coke® or Pepsi®.Toyota® or Ford®. The same applies to your bankruptcy attorney. ... Read More »

Shakira Says Bankruptcy Changed Her Life for the Better

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The popular singer Shakira found insight from the bankruptcy her family lived through as a child and used that experience to motivate herself and to help thousands around the world that are suffering. Colombian singer Shakira, whose hit “Hips Don’t Lie” is the most played record in American radio history, became a musical sensation and a global philanthropist because of ... Read More »

Is Bankruptcy Right For Me?

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Bankruptcy Basics Most people think of bankruptcy as a process in which you go to court and get your debts erased. It’s not that simple. In fact, there are two types of bankruptcy: the familiar liquidation bankruptcy, where your debts are wiped out (Chapter 7 bankruptcy) and “reorganization” bankruptcy, where you partially or fully repay your debts. The reorganization bankruptcy ... Read More »

When Doing What You Think is the Right is the Wrong Thing to Do During Financial Troubles

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I am forever faced with people who tell me that no matter how bad their financial situation is they will never consider bankruptcy as an option. Now I understand to that person, the thought of bankruptcy is reprehensible. They feel it is morally wrong or against their religion. They feel it is a violation of the trust others have placed ... Read More »

Bankruptcy Becoming More Common Among Upper Middle Class Out of Necessity

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For the past few years I’ve been suggesting bankruptcy more and more as a solution to people in trouble. I’ve written about my position, “I Suggest Bankruptcy Too Often, So Say Some“, and I receive my fair share of criticism about the amount of times I suggest bankruptcy. An article out today, full of data, and experts I respect supports ... Read More »

Glenn Beck says Bankruptcy is Good! Rush Limbaugh Has Already Been Bankrupt Once.

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Call me what you want, but I’m not a big watcher of FOX News. Other extended members of my friends and family worship Fox News, Glenn Beck and Rush Limbaugh. They would be described as members of the moral majority, the Christian conservative branch of the family. But yesterday I was on my motorcycle, riding down the road and I ... Read More »

I Went Chapter 13 Bankruptcy Twelve Years Ago. How Do I Get Out? – Tammy

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“Dear Steve, FILED FOR CHAPTER13 IN NOV.97 AND HAVE PAID ALL PAYMENTS .BUT NOW WOULD LIKE TO GET OUT.CAN I GO BACK TO PAYING CREDITORS MYSELF Your Question I FILED FOR CHAPTER 13 IN NOV.97.WHAT HAPPENS IF I WANT TO DISMISS THE CASE? Tammy” Read More »

The Five Myths About Bankruptcy. Watch the Video.

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Thanks to Twitter I discovered a new video out of a news story on the five myths about bankruptcy. The myths are: You should be dead broke until you file for bankruptcy. Bankruptcy ruins your credit score. You lose your home if you go bankrupt. You should max out your credit cards before going bankrupt. You should raid your 401(k) ... Read More »

Majority of Bankruptcies Linked to Illness and Medical Bills

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Harvard study finds 50 percent increase from 2001 Most of those bankrupted by illness were middle class and had insurance Medical problems contributed to nearly two-thirds (62.1 percent) of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine that was published today online. The data were collected prior to the current ... Read More »

Canadian Bankers Whining About Credit Card Interest Rates. They Must Think Canadians Are Idiots.

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According to UPI, the Canadian Bankers Association defended credit card fees to a senate committee in Ottawa, saying consumers have a choice of 68 low-rate cards. I guess that’s like saying that Canadian consumer that don’t chose one of those 68 low rate cards are idiots. The senate’s Standing Committee on Banking, Trade and Commerce is having hearings on fees ... Read More »

Bankruptcy Filers Can Easily Get Better Credit Scores Quickly

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When people go bankrupt their finances become a painful chapter in their lives. They avoid credit and shun anything to do with their credit reports or credit scores. And that’s a mistake. Going bankrupt is painful enough but being unfairly penalized for going through bankruptcy is not fair. If you have gone bankrupt in the last seven years you need ... Read More »

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