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My Favorite Quote About Bankruptcy

A famous author was once asked how he went bankrupt, his answer was “I went bankrupt slowly and then all of a sudden.” This is such a great insightful statement about bankruptcy. Typically it is not a process that happens in an instant. It is often preceded by a longer period of time punctuated with … Read more

Bankruptcy Judges Should Have the Power to Modify Mortgages

The sagging home values are drawing attention to a gaping hole in bankruptcy protection, the ability for U.S. bankruptcy judges to be able to modify the terms of a mortgage to keep people in their homes that want to pay. A couple of recent article really caught my eye, “Delahunt: Empower judges to modify mortgages” … Read more

Do I Tell My Creditors I Am Going Bankrupt?

A question I am often asked is if people need to tell their creditors that they are going bankrupt. If you’ve already decided to go bankrupt and you’ve met with a bankruptcy attorney who will handle your case, then there is no harm in telling them, but why? Once you have made the decision to … Read more