The American Bankruptcy Institute, a nonpartisan group that provides research and education on bankruptcy and insolvency, recently released statistics gathered from all U.S. bankruptcy courts, finding that the overall rate of bankruptcy dropped in 2013 by 13 percent over the [...]

When people with debt problems reach the conclusion it’s time to file for bankruptcy, many find it hard to justify the expense of hiring a bankruptcy lawyer. Even though bankruptcy services are generally quite affordable, taking on any new expense [...]

On Dec. 3, a U.S. Bankruptcy Court judge ruled that the City of Detroit can file for Chapter 9 municipal bankruptcy. That makes Detroit the nation’s largest municipality to file for bankruptcy, greatly eclipsing others on the list, including three [...]

If you’ve been hit hard by the Great Recession, you probably have more bills than you know what to do with. A job loss, for example, not only means less income but a cascade of negative financial events. When people [...]

In order to get a discharge in bankruptcy, sufficient time must pass between the filing of two separate bankruptcy cases. So if a bankruptcy case is filed too soon, a discharge may not take place. While there is nothing to stop a [...]

If a job loss, medical bills or unexpected expenses have got your scrambling to pay your bills, you may have wondered whether it’s a good idea to liquidate your 401(k) account in order to pay them off. Before you take [...]

According to a recent study by NerdWallet Health, the leading cause of consumer bankruptcy filings in the U.S. is not credit card debt or mortgages, but rather health care bills. In fact, an estimated two million people in the U.S. will file [...]

Did you know that you can be prohibited from filing for bankruptcy if you’re found to have committed defalcation? It’s true — although the term had never actually been defined until now. On Monday, the U.S. Supreme Court took up [...]

American Airlines’ parent company AMR Corporation filed for Chapter 11 bankruptcy in late 2011 in the hopes of reorganizing its debts, ditching some obligations, and putting itself in a strong position for future profitability. Last year, US Airways Group, Inc., [...]

A Chapter 7, 11 or 13 Debtor may avoid a judicial lien recorded against their real property that impairs the exemption on the property. There is no statute of limitations on filing a motion to avoid this judicial lien. Thus [...]