According to an article in the Dallas Morning News, even if you have medical insurance and go to an “in-network” hospital, you could still end up with a ton of medical debt due to a practice called “balance billing.” In a nutshell, balance billing equals more medical debt for consumers who use “in-network” hospitals who [...]

1. There is no such thing as a bankruptcy just for those who did everything right.  Let’s get this straight, bankruptcy is designed for any debtor who is drowning in debt and can no longer afford to pay his/her bills. It doesn’t matter if you made foolish decisions in the past or if you did [...]

No one likes to owe money.  Most people don’t plan on falling behind on their bills.  Then… to add insult to the financial injury, a debt collector with an attitude calls you.  Their job is plain and simple…to get you to pay.  Some collector’s though have the belief that their job is to get [...]

The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable for that debt.

According to an article in the Star-Telegram, American Airlines is dropping health insurance benefits for it’s non-union retirees over 65 year old as the company battles to avoid bankruptcy.
The article said:
“American officials said Tuesday that letters went out to 5,500 retirees last week. The insurance plan will end Dec. 31, leaving retirees with the [...]

It’s seems to be getting tougher out there for Americans who are struggling financially, facing foreclosure and/or bankruptcy. According to an article in the Dallas Morning News, as millions of Americas face job losses, more employers are choosing to run credit checks on prospective workers. And what’s on a candidate’s credit report may affect [...]

Consumers should educate themselves about bankruptcy when deciding whether or not to file.

Here’s a quick primer on steps to take when deciding whether or not to file for bankruptcy:
Step One: Educate yourself about bankruptcy.  For individual consumers, there are two main categories of bankruptcy.  Chapter 7 is the form of bankruptcy where most, if not [...]

Threatened or impending lawsuits can often prompt consumers on the verge of financial disaster to take a serious look at something they’ve been trying to avoid–declaring bankruptcy.

Filing bankruptcy can be extremely hectic and many debtors make mistakes with their filing.  One of the most common bankruptcy mistakes is forgetting to list a creditor on the bankruptcy filing.  Let’s take a look at what happens when you forget to list a creditor on your bankruptcy filing:
#1 – If your bankruptcy has [...]

In the bankruptcy case of Littleton, William L.; In re, the bankruptcy court rejected the debtor’s homestead exemption.
The details of the bankruptcy case:
“The Chapter 7 debtor owned no real prop­erty when he filed for bankruptcy. He disclosed that he transferred 6.64 acres of land in Tennessee about two months prior to filing for bankruptcy. After [...]

The December 1st deadline for securing the $8,000 tax credit for buying a new home (if you’re a first-time buyer) is quickly approaching.  But is this program just a government sponsored no-money down scheme that could increase the number of foreclosures in the long-term?
According to an article in the Star-Telegram, the tax credit has already [...]

The metroplex continues to feel the pain of unemployment as updated stats were announced today in the Denton Record-Chronicle.  The City of Denton and Denton both experienced significant increases in their unemployment rates.   The article stated:  “Denton County’s unemployment rate reached 7.6 percent in June, up a full point from 6.6 percent in May. The [...]