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October 2012 Archives

Credit card debt and other bills plague homeowners

Many homeowners are struggling to make monthly mortgage payments necessary to avoid foreclosure, forcing themselves into a situation where credit card debt or medical bills pile up as they attempt to keep their homes. Paying some debts and allowing others to slide is a dangerous act, and those who seek to find debt relief should strive to understand their rights and obligations under the law.

Company seeks debt relief through bankruptcy and auction

Filing for bankruptcy can be a difficult time in a person's life. There may be several bankruptcy options for those facing financial challenges, including Chapter 11, Chapter 7 and Chapter 13 filings. Consumer bankruptcy is a common issue, but businesses may also need debt relief.

Arkansas coach's bankruptcy may provide debt relief

A bankruptcy doesn't necessarily mean the loss of all of the filer's possessions. Although a Chapter 7 liquidation procedure requires that most of a filer's assets should be sold to pay off the debts accrued, certain assets are safe from loss. Readers in Appleton, Wisconsin, may have heard of the recent bankruptcy filing of major college football coach John L. Smith. The assets preserved in his bankruptcy demonstrate that the amount saved during the bankruptcy process can be considerable.