When it comes to debt, bankruptcy lawyers have seen it all.

As professionals who fight for the financial well being of consumers everyday, bankruptcy attorneys are uniquely suited to answer your questions about debt and personal finance.

Whether you’re not sure how best to deal with mounting personal debt, don’t understand your state’s laws or are facing some other money problem, a bankruptcy lawyer can likely point you in the right direction.

With hundreds of member attorneys nationwide, the National Bankruptcy Forum is a leading provider of information for consumers looking for solutions to their debt problems.

What is an Offer in Compromise? Can It Help Me Avoid Bankruptcy?

What is an Offer in Compromise? Tax settlement firms love to advertise the offer in compromise, a method for resolving IRS back taxes that theoretically involves payment of a small portion of the outstanding tax bill owed and forgiveness of the rest. Tax settlement firms love to imply that the IRS will simply forgive the […]

What Happens to Tax Debt in Bankruptcy?

Will Bankruptcy Help With Tax Debts? In some cases, bankruptcy can eliminate back taxes owed to the IRS as well as to state governments, however the devil is in the details. It is certainly not easy to eliminate tax debts in bankruptcy court. If your taxes don’t qualify for discharge and you file for bankruptcy, […]

Chapter 7 Bankruptcy: What Every Consumer Needs to Know

Chapter 7 Bankruptcy: What Every Consumer Needs to Know

Chapter 7 Bankruptcy Basics Perhaps you’re considering filing for bankruptcy and have some questions. Why is the word “liquidation” associated with chapter 7 bankruptcy? Why is chapter 7 bankruptcy called “straight” bankruptcy? Maybe you’ve met with a bankruptcy attorney who has reviewed your case and assured you that your property is safe from the bankruptcy […]

Is an Adjacent Lot Part of the Homestead for Exemption Purposes?

Homestead Exemptions Don’t Protect Investment Property Although homestead exemption laws vary by state, none of them protect investment property. A homestead is, by definition, a primary residence. You don’t necessarily need a white picket fence and a golden retriever, but you must live in the home in order to claim the exemption. As a general rule, investment […]

Under what circumstances can my bankruptcy discharge be denied by the court?

Under what circumstances can my bankruptcy discharge be denied by the court?

When Your Discharge Can be Denied While there are certain debts that cannot be discharged in a personal bankruptcy case, or are very hard to discharge (such as student loan debt), there are a variety of circumstances under which a court can deny you your ENTIRE discharge. If the court finds you violated one of […]

Bankruptcy and Utilities: Keeping the Lights On

Utilities and Bankruptcy It’s almost summer time again, and the economy hasn’t fully recovered. Many consumers are still struggling to pay bills and no one wants to be left without air conditioning in July. If you’re concerned about having the power shut off due to past due utility bills, it is important to be aware […]

Even If You Can’t Afford the Mortgage, Be Sure to Pay These Bills…

Even If You Can’t Afford the Mortgage, Be Sure to Pay These Bills…

It’s no secret that the housing downturn produced a record number of defaults and resulting foreclosures. The worst days are behind us, but many homeowners are still struggling to pay the mortgage. In the event you do fall behind on the mortgage, it’s generally a good idea to try to maintain the following bills for […]

When is Bankruptcy an Option for a Small Business?

When is bankruptcy an option for a small business? The first question to ask is whether the business is a corporation, a partnership, or a proprietorship.  Corporations, limited liability companies and partnerships are legal entities separate from their shareholders or partners.  They can file Chapter 7 or Chapter 11 bankruptcy in their own right.  Proprietorships, however, […]

Why Chapter 13 Bankruptcy Has Your Second Mortgage Lender Feeling “Undersecured”

Why Chapter 13 Bankruptcy Has Your Second Mortgage Lender Feeling “Undersecured”

Americans Owe More Than Their Homes are Worth Even though the worst days of the housing crisis are behind us, many Americans owe more on their mortgages than their homes are worth. Some are severely underwater. With banks generally unwilling to offer lasting mortgage modifications, many consumers feel out of options when dealing with a […]

I’ve decided to file for bankruptcy, do I need to go through with my short sale?

I’ve decided to file for bankruptcy, do I need to go through with my short sale?

The benefit of continuing with a short sale after you’ve decided to file for bankruptcy will hinge on the type of bankruptcy you plan on filing. If you have decided to file for chapter 7 bankruptcy and are currently trying to sell a home via short sale, there is usually no reason to continue with […]