To receive a discharge of debts means that a federal court declares that a debt is no longer enforceable. The creditor has no legal authority to collect the debt once it has been discharged. In that way, Bankruptcy law allows debtors to get a fresh start. However, there are some limitations as to which debts [...]
There is a common misconception regarding bankruptcy that in order to receive relief under the bankruptcy code, the petitioner will have to give up all of their personal belongings, or worse, that someone will take away their home. The reality is that the bankruptcy rules provide for a number of generous exemptions which allow a [...]
The “underwater home” has been a buzz term for a few years and, unfortunately, continues to be a popular topic of conversation. Although the market appears to be slowly rebounding, it is doubtful that homeowners will ever see property values as high as they were during the housing boom. Add to that the ongoing effects [...]
