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Monthly Archives: November 2012

Good Money after Bad — Using Retirement Funds to Save an Underwater House

Buying a home is one of the proudest days in most people’s lives. Letting go of that home when things get tough can be a very difficult thing to do. But when the housing market dropped and the value of many homes plummeted, many people in the United States found themselves trapped in mortgages that […]

Track Your Spending to Avoid Unmanageable Debt

We’ve talked before how it is often the small everyday expenses adding up over a period of time that contribute most of the debt problems many American households face. Of course major expenses like mortgage payments, car payments and utility bills contribute as well. But getting swamped by small recurring expenses is an easy trap […]

Choosing a Legitimate Credit Counseling Agency

Since the changes to the bankruptcy code in 2005, credit counseling has been mandatory for every individual who petitions for bankruptcy — whether under Chapter 7, Chapter 11 or Chapter 13. Petitioners must undergo approved credit counseling within the 180 days prior to filing a petition for bankruptcy relief. This requirement is meant to reduce […]

Can Small Businesses Benefit from Chapter 11?

Chapter 11 is usually the most complex form of bankruptcy. And in legal issues, complex can often mean expensive. But for certain small businesses with less than $2,000,000 in debt, a fast tracked Chapter 11 may be a realistic option that allows a business owner to gain the benefits of bankruptcy while continuing to do […]