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Newly introduced legislation, known as the “Consumer Reporting Fairness Act,” has recently gained support from consumer advocates, as well as the National Association of Consumer Bankruptcy Attorneys (NACBA). The bill, proposed by a number of senators, would require banks to…

When some of your old debt has been changed on your credit report to ‘charged off,’ don’t get too excited. Although it may sound like you are suddenly debt-free, that unfortunately isn’t the case. What it really means is that…

Reverse mortgages are often used by retirees who have not saved enough or do not receive enough from Social Security to be able to live comfortably during their retirement years. Many do not save enough because they think of their…

In addition to pressing legal concerns, many of the bikers who were arrested at the scene of last month’s Twin Peaks shooting may soon find that they also have to contend with serious financial hardships. Many of these individuals have…

English boy band group Blue member Lee Ryan reportedly sought bankruptcy protection for the protection of his family’s future, an article of The Guardian reported on May 18. Ryan is the fourth and last member of the now defunct music group who…

Contrary to what many people believe, bankruptcy will not necessarily have an adverse affect on your credit. In fact, many people actually end up having a better credit score after they file for bankruptcy than they did before filing, as unpaid debts may…

American electronics corporation RadioShack recently exited Chapter 11 bankruptcy after its brand was purchased in an auction, Business Insider reported on May 13. According to reports, the brand was purchased by Standard General LP for a bid worth $26.2 million. Standard General prevented…

Well before he entered politics, Abraham Lincoln co-owned and operated a little convenience store in New Salem, Illinois.  To the future benefit of the nation, Lincoln’ acumen for business was somewhat lacking and his store went under, according to Bankruptcies and Money…

Realty News revealed in an April 28 article that Nicole Eggert is expected to settle her overwhelming debt by selling her posh Los Angeles residence. Reports said the 43-year-old former Baywatch star was able to sell her Studio City house for $1.15…

While it may be exceedingly difficult to do so, it is possible to discharge student loans through bankruptcy. In order to be eligible, however, individuals must be capable of demonstrating that their continued payment of their student debt will create excessive…