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Top Ten Reasons People File for Bankruptcy
By Bankruptcy Home

1. Eliminate the legal obligation to pay many of your debts.

This process of wiping the slate clean is called a discharge of debts. The goal of a discharge is to reduce debt to give you a fresh start. Whether it is through straight bankruptcy (Chapter 7 Bankruptcy) or through reorganization (Chapter 13 Bankruptcy), most or all of your debts can be cleared.

2. Stop foreclosure on you house and allow you to effectively make payments to catch up on missed payments of your mortgage.

If your home is in foreclosure, Chapter 13 Bankruptcy will stop the foreclosure any time prior to the sale. Bankruptcy does not eliminate mortgages on your property without payment. Rather...
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In the News
    Bankruptcy filings up 16 percent
    MILWAUKEE Bankruptcy filings are up 16 percent in Wisconsin during the first half of the year. U.S. Bankruptcy Court records show more than 16,000 petitions were filed through June. Eighty-two percent of the petitions are for Chapter 7 bankruptcy. Thats the type that lets consumers wipe out debt such as credit card balances and medical and utility bills. Bankruptcy attorneys tell the Journal ... Read More ...

    Bankruptcy filings in state up 16% at midyear
    Bankruptcy filings in Wisconsin rose 16% during the first half of this year, an increase lawyers say was driven largely by consumers and small-business operators who couldn't find enough work in the slow economy to keep up with their debts. Read More ...

    Bankruptcy in Connecticut Increases By 24%
    During the first half of 2010, bankruptcy filings for individuals in Connecticut jumped by 24 percent compared to a year ago. In fact, personal bankruptcies accounted for 89 percent of all bankruptcies tracked by the Warren Group, a real estate data firm in Boston, from January to June. Read More ...

 
 
 
 
 

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