Monthly Archives: September 2012

The Bankruptcy Clause in The Federalist Papers

The Federalist Papers are a key source for understanding the intentions of the drafters of the Constitution. What do these essays say about the Bankruptcy Clause?

Can an Individual Chapter 7 Case Ever Save Your Business?

Chapter 13 can be a great way to keep certain small businesses afloat, but how about Chapter 7? Can’t it ever be a simpler and cheaper way to do so?   In my last blog I said that Chapter 7 is “seldom the right option if you own a business that you want to keep […]

The Bankruptcy Clause of the U.S. Constitution

225 years ago this month, the Constitutional Convention adopted the U.S. Constitution. Its Bankruptcy Clause was a quiet but crucial component of a much stronger national government.

Bankruptcy Can Save Your Business

Bankruptcy isn’t just for cleaning up after the death of a business. It can keep your business alive.   Bankruptcy saved General Motors. That business got out of a lot of it debt and restructured its operations, and ended up saving a lot of jobs. If you operate your own small business, bankruptcy may be […]

The Nitty-Gritty about Catching Up on Your Mortgage through Chapter 13–Part 2

More answers about how Chapter 13 gives you up to 5 years to catch up on your past-due mortgage.

The Nitty-Gritty about Catching Up on Your Mortgage through Chapter 13–Part 1

Chapter 13 gives you up to 5 years to catch up on your past-due mortgage. How does this actually work?

Persistently High U.S. Unemployment Rate Linked to High Household Debt

Why is the unemployment rate staying so high, years after the recession officially ended? If we knew the answer to this question, we’d have a fighting chance at addressing the problem. In our national economy of 300 million people, it’s not easy to tease out what’s keeping the unemployment rate so high so long. But […]

Stopping a Home Foreclosure with a Bankruptcy, Temporarily or Permanently

Filing bankruptcy can buy you a little time or a lot of time, enough time either to transition to a new home or to save your home.

Chapter 13 Conquers Both Older and Newer Income Taxes

If you owe a number of years of income tax debt, Chapter 13 allows you to favor those taxes that have to be favored, while dumping the taxes that can be dumped. In my last blog I gave an example showing how Chapter 13 can be an extremely good way to handle income tax debts […]

$36 Billion in Student Loans Is Owed by Americans 60 Years Old and Older

This $36 billion is owed by 2 million older Americans. Garnishment of their Social Security benefits to pay these student loans has skyrocketed.

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