One of the primary reasons that people are filing for bankruptcy these days is to let go of and truly walk away from real estate that is significantly underwater or in foreclosure. Bankruptcy is in nearly all cases a vastly more cost-effective and time-efficient means of walking away from a home than is a short [...]

Micron Technology Inc. (NASDAQ: MU) has seen a very muted reaction to its efforts to buy Elpida out of bankruptcy. Stern Agee has keyed in and reiterated a Buy rating and an $11.00 price target.  That is a call for about 68% upside.  Here is the logic: Analyst Vijay Rakesh noted, 1) Muted reaction pending more clarity [...]

For the month of February, the percentage of single-family homes that were three or more months behind in payments fell to 3.57%, the first time since August 2011 that the month-to-month change has fallen. In February 2011 the delinquency rate was 3.78%. The delinquency rate for multi-family mortgages was flat with January at 0.21%. Year [...]

As our Chicago bankruptcy lawyers have discussed on our blog many times, Chapter 13 bankruptcy in Chicago has gained popularity in recent years. This form of bankruptcy allows debtors to pay back a portion of what they owe over a three- to five-year period. It also protects their assets, such as a house or vehicles. [...]

Sen. Richard Durbin (D-Il) has introduced new legislation, S. 1110, The Fairness for Struggling Students Act of 2011. This legisltation would re-introduce the possibility of a discharge in bankruptcy for private student loans, which have become one of the largest debt burdents not just on American students but also on American taxpayers at large. Student [...]

The Bernie Madoff ponzi scheme may not be over, but the fight between the bankruptcy trustee Irving Picard and the owners of the New York Mets baseball team appears to be over.  Fred Wilpon and Saul Katz have agreed to pay a sum of about $162 million to settle the suit from the trustee seeking money to reimburse [...]

It’s hard to fix a problem when you haven’t identified what’s causing it in the first place. Debt is no exception. A recent article on Bankrate.com lists the top causes of consumer debt. The good news is that some of the culprits – such as financial illiteracy and poor money management – can be remedied [...]