As a financial/bankruptcy attorney, I get asked all the time: What will a bankruptcy do to my credit? My answer is always the same: “The same thing as not paying your bills.” I am not a credit reporting agency. I do not know what mathematical equation the credit reporting institutions use to determine the score. ...

Importance of Homeownership Typically, a family’s home is its greatest asset. In addition to many social benefits, homeownership allows you to build equity and reap some tax benefits. However, in uncertain financial times it can also be a family’s greatest liability. A mortgage payment normally is the single largest debt that a family must pay ...

What is a Bankruptcy? In general, bankruptcy is a way for debtors (people who owe money) to get rid of debt which they cannot afford to repay. However, the Bankruptcy Code gives debtors several options to achieve this goal. These different options are written into the bankruptcy laws as different chapters and are commonly referred ...