Tag Archives: bankruptcy-faq
The Mortgage Crisis
John Stossel has some interesting thoughts about the mortgage crisis, subprime crisis, financial crisis, disaster and credit crunch.
Thoughts?
Continued here: The Mortgage Crisis
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How long does bankruptcy stay on a credit report?
This is one of those bankruptcy FAQs: people are confused about bankruptcy reporting, and think it’s like all other credit reporting (seven years).
Question: how long does a bankruptcy stay on your credit report?
Answer: Ten (10) years. Source: FTC
See more here: How long does bankruptcy stay on a credit report?
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Business bankruptcy: Chapter 11 for 2
Frontier Airlines and Linens and Things both might need to have a reorganization, it was reported Friday. Note that these are different than Chapter 13 bankruptcy, which is a much smaller reorganization (and more common).
View original here: Business bankruptcy: Chapter 11 for 2
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Foreclosure Prevention Act has Bankruptcy Split
Foreclosure Prevention Act making its way through Congress has some members divided whether judges should be able to trim the loans of homeowners who are underwater with mortgages:
The Senate is poised this week to approve the housing legislation, dubbed the Foreclosure Prevention Act. Heavy on tax breaks for homeowners as well as for businesses incurring [...]
