Content Related To 'bankruptcy'

Cramdowns in Bankruptcy Proceedings

By Elliot S. Schlissel Jan. 4, 2011 There are various techniques that can be used to modify mortgages. Homeowners can apply to their banks for mortgage modifications. If the homeowner files bankruptcy, he or she can take action to force a bank to write off portions of the principal of the mortgage loan. This is […]

Types of bankruptcy

Each of the four major types of bankruptcy has its own set of guidelines and regulations. Chapter 7 may be used by businesses and individuals and involves the liquidation of any assets and immediate payment of debts. Chapter 13 often is used by individuals and smaller businesses and involves payment over a period of time. […]