A mortgage arrear problem arises the moment you fail to make a full mortgage payment or a partial repayment the date that it is due. Resolving mortgage arrearage requires filing a Chapter 13 bankruptcy. Chapter 13 bankruptcies are often referred to as a reorganized...
For most people who file for bankruptcy—about 70% each year—Chapter 7 is the best course of action. As we talked about last week, Chapter 7 will wipe away as much of your debt as possible (excluding taxes, student loans and domestic support) while allowing you to keep...