We’re in tough times. If you didn’t already know that, it’s far past time to crawl out from under your rock. Many good people have had bad things happen to them, and have landed in a world of financial hurt. Many have lost jobs. Many have lost homes. Many have had to go as far as consulting a bankruptcy attorney to help them get out from under the mountains of debt which have crept up on them during these trying times.

One of the leading reasons why people go to see a bankruptcy attorney is because they find themselves still owing a ton of money even after the bank has foreclosed on their homes. If you find yourself in that position, bankruptcy is sometimes the only serious option you have.

Here’s how foreclosures work (you’d be surprised how many people really aren’t aware of this until after they go through it):

1. After you default on your payments, your bank sends you several notices, eventually making it clear that they are foreclosing on your property.
2. Your property goes up for sale by auction. The bank is often the highest bidder, and the price is usually significantly less than what you owe on the property.
3. The buyer begins the eviction process if you are still living at the property.
4. The amount the property sells for is deducted from what you still owe on the property.
5. You are liable for the remainder of your mortgage, even though you are no longer able to live at the property. You are also liable for the legal costs incurred by the bank in many cases.

So, in the end, you not only can’t live in the house anymore, but in most cases, you will still owe a lot of money. And let’s face it: if you’re in bad enough financial space that your house went to foreclosure, you’re not exactly in a position to pay back the remainder of the mortgage while paying rent or a house payment somewhere else.

That’s where talking to a bankruptcy attorney can help. There are several different types of bankruptcy you can file for to help you get out from under the burden of your debts. In most cases, you can keep some of your debts and continue to pay on them while receiving relief from others.

While we would never suggest bankruptcy to anyone who doesn’t absolutely need to take that step, chances are that if you’ve had your home foreclosed on, you’re one of the ones who really should consider it.

Many people assume that most of bankruptcy cases are filed by overspenders who wound up with way too much credit card debt. The truth is, however, research shows most people who file bankruptcy do so because of medical debts. Between 2003 and 2004, a little over half of personal bankruptcies came about because of medical debt, and 75% of those cases were for people who had health insurance.

• Medical bankruptcy is not a legal term. In fact there is no legal distinction between bankruptcy and medical bankruptcy. The term is used to describe situations in which people file for bankruptcy mainly or solely due to their medical bills.
• Public hospitals and healthcare providers may be able to help. Depending on your income, you may qualify for low-cost healthcare through your state, local government, or charitable organizations. Seek treatment at a public hospital and ask for assistance with the costs. You may be surprised to find out you can qualify for low-cost healthcare, even if you aren’t eligible for Medicare or Medicaid.
• Don’t put the charges on your credit card bill. Once you’ve paid your medical bills off by charging the expense to your credit card, you won’t have the option of negotiating with your healthcare providers on the terms of repayment. Instead, you’ll be paying charges for high interest and it could hurt your credit score.
• Bankruptcy may not be the best option. Research shows that over 60% of medical bankruptcies were filed on less than $5000 worth of debt. Filing for bankruptcy can be expensive in the short term, and it can harm your credit record for years into the future. Contact a bankruptcy attorney to help you understand the benefits and costs of filing bankruptcy in your situation.
• Debt settlement may be an option. If you are willing to pay your debts, but need a longer time period so you can keep up with the payments, contact your medical billing office and tell them about your situation. They may be willing to settle your bill for less than the face value, or give you more time to pay it off.

If you are unable to pay your debts, bankruptcy could be a good decision. Always review your choices carefully, and discuss the situation with a bankruptcy attorney who can best advise you about the law, your choices, and the financial repercussions.

The tough economic situation has hit many families hard, and most people are looking for ways to get out of debt. A number internet companies lately have started advertising government debt relief grants, but consumers should beware. Such ads are probably making false claims. While there is some funding available for individuals through government agencies, you’re not likely to find it through these websites.

• The promise of government grant money to settle consumer debts (such as credit cards) is just another tactic used by debt settlement companies to dupe unwitting consumers into paying for services they may not even need.
• Ads promising credit repair are also frequently selling debt settlement services, and much of what they do you could do for yourself, for free.
• The FTC has warned consumers that debt settlement companies may be misrepresenting their services. A recent consumer alert notified the public about debt relief ads that might actually be selling bankruptcy services. It has also sued debt reduction companies for falsely promising to lower customers’ interest rates.
• In many cases, credit counselors claim to be non-profit when they are actually a for-profit company. Be sure to ask for credentials, and verify them with your local consumer protection agency.
• Beware of promises to settle your debts for less than you owe, especially when the debt settlement agency requires hefty upfront payments and demands that you stop making regular monthly payments on all or most of your bills. A new law goes into effect this month that bans advance fees for debt relief services, and requires that debt settlement companies deposit customer payments into insured accounts with appropriate customer access to funds.
• If you are behind on your debts, find a reputable bankruptcy attorney or non-profit credit counselor to help you resolve your debt issues.
• Contact your local Better Business Bureau or State Attorney General’s office for information about a company before you sign any checks.
• Non-profit credit counselors won’t bully you into debt settlement plans. Instead, they tailor a debt management plan for each individual consumer. In most cases, individuals are given a debt repayment plan they can afford, with no fees or the need for debt consolidation.

Legitimate sources of government funding may be found through the agency’s own website. The U.S. Department of Housing and Urban Development (HUD), for instance, has received stimulus funds and is disbursing the money through neighborhood stabilization grants. Other government agencies may also have funds to assist you, but you should deal directly with their local representatives.

Many people find themselves on a debt treadmill they can’t ever seem to get off of. In some cases, filing bankruptcy may be the only option, but others may be better served through alternatives to bankruptcy. Alternatives usually include some form of debt repayment, along with credit repair and a renewed understanding of how to use credit, but these alternatives take many forms. Consulting a bankruptcy attorney will help you better understand the options, so you can decide which one is right for you.

• Debt Consolidation – If you are struggling to keep up because your monthly payments are too high, but you still have good credit, chances are you can qualify for a debt consolidation loan. This may be a personal loan, home equity loan, or student loan consolidation program. This will help make payments affordable, and keep you out of credit trouble.
• Payment Arrangements – If you only have a small number of creditors, you can contact each one and ask to make payment arrangements. If you tell them about your situation, you may be surprised to find how many are willing to work with you. Ask for a reduced interest rate and reasonable monthly payment amount, and don’t fall behind once you’re on payment arrangements, or you could wind up in court.
• Debt Settlement – There are many for-profit and not-for-profit debt settlement companies out there, but you can also enter debt settlement yourself. Similar to the payment arrangements option above, you contact your creditors and let them know you’re having difficulty keeping up. You can ask for smaller monthly payments, but you can also offer to settle with the company for less money than you owe. They don’t have to accept your terms, but they might prefer to get something than risk getting nothing if you file bankruptcy.

No matter which option you choose, your credit record will probably be damaged. To make sure you know what’s on your credit report, request a copy every year. Review it thoroughly and fix any errors. As you get better at reading and understanding your credit report, you’ll start managing your credit better, too. Ideally, in the future, you can avoid the need for bankruptcy altogether.

Understanding what types of bankruptcy you can file for can help you as much as knowing the forms you need to file and the processes. These useful links can help you file on your own and give you useful information that can help you file your case correctly. Doing this without the help of legal representation is difficult and the process is hard to understand and must be done without any mistakes to be approved, and having all the information required to file can help you be successful in court.

1. Long Island Bankruptcy:  Takes you through the pros, cons and the process of filing.
2. Bankruptcy America:  Helps you with the question of whether or not you need a lawyer to file.
3. Attorney Marketing: Gives you the facts about filing without representation.
4. Mark Buckley: Common myths with bankruptcy.
5. Better Living:  Know the benefits and disadvantages of filing on your own.
6. File Bankruptcy Just By Myself:  Bankruptcy gives a person the chance to start a new life.
7. Info Barrel:  Be smart and review the facts of filing bankruptcy. It includes information on Chapter 7 and 13 bankruptcies as well as filing it yourself or with an attorney.
8. Passport 2 Riches:  Why you need to seek counseling before you file.
9. Castle Blog:  Discusses filing on your own or with an attorney and, the advantages and disadvantages of each.
10. A Clean Slate:  Filing on your own compared to with representation.
11. Bankruptcy Law Network:  Gives you a look at filing bankruptcy on your own.
12. Andres Montejo:  Looks at the differences and similarities between chapter 13 and 7.
13. Credit Report for Free:  Takes a look at unsecured and secured debt.  Understanding these differences can help when filing.
14. Pier 55:  Looks at how to file bankruptcy online.
15. Bankruptcy Litigation Blog:  Takes a look at the importance of credit counseling as part of filing.
16. New Dawn Law:  Filing bankruptcy without the aid of an attorney.
17. Northwest Georgia Bankruptcy:  Chapter 13 bankruptcies and what the differences are between getting wages garnished and an EDO.
18. Can I File Bankruptcy Without An Attorney?:  Filing without an attorney in Kansas.
19. Shenwick and Associates:  Why you should not do a file on your own.
20. Baland Law:  Is filing really the right choice for you?
21. Santa Fe Bankruptcy: What problems can develop when you file?  They also stress the importance of disclosure of all your assets.
22. Tulsa Lawyer:  Shows anyone can have debt problems, even lawyers.
23. Las Vegas Bankruptcy:  What fees are involved with filing bankruptcy?
24. The Bricks Law Firm:  Shows the process after you file for a chapter 13.
25. Minnesota Lawyer:  See some problems that can occur when you file on your own.
26. Shaev and Fleischman:  What is the process of filing a chapter 7 bankruptcy in the state of New York?
27. CA Bankruptcy Blog:  Takes a look at the differences between chapters 7 and 13, and which one is best for you to file.
28. Auto Credit Express:  What happens to your car loan while you are in the process of going through a bankruptcy?
29. Crown Equity:  They offer forms that you can download to use in filing for yourself.  There are many pages to get all the forms you need.
30. National Bankruptcy:  Explains what you need to claim, and the importance of claiming everything.
31. Arizona Bankruptcy:  They offer a FAQ for debtors, creditors and general questions that get asked.
32. Kentucky Bankruptcy Blog:  What problems you could face when you file in Kentucky on your own?
33. 713 Debtor:  Offers a checklist of the forms you need to have when you file.
34. Nug Life:  What chapter 7 schedule forms do you need to file bankruptcy?
35. Bankruptcy Lawyer and Attorney:  Free forms to file your own case in court.
36. Michael R. Sices:  He takes a look at the filing process. It also offers advice on what to expect before and after you file.
37. Bukisa:  What are the good and bad of filing a chapter 7 bankruptcy?
38. San Jose Bankruptcy Blog:  A look at the new laws and how the means test can help you.
39. Duncan Law:  Takes a look at saving possessions after filing.
40. Berry and Associates:  What are the differences between the two types of bankruptcy in Georgia?
41. Bankruptcy in Michigan:  What are the differences between a chapter 7 and 13 bankruptcy in Michigan?
42. Money Talk:  Two types of bankruptcy; what are they? Clear language to make it easy to understand.
43. The Adkins Firm:  Differences of Chapter 7 and 13 and eligibility requirements.
44. Phillips and Associates:  Differences of types of bankruptcies in Arizona.

Image Credits: Mini D

You may be going through both of these and need to know what the effects each of these will cause on the proceedings. You can use these links to get a glimpse into what to expect when you need to declare bankruptcy as your marriage dissolves either through the divorce proceedings by yourself or with your spouse.  They can also show how it can affect any of the settlements already in place by the courts.

1. The Wright Lawyers Blog:  Shows how bankruptcy can affect divorce proceedings.
2. Sterling Law:  Warns against filing bankruptcy after you have already gone through a divorce if you are trying to get out of debt.
3. The BKBlog:  Offers advice to do before you file for divorce and bankruptcy.
4. Atlanta Divorce Attorneys:  Looks at divorce and bankruptcy and the process of which needs to be filed first.
5. Reed’s:  Looks at how bankruptcy affects divorce settlements.
6. Divorce Lawyers:  Looking at what happens when an ex files bankruptcy to avoid paying for joint debts.
7. Ocala Divorce Help:  Looks at which should be filed first, and why.
8. The Kentucky Bankruptcy Blog:  Looks at the advantages of filing for bankruptcy before divorce.
9. Get Rich Slowly:  Looks at bankruptcy from the creditor’s side point of view.
10. Kansas Bankruptcy Information:  Looks at what happens to divorce debts after bankruptcy.
11. Divorce.com:  Looks at filing for bankruptcy during a divorce.
12. Cain Law:  Takes a look at mortgages in a divorce and bankruptcy.
13. Hoglund Law:  Looks at debts in divorce in relation to bankruptcy.
14. Mitchell and Culp:  Looks at bankruptcy and divorces.
15. Better Living:  Looks at reasons why you need a lawyer to file bankruptcy.
16. Credit Repair:  Looks at the common reasons people file for bankruptcy.
17. Straight Talking On The Law:  Looks at the implications of divorce and bankruptcy.
18. Arizona Bankruptcy Lawyer:  Looks at the common mistakes people make when filing bankruptcy on their own.
19. Types Of Bankruptcy:  Looks at the process of filing bankruptcy.
20. My Budget 360:  Looks at the number of bankruptcies and divorces filed.
21. Appellate Law:  Looks at the differences between claims and equitable interests.
22. Minnesota Divorce And Family Law:  Looks at which you should file first.
23. Jackson White:  Looks at divorce, debt and bankruptcy.
24. Divorce Money Matters:  Looks at the effects each has on the other.
25. Women’s Divorce:  Looks at why they go hand in hand.
26. GA Family Law:  Looks at both occurring at the same time.
27. Divorce 360:  Looks at what happens to child support and alimony when the ex files bankruptcy.
28. Debt Help:  Looks at why you should file before divorce.
29. Oegon Divorce Blog:  Looks at why the two don’t mix well.
30. Greenway Law:  Looks at ways that can help you during a divorce when you file bankruptcy.
31. FMWF:  Looks at rights when a spouse goes bankrupt during, or after, a divorce.
32. Find Law:  Looks at how bankruptcy affects divorce in NY.
33. Women’s Grid: Looks at the number of women that are filing for bankruptcy.
34. Exclusive Drops:  Looks at how common filing for bankruptcy is.
35. Think Glink:  Looks at how your credit can be affected in a divorce.
36. Kelly Can Help:  Looks at the process of divorce during a bankruptcy.
37. Bankruptcy Law Network:  Looks at if lawyer fees can be discharged in a bankruptcy.
38. Mark Buckley:  Looks at 14 falsehoods about filing bankruptcy.
39. Miami Law:  Answers the question if other people know that you have filed for bankruptcy.
40. Inform You:  Looks at the laws of bankruptcy in the US.
41. Credit Score Booster:  Looking at the effects to your credit from a divorce.
42. Think Divorce Before Marriage:  Looks at the effects to men of getting a divorce.
43. TFGI:  Gives the top 5 reasons for bankruptcy.
44. Roland Mumford:  Looks at what to file first.
45. Bankruptcy Home:  Looks at what it means to file for bankruptcy.
46. Texas Bankruptcy Blog:  Answers the question of if you should do a bankruptcy before or after divorce.
47. Texas Collaborative Law Blog:  Looks at divorce later in life, including financial repercussions.
48. Colorado Bankruptcy Help: Looks at how bankruptcy affects divorce settlements.
49. Oklahoma Bankruptcy Help:  Looks at how bankruptcy affects domestic support.
50. New York Divorce Report:  Looks at the effects of bankruptcy on child support.
51. Injury Law News:  A video on the effect of a bankruptcy order on the financial settlement and division of the family assets.

Image credits: Cosmic Kitty

In a very difficult economy, many people are seriously considering bankruptcy as a option of financial survival.  Before considering such a drastic decision that can affect you future earnings and credit, it is wise to consider some alternatives to bankruptcy.  Here is a list of blogs discussing alternatives to bankruptcy.

1. PRLog Bankruptcy Alternatives – Explains a little bit about the bankruptcy process and what some bankruptcy alternatives exist for the consumer.
2. Financial Web – This blog explains three viable and virtually painless options for bankruptcy alternatives.
3. Gopal & Associates Blog – Here there is advice for debtors involved in businesses and personal debtors that are looking at bankruptcy alternatives.
4. Credit Card Advice – This blog exposes the disadvantages of bankruptcy and offers some advice for bankruptcy alternatives.
5. Find Bankruptcy Alternatives – This is n informational blog that focuses on debt relief bankruptcy alternatives and how scammers may try to put you further into debt.
6. Credit Card Debt Consolidation Loans – A blog that covers the reasons why bankruptcy is a last resort and how consolidation loans and debt relief programs serve as a favorable bankruptcy alternative.
7. Star Net Financial – This blog discusses in depth four of the major bankruptcy alternatives and their pros and cons.
8. Meadows Mountain Realty – This is a blog that explains the option of short selling a home as a bankruptcy alternative and why it is better than a foreclosure.
9. Bankruptcy Law – In this blog, there are a few bankruptcy alternatives discussed such as credit counseling and refinancing your home.
10. The Bankruptcy Site – A post about credit card debt negotiation used as a powerful bankruptcy alternative.
11. Barry & Associates – This is an interesting blog about what the downsides may be to some bankruptcy alternatives.
12. Champion Credit Cards – This blog examines credit card debt consolidation as a favorable bankruptcy alternative.
13. What You’ve Heard – The bankruptcy alternative tips in this blog are about what you can do yourself to avoid bankruptcy.
14. Pay Off Credit Card Debt – This blog addresses prioritizing your debt and bankruptcy alternatives that are cost effective and can help build your credit.
15. Opt Finance – A blog post that explains several options of bankruptcy alternatives including inaction and credit counseling.
16. Bankruptcy Tips – With some explanations about why it is so difficult to obtain bankruptcy, this blog gives insight into the bankruptcy laws and bankruptcy alternatives.
17. Bankruptcy and Bankruptcy Alternatives – This blog has a lot of useful information about bankruptcy alternatives including IVA and debt restructure.
18. IXGW – An explanation of steps to take before bankruptcy is an option.  There are several bankruptcy alternatives and suggestions for debt resolution in this blog.
19. Bankruptcy Law Network – This blog written by experienced lawyers gives some information about bankruptcy alternatives of inaction and settlement.
20. Debt Aid – This blog aids in examining debt and settlement and debt reduction as bankruptcy alternatives.
21. Bankruptcy Alternatives – This blog gives examples of why debt consolidation is a great bankruptcy alternative and when it should be used for both citizens of the United States and Canada.
22. Salary Comparison – This blog offers 6 steps in debt reduction and popular bankruptcy alternatives.
23. Settle-Debt.com – This blog gives insight on online debt consolidation and why it is a good option as a bankruptcy alternative.
24. The Zac Show – The main focus of this blog is debt management and consolidation as a bankruptcy alternative, what to look for and how to keep from getting scammed.
25. Suite101 – Five bankruptcy alternatives are discussed here including restructure, inaction, and consolidation.
26. Debt Rescue Central – This blog explains how to be successful with a bankruptcy alternative called debt settlement.
27. About Bankruptcy – Information about refinancing your mortgage and working with experts as bankruptcy alternatives.
28. Frugal Cents – Here is a blog that advocates debt counseling and different types of arrangements as bankruptcy alternatives.
29. Bankruptcy Protections – This blog explains the advantages of debt settlement as a bankruptcy alternative and how it can improve your finances.
30. Bankruptcy Attorney Blog – This blog offers tips to avoid bankruptcy and bankruptcy alternatives for those with and without a steady income.
31. KidsToysForLess – This blog offers a few suggestions for bankruptcy alternatives and links to other helpful blog posts.
32. Debt Help – A blog that examines two bankruptcy alternatives: debt settlement and debt consolidation loans.
33. Lifestyle Blog – This blog warns of the dangers of some bankruptcy alternatives and how they can be helpful and hurtful.
34. Finance Guides – A blog that explains the benefits of debt settlement as a bankruptcy alternative.
35. The Hardy Law Firm Blog – A resourceful blog written to inform about bankruptcy alternatives and warns about the dishonesty in debt buying practices.
36. Credit Card Finder – This is an Australia-based blog that gives bankruptcy alternative suggestions that can be used by anyone anywhere that is experiencing difficulty.
37. Bankruptcy Legal Group – Bankruptcy Alternatives and advice for those who are unemployed and in stress from debt.
38. KKBS Law Blog – This post examines who debt settlement will benefit and what should be known about this bankruptcy alternative.
39. Florida Bankruptcy – Credit negotiation and other alternatives to bankruptcy from a legal expert’s perspective.
40. IVA Advice Blog – This is an England-based blog that offers suggestions for bankruptcy alternatives that are useful to anyone no matter where they are experiencing debt problems.
41. Your Finish Rich Plan – This blog focuses on hardship letters to creditors as a bankruptcy alternative.
42. Successful Financial Strategy – This blog discusses individual voluntary arrangements or IVAs as a bankruptcy alternative.
43. Debt Zero Central – This is a blog resource for some bankruptcy alternatives and explanations of how they work.
44. Arizona Bankruptcy Filing – This blog is about why bankruptcy is so popular, who has been affected most, and bankruptcy alternatives.
45. Financial Aid Blog – Here are clear cut bankruptcy alternatives for anyone experiencing excessive debt.
46. Artipot – This blog discusses the bankruptcy alternative of debt relief orders or DROs for those who are experiencing difficulty but have no real assets.

Image Credits: Wallula Junction

Owning a house is one of the biggest purchases most families ever make. Due to the current economy, foreclosure rates have skyrocketed. Losing your home is a worry that a lot of people have had to face recently. It is a scary situation facing the loss of your home, but you can make it through it. There are some companies now that will help you to keep your home, as long as you communicate with them. They can work with you to stay in your family home. Here are a few stories you should read about those who have lost their homes and how they made it through. Hopefully you will never have to face this, but if you do, here is some advice and stories to let you know that you are not alone.

1. Injured – One family’s story of losing their home after being injured in a car accident.
2. Foreclosure – Here are some stories and statistics on foreclosure rates today.
3. Getting into Foreclosure – Here one blogger describes the process that people get into and eventually leads to foreclosure of their home.
4. Mistaken Losses – Homes foreclosed on may have been mistakes by the mortgage company.
5. Ally’s Story – Here Ally’s story of facing foreclosure.
6. Sad Story – Read here to find out about one family’s story of losing their home.
7. Story – Read one person’s experience and how they ended up in foreclosure.
8. Soldier – Learn how one soldier who was serving in Iraq lost their home.
9. Life after loss – Here is one family’s story of going through foreclosure and where they are now.
10. Horror Stories – Here are some outrageous stories of how people handled going through foreclosure.
11. Lost Job and Home – One woman tells of how they lost their job and their home and how they made it out.
12. Love – Read about one couple’s journey through foreclosure and keeping their love intact.
13. Out of hand – Here one person’s story of how their finances were out of hand and ended in foreclosure.
14. Reality of foreclosure – Here is one story of a family who went through foreclosure, and the problems faced by those who are going through it now.
15. Family Lesson – Here you can learn how to avoid or stop foreclosure from a family who has gone through it themselves.
16. Life after foreclosure – Read here how to go on with life after you have been through foreclosure.
17. Everyone – No one is immune to foreclosure, it happens to everyone but there is a light at the end of that tunnel.
18. Dawn’s story – Dawn tells her story of going through foreclosure.
19. My foreclosure – Here a journalist tells their story of going through foreclosure.
20. Reality – One story of foreclosure reality hitting this family.
21. Working their way out – One family’s story of making their way out of debt and surviving foreclosure.
22. Barbara’s foreclosure – Here Barbara tells you about her experience with foreclosure.
23. Jane – Listen to Jane’s story of foreclosure on her home.
24. Stories – Here are few people’s stories of foreclosure and how they made it out of the trap.
25. Lesson Learned – Here is a real estate agent who lost their home to foreclosure and what the learned from the experience.
26. Woman takes her life – Read here on how desperation of losing homes is affecting so many people.
27. Two investors – Read about two different investors both in foreclosure with their investment properties.
28. 8 Tips – Here are tips from someone who has gone through foreclosure and how to turn it into a positive.
29. Buying another home – Here a realtor gives you some facts on buying a home after you have dealt with foreclosure.
30. Pandemic – This article takes a look at how many people are going through foreclosure right now.
31. My story – One man’s story of his foreclosure and going through the process.
32. Sandra – Learn Sandra’s story here and how some aid is coming too late.
33. Extreme home makeover – Although this program redid the house, the families are often having to sale or find themselves in foreclosure.
34. East Valley – Story of many homes in this area succumbing to the foreclosure crisis.
35. Beyond your means – Living beyond your means is one reason that so many houses are in foreclosure.
36. Recovering – Tips on picking up the pieces after you have been through a foreclosure.
37. How it happens – Learn here how foreclosure happens and what happens after the process.
38. Vandalizing – Foreclosure victims are also having to deal with their homes being vandalized as well as losing their home.
39. Help Needed – Foreclosure victims need help and quickly. This takes a look at some of the hardest hit areas.
40. Process – Take a look here at how the foreclosure process works and what happens.
41. FAQ – Here are some FAQ about the foreclosure process.
42. One Blogger – Here is a look at how one blogger feels on the foreclosure crisis and the help that is desperately needed.
43. 5 Things – Here this couple’s story of the five things they learned by losing their home.
44. With a smile – Here this blogger’s story about losing their house but keeping their positive frame of mind.
45. After foreclosure – Here are some tips to getting through and what to do after foreclosure.
46. Life after – Here are some things to do after you have completed the foreclosure process.
47. Not the end – Losing one home does not mean you are at the end, only means you have a new beginning.
48. Difficult – Life after foreclosure can be difficult but you can get through it.
49. Statistics – Here you can learn you are not alone, there are many facing foreclosure.
50. National Statistics – Foreclosure is a national crisis right now.

If the last time you looked at bankruptcy law was more than a few years ago, you might want to make sure that you know about the changes Congress enacted with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

Some of the most important recent changes in bankruptcy law include the following:

• Stricter Chapter 7 Bankruptcy Filing Requirements: The new bankruptcy law imposed a “means test” to determine eligibility for filing Chapter 7 bankruptcy; applicants must show that their monthly income is lower than the median income in their state. If monthly income is higher than the median and the applicant can afford to pay $100 a month toward paying off debt (as determined by a formula considering income, debt, and expenses), he will have to file Chapter 13 bankruptcy instead, which involves a repayment plan as opposed to simple debt cancellation.

• Filing Restrictions Related to Previous Bankruptcy Discharges: A debtor cannot file a Chapter 7 petition for bankruptcy if she has received a Chapter 7 discharge in the previous eight years (changed from six years); a debtor cannot file a Chapter 13 bankruptcy if he has received a Chapter 7 discharge within the last four years or a Chapter 13 discharge within the last two years.

• Credit Counseling and Financial Management Program: Most bankruptcy applicants are now required to attend mandatory credit counseling, which was not required before; additionally, financial management education is required at the completion of bankruptcy proceedings as well. In both cases, the courses must be approved by the U.S. Trustee Program.

• Automatic Stay Provisions: The automatic stay is used to prevent most actions against a debtor during bankruptcy proceedings, but now things like eviction procedures and divorce actions may continue through bankruptcy.

• Child Support and Alimony Priority: Debt obligations for child support and alimony now take precedence over all other creditors.

Whether to file for bankruptcy is one of the biggest decisions you’ll make in your life. An experienced bankruptcy attorney can help, but before you even seek out further advice, you could consider the following factors:

1. Have you tried to negotiate with creditors? As you know, bankruptcy is a major life decision, so it’s one you shouldn’t come to lightly. In particular, if you have tried to work with your creditors regarding payment plans, and you still can’t meet their offered terms, it may be time to consider bankruptcy. Another option to explore before filing for bankruptcy is credit counseling, which may help you set up manageable payment plans for your debts. Indeed, credit counseling before bankruptcy filing is now mandatory.

2. Do you have more liabilities than assets? How much? If you are so far in debt that you owe more in monthly payments than you make, bankruptcy might be an option. You should also consider the amount of your assets and whether it would be possible or advisable to try to liquidate any to pay off your debts; still, before selling off anything to pay debts, though, consult with an attorney.

3. Are you ready to live with the possibility of little to no credit for a while? Bankruptcy, as you probably know, does quite a number on your credit rating, so you must understand that living off of credit cards will probably not be an option for you at least soon after you file for bankruptcy. Although you can build your credit back up, you should be prepared financially and emotionally to live a life based on what you can pay for in cash.

4. How do you feel about filing for bankruptcy? Some people experience various negative emotions regarding filing for bankruptcy, including shame, failure, and depression; make sure you have a good understand of the emotional toll that filing for bankruptcy could have on you and your loved ones.

5. Can you afford bankruptcy? Although in the long run bankruptcy can be a smart financial decision, remember that filing is not free even if you don’t hire a bankruptcy attorney. That said, if you are truly ready to move forward with a bankruptcy filing, at least consulting with a bankruptcy attorney is probably in your best interests — and finding the money to pay for an attorney and to file for bankruptcy just might be in your best interests as well.

6. Are you judgment proof? Would creditors not be able to collect on the debts you owe even if you didn’t file for bankruptcy? If you’re not sure about this, be sure to contact an experienced bankruptcy attorney.

7. Will bankruptcy discharge enough debts for the process to be worth it for you? Remember not all debts can be discharged through bankruptcy, and others are rarely discharged. If the majority of your debts come from unpaid income taxes, student loans, or child support or alimony back payments, filing for bankruptcy just may not be worth it as these are rarely if ever discharged. Be sure to speak to an experienced bankruptcy attorney about your options.

8. How much property will you get to keep? State laws vary on what property is exempt in bankruptcy filings, so be sure you know which items of your property you’ll be able to keep if you file. Again, consult with an experienced bankruptcy attorney for more information.