Though filing for bankruptcy can be the ultimate recourse for some individuals who have been left with overwhelming debts, people should understand that in some instances there are debts that may still remain that debtors need to settle. Below are the following debts that cannot be relieved by a Chapter 7 or Chapter 13 bankruptcy...

A recent study revealed that, compared to many states, Alabama’s households tend to have much lower credit card debt, a Thursday, December 8 article of al.com reported. The average credit card debt of households in all states is $15,675, but reports revealed that Alabama households have an average of $1,866 in credit card debt. Data...

A California-based real estate information provider observed that there was an increase in completed foreclosure procedures nationwide, but the foreclosure inventory has decreased, a November 8 article of Housing Wire reported. According to CoreLogic’s September data, there was a 31.1 percent decrease in yearly nationwide foreclosure inventory, which amounts to a 3.1 percent decrease on a...

Actress Lindsay Lohan might find herself heading for bankruptcy due to claims that she failed to settle the rent payments on her flat in London, an October 22 report of the Economic Times stated. The bankruptcy issue reportedly comes as the 30-year-old actress opened up a nightclub in Greece with Dennis Papageorgiou. The landlord of the $4.2...

Levels of foreclosure activity in the U.S. have decreased to a pre-recession level, a mydaytondailynews.com article stated on October 13. Overall foreclosure data provided by RealtyTrac noted in September that foreclosure filings nationwide have reduced by 24 percent compared to the data recorded in the same month last year. Recent data also revealed that foreclosure levels...

A lawsuit was recently filed against American actress Tori Spelling due to allegations that she failed to settle her overwhelming credit card debt, an October 4 article of Toronto Sun reported. Reports revealed that American Express filed a lawsuit against Spelling, 43, after she failed to settle nearly $37,982 worth of credit card debt. The credit...

Former NBA player Darius Miles recently sought bankruptcy protection after playing for several seasons and earning millions of dollars, an article of Belleville News-Democrat reported on September 16. The 34-year-old former player of the Los Angeles Clippers decided to file for bankruptcy in June after acquiring too much debt. Miles acknowledged that his liabilities amounted to $1.57 million...

A September 13 article released by CoreLogic revealed the foreclosure inventory rate in the U.S. significantly fell in July compared to the same month in previous years, an article of the National Mortgage News stated. According to reports, the foreclosure inventory recorded in July was an estimated 355,000, compared to the 501,000 recorded in the same...

Former professional football player Terrell Owens is at risk of losing one of his properties to foreclosure after he failed to settle mortgages of over $900,000, an August 6 article of Realty Today reported. According to reports, Owens defaulted $905,417.06 on his $2.2 million San Fernando Valley property that he and his former spouse Rachel Snider...

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