By Liz Pulliam Weston

Bankruptcy has become little more than a few months in purgatory, rather than the seven-year ache -- and lifelong disgrace -- it once was.

Deborah and Victor Valle fell behind on their mortgage payments last year after Victor, a 43-year-old union truck driver, was idled by the Southern California grocery workers strike. When their lender started foreclosure proceedings, the Valles hired a lawyer, David Baran, to file a Chapter 13 bankruptcy so they could keep their ...   more »

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By Bankrate.com

Sometimes, a fresh start makes sense -- if you can get past what you think you know. Here's how bankruptcy affects your credit, your possessions and your karma. By Bankrate.com Like most big, bad, scary things, bankruptcy has a reputation based on a few tidbits of truth and lots of embellishment. And like most creepy crawlies, it's not nearly as frightening once you know the truth. With a mind toward declawing the monster, here are a ...   more »

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The industry muscled through tough changes that were supposed to make more filers repay some of what they owe. But that isn't happening. By Liz Pulliam Weston http://moneycentral.msn.com/content/Banking/bankruptcyguide/P135860.asp   more »

Blog sponsored by Bankrupt-Law.com

IRS Provides Guidance Regarding Returns for Bankruptcy Purposes December 01, 2005 IRS Notice CC-2006-002, dated November 22, from the Office of Chief, provides the IRS's position in contesting the dischargeability of a tax debt in bankruptcy on the basis that no return was filed, when a taxpayer has signed and submitted a Form 870, Waiver of Restrictions on Assessment and Collection of Deficiency in Tax and Acceptance of Overassessment. The Notice states that the 4-part test ...   more »