People who cannot car payments, and/or owe back house payments, back IRS taxes, back child support, delinquent property taxes, and others may file for protection under Chapter 13 of the Bankruptcy Law to stop foreclosure on their home, repossession of their car(s), to stop IRS wage and bank account levies, and tax liens on their […]
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Chapter 7 Fresh Start Bankruptcy may be used to eliminate credit card debt, medical debt, deficiencies after a foreclosure and/or repossession. There are other debts dischargeable in a Chapter 7, but credit cards, medical and deficiencies are the most common. Clients who are defined as “Debtors” in the Bankruptcy Law need to be current on
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Bankruptcy law is a safety net to give honest people a “fresh start” or an opportunity to “reorganize their debts.” Bankruptcy is more powerful than any non-bankruptcy bill consolidation proposal. Bankruptcy is the law. The bankruptcy law specifies what “relief” you are entitled to, provided you follow a few, short rules. I counsel people and
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Yes, bankruptcy is a ten letter word! I use “four letter word” since most people believe a four letter word is bad. It is important for people to know that bankruptcy does not mean they are a bad person. In my experience, people do not call me after they “max” out credit cards and become
Bankruptcy Is Not A Four Letter Word Read More »
As millions of Americans are losing their homes, often unjustly because they were enticed into programs that have harmed them, at least one Website is gleefully tallying the number of these outrageous lenders that have run into trouble themselves. The Mortgage Lender Implode-O-Meter has become so recognized that, according to The New York Times, at
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Debt collectors constantly cross the line. They at least work hard to walk right up to the line. There are laws that protect you from inappropriate debt collection, but many of them are complicated and debt collectors are always devising systems that try to harass you while trying to stay barely within the guidelines of
Crazy Debt Collector Answering Machine Message Read More »
You remember Michael Vick? He is the former NFL quarterback who is serving a 23-month prison term for plotting to run an interstate dogfighting ring. On top of that, on July 8, 2008 he filed for Chapter 11 reorganization. According to Bloomberg News, Vick cited debts of $10 million to $50 million in Chapter 11
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According to the Associated Press and Fox News, Democratic presidential candidate Barack Obama has proposed changing bankruptcy laws to fast-track the process for military families, help seniors keep their homes, and protect people recovering from natural disasters. In doing so, Obama also accused Republican rival John McCain of repeatedly siding with the banking industry, saying,
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Make no mistake about it. If you have a disputed claim hanging over your head, sometimes bankruptcy can put you in the driver’s seat. If you are not the debtor and a defendant in some action filed in bankruptcy, maybe you should think twice about not compromising or settling your case. Litigation is unpredictable. Just
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If you are having trouble determining if you even have a chance of buying yourself out of your credit card debt, I suggest you try the Credit Card Debt Calculator. You can see it and use it by CLICKING HERE. For example, I went to this calculator, stated a credit card balance of $10,000.00, at
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