Date archive for August, 2009
Importance of Full Disclosure to Bankruptcy Attorney
by Richard O'Connor on 8/31/09 | 1 Comment(s)
In every instance where you retain an attorney to assist with a legal matter, it is important to fully disclose relevant information. The problem can often be determining what is relevant. In Bankruptcy cases almost every asset and financial action is relevant regardless of how minor it may seem at the time. Read more>>
How Can I Repair My Credit?
by John O'Connor on 8/30/09 | 0 Comment(s)
Whether you have filed Bankruptcy or have faced foreclosure, repossession or a delinquency on a loan, it is a fact of life that your credit score can fluctuate. Access to credit is important when applying for a car or home loan or when starting a new business, the lower your credit Read more>>
What Happens If I Can’t Afford My Car Payments?
by John O'Connor on 8/30/09 | 4 Comment(s)
So you bought or leased a nice car………and a boat. Hey life was good, why not? In a declining economy or as a result of changing individual circumstances a once prized ‘toy’ can turn quickly into a crushing financial burden. Unfortunately, lenders aren’t all that understanding when you try to simply give back a car Read more>>
Bankruptcy Advice from Craigslist?
by Drew Broaddus on 8/28/09 | 0 Comment(s)
In these challenging economic times, it is no surprise that many individuals are looking to the internet in the hopes of obtaining as much free legal advice as possible before deciding to retain a bankruptcy attorney. One popular site for exchanging such information (along with practically anything else imaginable) is Craigslist.com. Craigslist is more commonly Read more>>
Is Retirement Money Exempt From Bankruptcy?
by Jeff Herrick on 8/26/09 | 0 Comment(s)
In 1992, the United States Supreme Court ruled that qualified retirement plans under ERISA (the Employee Retirement Income Security Act) are not to be made part of the bankruptcy estate and therefore are exempt. The ruling puts retirement funds outside the jurisdiction of the bankruptcy court.
Almost all pensions and 401(k) plans that are qualified plans Read more>>
Starting Simple
by Jay Jump on 8/24/09 | 0 Comment(s)
As a consultant to law firms around the country who want to start their bankruptcy practice and as a speaker at several of NACBA’s conventions, I have a basic philosophy on managing your practice – ‘Don’t bite off more than you can chew!’ Everyone wants to go from 0 to 60 in 2.2 seconds and Read more>>
How Long Does Foreclosure Take?
by John O'Connor on 8/22/09 | 2 Comment(s)
Power of Sale Foreclosure vs. Judicial Foreclosure, how fast can the bank foreclose?
First of all, most lenders will not begin foreclosure proceedings until a borrower is 3-6 months behind on their payments. Although missing a single payment is a default under the terms of most loan documents, lenders have neither the time nor the desire Read more>>
Short Sale Traps
by Jay Jump on 8/21/09 | 0 Comment(s)
Short Sale Myths:Jay S. Jump – Copyright 2009 – National Bankruptcy Forum – All Rights Reserved.I get a lot of calls from clients who tell me that their real estate agent has recommended a short sale as an alternative to foreclosure. The selling point is that you will avoid a foreclosure on your credit report. Read more>>
Are There Alternatives to Chapter 7?
by Drew Broaddus on 8/21/09 | 0 Comment(s)
Chapter 7 of the Bankruptcy Code provides for ‘liquidation,’ i.e., the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors. Filing for Chapter 7 protection is a significant step which should be discussed in detail with a bankruptcy attorney. In considering a Chapter 7 filing, debtors should be aware that Read more>>
What Does The Bible Say About Bankruptcy?
by John O'Connor on 8/21/09 | 0 Comment(s)
The Bible specifically addresses and calls for periodic forgiveness of debt. In a previous post on this forum, Andy Roth points out that Deuteronomy 15 calls for the forgiveness of debt every seven years:
‘At the end of every seven years you shall grant a remission of debts. And this is the manner of remission: every Read more>>
