Problems With Reaffirmation Agreements of HSBC Subsidiary A couple months ago, I got a call from a prospective client (who we’ll call Jim). At the time he called, Jim was involved in a pro se adversary case involving a dispute over the terms of a reaffirmation agreement. As I learned more and dug deeper, it [...]
How Bad is Bankruptcy For Your Credit?
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What stops people from filing for bankruptcy? Is it fear, pride or a belief that declaring bankruptcy is in some way unethical? If you stopped and asked 10 people on the street for the number one reason not to file bankruptcy, most would mention damage to their credit. How Bad is Bankruptcy For Your Credit? [...]
The Length of Time It Will Take to Rebuild Your Credit – With or Without Bankruptcy
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Bankruptcy and Your Credit Clients are always concerned about their credit score. It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option. Although bankruptcy does have an effect on your credit, the effect [...]
What Will Happen to My Retirement in Bankruptcy?
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Retirement Accounts and Bankruptcy One of the biggest myths about bankruptcy is the idea that you will lose your retirement savings if you file. Generally speaking, this is not true. Section 522 of the Bankruptcy Code allows individual retirement accounts (IRAs) up to $1,000,000 to be exempted in bankruptcy. This means that you can file [...]
Eleventh Circuit: No Such Thing as a “Harmless” Debt Collection Lie
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Debt Collectors Cannot Use False or Misleading Statements to Collect a Debt Under the Fair Debt Collection Practices Act (FDCPA), a debt collector is prohibited from using false or misleading statements in order to collect a debt. A new decision out of the 11th circuit, reminds us that this rule is to be taken literally [...]
Credit Card Debt in Bankruptcy: The Basics
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The Basics of Credit Card Debt and Bankruptcy In an economy where housing problems dominate the headlines, high interest credit cards still remain one of the largest issues consumers face in their fight for financial health. It should come as no surprise to learn then, that credit card debt is still one of the primary [...]
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