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North Carolina Attorney and NBF Contributor John O’Connor Files Mortgage Fraud Suit On Behalf Of 300
by Moderator on 2/22/10 | 0 Comment(s)
As reported in the Raleigh News and Observer, NBF contributor John O’Connor in conjunction with Giarmarco Mullins and Horton in Detroit, filed suit on behalf of 300 plaintiffs February 12th alleging violations of North Carolina’s consumer protection laws. The lawsuit is part of a larger series of cases stemming from what has been called the Read more>>
What is a Homestead Exemption? Can My Creditors Take My Home?
by Moderator on 2/14/10 | 0 Comment(s)
Homestead exemption laws have been enacted to prevent the forced sale of a delinquent borrower’s home by their creditors. In many states, whether your home may be subject to forced sale is a function of how much home equity you have.
Well first of all, lets define the term “homestead.” A homestead is your primary residence, Read more>>
I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It?
by Moderator on 2/12/10 | 0 Comment(s)
Well not exactly as you may picture it, but yes, you will still technically own title to your home until the bank clears the title through foreclosure. National Bankruptcy Forum contributor Jay Jump wrote an excellent post a few weeks ago explaining how a Home Owners Association can still come after a homeowner for dues even after the Read more>>
What Is the Rule With Cars and Bankruptcy?
by Moderator on 2/06/10 | 0 Comment(s)
Three important points to consider regarding cars and bankruptcy:
1. How much “equity” do you have in your car? As we’ve discussed on previous posts, a car or any other asset is only subject to liquidation in chapter 7 bankruptcy if there is non-exempt equity. Every state allows debtors to protect a certain amount of equity Read more>>
What Is the Rule With Homes and Bankruptcy?
by Moderator on 2/02/10 | 2 Comment(s)
There are generally two:
First, if you wish to keep your home, you’re going to have to be able to pay the mortgage. Bankruptcy can eliminate unsecured debt such as credit cards, but requires that secured debts be paid after filing if the debtor wishes to keep the colatteral (car, home, boat etc.) In some cases, Read more>>
I Can’t Afford To Pay My Medical Bills, Is Bankruptcy an Option?
by Moderator on 1/29/10 | 0 Comment(s)
Unfortunately, the term “medical bankruptcy” is becoming widespread in our country. Indeed, Facing a necessary medical procedure without health insurance can cause severe financial hardship. In fact, even those who have health insurance can struggle to make payments. According to CNN Health and the American Journal of Medicine, 60% of personal bankruptcies are caused by medical expenses:
“Bankruptcies Read more>>
Did A Holiday Bonus Give You An “F” On The Means Test?
by Moderator on 1/21/10 | 0 Comment(s)
The Means Test was implemented as part of the 2005 bankruptcy reforms with the goal of making it more difficult for those with the “means” to pay back their creditors to file for chapter 7 bankruptcy. The means test looks at a consumers current monthly income or “CMI.” CMI is defined as average gross earnings Read more>>
What is the Basic Difference Between Chapter 7 and Chapter 13 Bankruptcy?
by Moderator on 1/21/10 | 1 Comment(s)
This could be the topic of a book, so we’ll stick to the basics. In my opinion, the two biggest differences between chapter 7 and chapter 13 bankruptcy are (1) time and (2) the treatment of assets.
TIME: A typical Chapter 7 bankruptcy usually lasts about three months whereas a chapter 13 plan requires a 3-5 Read more>>
How to Help Haiti: Resource Links For Donating to Relief Efforts in Haiti
by Moderator on 1/17/10 | 0 Comment(s)
American Red Cross Haiti Relief
Great Article From San Antonio Paper With Haiti Charities and Relief Efforts
UNICEF
Clinton Bush Haiti Fund
Stand with Haiti
Habitat for Humanity
Direct Relief International
The following organizations are accepting SMS donations in the US only:
SMS text “HAITI” to 90999 to donate $10 to Red Cross relief efforts
SMS text “YELE” to 501501 to Donate $5 to Read more>>
