National Bankruptcy Forum

Do you have too much debt to handle? Know the signs…

John O'Connor — Wed, 15 May 2013 18:44:22 +0000

Debt isn’t always bad, but be careful about taking on too much… It gets a bad rap, but debt is not necessarily always a bad thing. In the business world, Fortune 500 companies sell off debt in the form of bonds to raise capital and expand operations. They create jobs in the process. In the [...]

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Foreclosure Settlement Checks are Bouncing

Chuck Panzarella — Sat, 20 Apr 2013 00:55:27 +0000

Foreclosure Settlement Checks are Bouncing Some people just can’t catch a break. Homeowners who received settlement checks from some of the largest banks involved in the illegal foreclosures of 2009 and 2010 reported that they were denied due to “insufficient funds.” Having the foreclosure settlement checks bounce is just the most recent blow dealt to [...]

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Should I Sign a Reaffirmation Agreement?

Ken Gogel — Tue, 19 Mar 2013 21:49:40 +0000

Your mortgage lender is demanding that you “reaffirm” a mortgage note on your residence in your bankruptcy case. Should you agree to do so? First the basics: There are two parts to your agreement with the mortgage lender regarding your residence. The first part is the note, your promise to repay the amount of money [...]

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Common Bankruptcy Myths

Rocky Ball Jr — Sun, 17 Mar 2013 01:27:37 +0000

Most people have a negative association with the word bankruptcy. However, often what you heard is misleading and misinformed statements from people who are not well versed in bankruptcy law. Many very successful people and businesses have filed bankruptcy and have gone on to become very prosperous. Bankruptcy Will Ruin My Credit Generally, if you’re [...]

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Ever Wonder Why Credit Card Companies Can Charge Such High Interest Rates?

westcoastbk — Thu, 14 Mar 2013 08:55:21 +0000

By Ryan C. Wood The short answer is because corporate profits and corporations in general are favored over protecting the individual from harm these days. Below is only one court decision in the long dismantlement of individual rights in favor of corporate rights. Every state, well, every state used to have usury laws. Have you [...]

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So you stopped that foreclosure by filing a bankruptcy case. Now what?

Ken Gogel — Wed, 06 Mar 2013 20:17:50 +0000

Filing a bankruptcy case is the first step in stopping a foreclosure on your home and the imposition of the “automatic stay” on collection activity stops the mortgage lender dead in their tracks, but for how long? Not long enough unless you do what the Bankruptcy Code requires. Make your post petition mortgage payments on [...]

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Should You Delay Filing a Bankruptcy Case Until April 1?

Ken Gogel — Tue, 26 Feb 2013 21:03:07 +0000

Sometimes in a Bankruptcy case, timing is everything There are lots of numbers in the Bankruptcy Code: numbers that limit filing under Chapter 13 consumer reorganizations based on the amount of debt that you owe; numbers that determine the amount of your exemptions; and numbers that determine your eligibility for a Chapter 7 filing based [...]

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Debt Settlement, the IRS and Bankruptcy: Three Rules to Know

John O'Connor — Fri, 15 Feb 2013 18:06:29 +0000

If you find yourself deep in debt, and are exploring your options to get out, the odds are you’ve considered both bankruptcy and debt settlement. In order to help you make a more educated decision, there are three rules you should be aware of. Rule #1: Settling Debts Outside of Bankruptcy Can Increase Your Tax [...]

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Chapter 7 Bankruptcy in Florida: What You Need to Know

John O'Connor — Tue, 12 Feb 2013 23:07:11 +0000

An Overview of Chapter 7 Bankruptcy in Florida This article is part of a series on the various state exemption laws that can change the outcome of a bankruptcy case, especially as it pertains to keeping your property. There are many misunderstandings about bankruptcy, one of which is the idea that because the Bankruptcy Code [...]

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Can Creditors Garnish My Wages in Florida?

John O'Connor — Mon, 11 Feb 2013 16:32:32 +0000

A Creditor’s Right to Wage Garnishment in Florida Hinges on Whether the Debtor Supports a Family and How Much They Earn Yes, Florida law does allow creditors to garnish your wages. However, a creditors right to garnishment, and the amount they’re entitled to garnish, hinges on whether you qualify as a “head of family” under [...]

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