Tag archive for ‘Bankruptcy’
Debt Buyer Practices
by Jay Jump on 3/11/10 | 0 Comment(s)
Initially, let me explain what a debt buyer is.
A debt buyer is a company or individual who purchases note paper. When you purchase a home, or a car, you sign a promissory note. This promissory note is what entitles the creditor to collect money from you for payment on the loan. Read more>>
Milvetz v. United States
by Jay Jump on 3/08/10 | 2 Comment(s)
A setback for debtors and debtors attorney’s everywhere.
This part is bad for the attorneys:
Attorneys who provide bankruptcy assistance to assisted persons are debt relief agencies under the BAPCPA. By definition, “bankruptcy assistance” includes several services commonly performed by attorneys, e.g., providing “advice, counsel, [or] document preparation,” §101(4A). Moreover, in enumerating specific exceptions to the debt-relief-agency Read more>>
Where to File a Chapter 7 Bankruptcy
by Richard Stokan on 3/08/10 | 0 Comment(s)
A bankruptcy case must be filed in the federal district where the debtor has maintained his residence or principal place of business “for the one hundred and eighty days immediately preceding such commencement, or for a longer portion of such one-hundred-and-eighty-day period.” 28 USC 1408. In laymen’s terms, the case must be filed in the bankruptcy Read more>>
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 1 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast.
You need to file for bankruptcy.
Let me say it again for those of you who are still shaking your head.
YOU NEED to file for bankruptcy!
There, I gave you a little emphasis to Read more>>
Bankruptcy vs. Debt Consolidation Programs
by Lori Patton on 2/13/10 | 0 Comment(s)
Very often people come to see me after having tried being in one of those Debt Consolidation programs. Others are just starting to have trouble with debt and are considering all their options and ask me for my opinion on Debt Consolidation programs. Here is what I tell them: Debt consolidation is premised on the Read more>>
My Creditors Are Violating the Automatic Stay
by Jeff Herrick on 2/10/10 | 0 Comment(s)
When you file for bankruptcy, an automatic stay is issued by the Bankruptcy Court. An automatic stay is a measure put in place by the bankruptcy court to halt all actions by creditors to collect and/or obtain satisfaction of the outstanding debt even by repossession of the property. Unfortunately, some creditors do not abide by 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>>
MTV Cribs, Your Bankruptcy Attorney and Schedule B
by John O'Connor on 1/11/10 | 1 Comment(s)
Full disclosure is the number one rule of bankruptcy. In fact, failure to disclose all of your property has the potential to jeapordize your discharge. It is important for consumers to understand that bankruptcy relief comes with a price (not talking about attorneys fees). In exchange for a fresh start, the debtor is expected to Read more>>
Renegotiate Before Reaffirming A Debt in Bankruptcy
by Richard Stokan on 12/28/09 | 2 Comment(s)
Often, consumers who wish to keep automobiles through a bankruptcy proceeding are required to reaffirm the debt. Remember that a bankruptcy wipes out your personal obligations to pay debt. In order to keep a financed car, many states require reaffirmation. A debtor must be certain he or she can afford to make the required payments Read more>>
What Happens To My Unemployment Benefits If I File For Bankruptcy?
by Jeff Herrick on 12/16/09 | 0 Comment(s)
Times are tough in Michigan and the sole source of income for some people are unemployment benefits. However, unemployment benefits can only be stretched so far. Often times they are insufficient to cover the basic living expenses and with mounting bills such as credit cards, mortgage payments, and other financial responsibilities, bankruptcy becomes a reality. Read more>>
