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Archive for August 8th, 2007

Big Problems Arise When a Chapter 7 Debtor Sells Estate Property Without Trustee Permission »

I received this question from a very worried Chapter 7 debtor:
I initially filed Chapter 13 after paying back $10,000 and not being able to stay afloat I switched to Chapter 7. I owned two houses at the time and made my attorney aware that I was trying to sell both. I received an offer [...]

Using bankruptcy to stop a foreclosure »

When someone gets behind on their mortgage, which is happening with much more frequency these days, and their mortgage company won’t work with them, bankruptcy may be an option. There are a lot of factors to consider before one files for bankruptcy. First, if you didn’t have enough income to pay your regular monthly [...]

Balances Transfers - A Good Idea When Used Wisely »

When your credit card debt is under control but the interest rate is killing you, you may begin thinking about a balance transfer.  There are good points to doing balance transfers - lower interest rate and consolidation of a number of cards to name a few - but there are also pitfalls.
I discovered this wiki [...]

You Cannot Borrow Your Way Out of Debt »

Credit Card borrowing statistics in from the Fed, May revised up to 7.9% increase in borrowing, June checking in at a 6.5% increase.
These numbers include mortgage and loan debt, but are being interpreted as consumers using more credit cards because they can no longer borrow against their homes.
Other government statistics show consumer spending up [...]

Can I Wipe Out Bad Checks and Get Out Of Chex Systems? »

Bankruptcy can help with bounced checks but it doesn’t solve all the problems. You can discharge bad check civil liability but not potential criminal liability. And it probably can’t get you “out” of Chex Systems.
A check is a promise to pay. If it bounces, you owe the other person a debt. [...]

Top Ten Personal Finance Mistakes - Part 9 »

Diversify your investments for the future. Financial advisors will always tell you not to put your eggs in one basket. One only need to look at 1929 to see the effect of investing too heavily in the stock market had on investors. This pattern is repeated throughout history.
Currently we are seeing a [...]

What Does The Mortgage Meltdown Mean To Bankruptcy Clients? »

One of the most important questions that a Bankruptcy Client asks is:  If I file Bankruptcy, will I ever be able to purchase a home?  As a Bankruptcy Attorney, I strive to answer all of my clients questions as honestly and ethically as possible.  The answer to this question is becoming elusive.  Unless you have [...]