Archive for October 8th, 2007

• Find A Lawyer

  

• only search Bankruptcy Law Network

• Categories

  • Bankruptcy Cases & Legislation
  • Bankruptcy Myths
  • Bankruptcy Practice and Procedure
  • Bankruptcy Protection & Automatic Stay
  • Benefits of Bankruptcy
  • Chapter 11 Bankruptcy
  • Chapter 13 Bankruptcy
  • Chapter 7 Bankruptcy
  • Credit, Bankruptcy, and Society
  • Debts Not Dischargeable
  • Discharge of Debt
  • Exemption Issues
  • Featured
  • General Bankruptcy Information
  • Lawyer to Lawyer
  • Life After Bankruptcy
  • Marriage and Debt
  • Means Testing
  • Small Business And Self-Employment
  • State Specific Bankruptcy Issues
    • California
    • Colorado
    • Connecticut
    • Florida
    • Georgia
    • Illinois
    • Kansas
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Missouri
    • New Mexico
    • New York
    • North Carolina
    • Oklahoma
    • Oregon
    • Pennsylvania
    • South Carolina
    • Texas
    • Utah
    • Wisconsin
  • Tax Issues
  • Your Bankruptcy Attorney & You

• Recent Articles

  • Wisconsin Bankruptcy Filings Up 38%, Judge Says More To Come
  • The trick to discharging credit card debt
  • Auto Makers Waste Funds While You Are On The Verge Of Bankruptcy.
  • Bankruptcy “Exemption Planning”: In re Addison Makes It Easier
  • Consumer Reports: Reform School (U.S. Economy)

• Attorneys In Our Network

  • California - Bay Area
  • California - Chico
  • California - Southern
  • Connecticut
  • Florida (Northeast)
  • Florida (Southwest)
  • Georgia (Atlanta Area)
  • Illinois
  • Kansas
  • Louisiana
  • Maryland
  • Massachusetts (Boston)
  • Massachusetts (Springfield)
  • Michigan
  • Minnesota
  • Missouri (Kansas City)
  • Missouri (St. Louis Area)
  • New York (Upstate)
  • New York Bankruptcy Attorney
  • New York Bankruptcy Lawyer
  • North Carolina
  • Oregon (South)
  • Oregon (Willamette Valley)
  • Pennsylvania
  • South Carolina
  • Texas - Houston

• Bankruptcy Blogs

  • Atlanta Bankruptcy blog
  • Bankruptcy Blog Exchange
  • Collection Lawsuit Defense Lawyer
  • Consider Chapter 13
  • Kansas Bankruptcy Blog
  • New York Consumer Lawyer
  • New York Foreclosure Lawyer
  • On the Bankruptcy Soapbox

• Personal Finance Blogs

  • All Financial Matters
  • Consumerism Commentary
  • Credit Law Network
  • Debt Law Network
  • FreeMoneyFinance
  • Money Walks
  • Moneylawyer
  • Moneysmartz Personal Finance Directory and Guide
  • Mortgage Fraud Blog
  • Mortgage Law Network
  • Personal Finance Advice
  • PF Blogs

• Browse Our Archives

  Select Month November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007

• BLN Members

  • NC Attorney General Warning About Fake IRS Contact
    New Alert from NC Attorney General Roy Cooper warnng against giving out any information that appear to be requests from the IRS.Attorney General Roy Cooper Warns North Carolina Consumers about Fake IRS EmaiSCAM: Consumers in North Carolina have received phishing emails that claim to come from the IRS. The phony emails tell people that they have qualified for an economic stimulus refund and can receive their money more quickly by providing their bank account information. The phishing emails include a link to a website where people are asked to provide their bank account and other personal information, supposedly so their economic stimulus refund can be deposited directly into their account. The fake emails even tell people that their refund will be delayed if they don’t provide this information.TIPS: The IRS is not contacting people about their refunds by email, so don’t take the bait. Always beware of emails that ask for personal information such as your Social Security Number or bank account number. Many times, these emails contain the logos of real companies to make them more believable. Don’t be fooled by them. Never reply to these emails or click on any links. If you do respond to a phishing email, contact your bank and credit card company immediately. Finally, it’s always a good idea to use updated antivirus and firewall software on your computer.If you’ve been the victim of a similar scam, please contact Attorney General Roy Cooper’s Consumer Protection Division for assistance at 1-877-5-NO-SCAM.This message brought to you on behalf of North Carolina Attorney General Roy Cooper.*** Visit our Identity Theft website at www.noscamnc.gov ***
  • Untitled
    On NPR this past weekend was a program called "This AmericanLife" with Ira Glass. They had an incredibly detailed, interestingaccount of the subprime/housing mess, including the terminology andlots of statistics, and how consumers and Wall Street bankers accepted the huge risks.Below is a link to the show, "355: The Giant Pool of Money" which you can play to hear:Link to This American Life
  • Why You Should Be Thinking About Christmas Now
    Christmas isn't something that most people think about in April, but they should. It is amazing how much people spend each year buying presents, and a lot of it goes on credit cards. In fact I believe a major reason people overspend is because it is so easy if you are using plastic to 'pay' for it. I am filing bankruptcy cases now for people and see the Christmas charges on the statements and while the purchases may not be extravagant, many purchased more than someone in financial stress should have paid.For people who don't file bankruptcy to get out from under the debt load, it will take years to pay off those 2007 Christmas purchases. If people started a little savings account now and put $25-$50 per pay check into the account, there would be cash to buy presents for the next holiday season. Maybe you wont' be able to afford anything big, but the security of knowing that those presents won't be causing your debt obligations to climb will be the best present you'll get.
  • Mortgage Crisis
    You can't turn on the TV or open a newspaper without seeing another report on the mortgage crisis. This isn't just the problem of the people whose homes are foreclosed - this problem is affecting everyone. Homes are being foreclosed upon in unprecedented numbers, and neighborhoods everywhere are seeing home values dropping as more houses flood the real estate market. Lenders have less money to loan out, and even borrowers with good credit are having problems finding financing.This is a controversial subject, with many people blaming the borrowers for getting in over their heads. But it isn't that simple. In my encounters with clients, these homeowners (or former homeowners) didn't intend to get into this mess. Many faced job and income loss, medical problems or divorce - all problems that were beyond their control. Others didn't realize that A.R.M. rates would rise beyond their ability to pay, or believed brokers and other real estate advisers who told them that they could refinance before the rates increased.No matter the reason, America has a problem that has to be dealt with, and soon. Bills are being introduced into the House and Senate that may hold some relief, with borrowers paying lenders, lenders making a profit, and the government not being the one to provide the bail out. These bills would allow court supervised modification of loans in the United States Bankruptcy Court. Lenders will bear some of the responsibility of this solution in sacrificing higher interest rate returns, but still being paid for the loans at rates that will still provide profits. In fact, keeping people in their homes and preserving a performing loan will help provide a profit that was destined to be lost in the foreclosure.For more information regarding the mortgage crisis and the mortgage solution, please read my article on the BankruptcyLawNetwork, where you will find many articles on this issue as well as other information about bankruptcy.
  • How Is Bankruptcy Like Gastric Bypass Surgery?
    Like gastric bypass surgery, bankruptcy can yield dramatic results in a short period of time and give you the ability to get where you need to be quickly. Like surgery, it isn't for everyone and it can be painful. Like surgery, bankruptcy can be life saving; financially life saving when you have debts you can't repay. Most important, like gastric bypass surgery, bankruptcy is a tool for good short term success, but the long term success depends on the ability of the person to live on a healthy financial "diet". If a person files for bankruptcy, but doesn't have a budget that is balanced, they stand a good chance of getting back into debt again. Therefore when someone takes the serious step of filing for Chapter 7 or Chapter 13 bankruptcy to get out of debt, it is important for their financial future that they take steps to stay out of debt. Think of the budget like a financial diet plan, crucial to your long term health.