Click Here To Receive FREE Email Updates!

Archive for December 12th, 2007

Student Loans, The Next Financial Crisis! »

If the sub-prime mortgage crisis hasn’t broken the back of the middle class consumer, the student loan collection industry will soon be taking a swing at it. The future is not looking good for the American middle class.
The 2005 legislative changes made Bankruptcy more difficult and more expensive for the consumer debtor.  Creditors are now [...]

Authenticating the Means Test »

The means test and the related calculation of monthly disposable income are so complex and full of legal uncertainty that asking the debtor to sign the form seems like either a farce or a trap.
The form solicits information about income “received and derived” within the past six months. There is no legislative history to [...]

Don’t Skip The Mortgage For Christmas! »

There’s often a balloon in bankruptcy and foreclosures soon after Christmas in part because folks “skip a payment” to buy presents. This is never a good idea and now it is even worse.
First, if you want to keep your home, the mortgage comes before virtually everything. I tell my clients it comes before [...]

New Bankruptcy Bill One Step Closer: Help May Be on the Way »

Democrats in the House of Representatives that are pushing legislation to reform the Bankruptcy laws won support from a Republican yesterday. Ohio Republican Rep. Steve Chabot signed onto the bankruptcy bill being considered by the House Judiciary Committee. The bankruptcy bill would allow Bankruptcy Judges more flexibility to change the terms of some [...]