Mortgage companies routinely ignore Chapter 13 bankruptcy law.
You complete your plan payments, believing you are once again current with the mortgage, having accomplished your goal.
But then, you get a notice from the mortgage company, claiming you still owe them thousands of dollars.  Or, worse still, you just get a notice of a foreclosure sale [...]

Popularity: 45% [?]

In my last blog, I touched on how Bankruptcy was a “snapshot” in time wherein all information on the bankruptcy petition must be accurate as of the date your bankruptcy petition is actually filed. In this blog, the ramifications of filing a month later is explored. We take the example of filing in April 08 [...]

Popularity: 47% [?]

With the advent of the new Bankruptcy laws in 2005 came a plethora of new changes and requirements, most of which require numerous substantiating documents which also coincide with strict time frames. Failing to supply such documents and/or abide by the new time frames might mean something as slight as continuation of your case to [...]

Popularity: 42% [?]

         The tax stimulus law went into effect on February 13, 2008 when it was signed by President Bush.  The law gives a rebate to all taxpayers who file returns for 2007 and who made $3,000 or more.  It gives a rebate of $600 to the filer, $600 to the filer’s [...]

Popularity: 30% [?]

April 1, 2008, is the last day for citizen comment on an important regulation! The date may be full of irony but this deadline is no joke. The US Trustee has submitted a proposed rule that includes specific requirements for the credit counseling “briefing” required of all individual debtors by 11 USC §109(h)(1). [...]

Popularity: 18% [?]

In a March 30th article by reporter Kevin G. Hall of McClatchy Newspapers, he recounts the struggle of distressed homeowners seeking the relief promised by the Bush Administration and mortgage lenders.
The lesson learned from Hall’s subjects – Chris Jennings and Julie Mickley – is that homeowners must be bold and relentless in dealing with their [...]

Popularity: 31% [?]

My office has been flooded this week with clients with failed offers in compromise for IRS tax debt. Like most clients, they have been clinging to the hope that there was a solution other than bankruptcy.
The comparison of OIC vs. bankruptcy is neatly laid out in an article by Larry Heinkel in the Florida [...]

Popularity: 25% [?]

If you are filing a chapter 13 bankruptcy case and have purchased household goods under a “rent to own” contract, you may wonder how to treat this debt in your chapter 13 repayment plan.  Because rent to own contracts typically involve total rental payments amounting to many times the actual value of the items “purchased,” [...]

Popularity: 19% [?]

Bankruptcy attorneys practicing in the Middle District of Florida, Jacksonville Division received the following email from Chapter 13 Trustee Doug Neway:
“Effective with all cases filed on May 1, 2008 or later: . . . All plans should be calculated using a 10% fee. This change is necessary to insure sufficient fund are collected during the [...]

Popularity: 27% [?]

Most credit card debt can be wiped out in bankruptcy. The most common way to lose that right is for a lender to prove they were defrauded. Only rarely do folks intentionally charge up a credit card without having some intention of eventually repaying it and they are even less likely to confess it in [...]

Popularity: 33% [?]