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 [...]
March 2008
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 filers spouse and $300 for each [...]
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). The relevant [...]
Probably not. The Fair Debt Collection Practices Act provides two locations where a consumer may be sued by a debt collector. Section 1692i(a)(2)(A-B). If the action is not to enforce an interest in real property securing the consumer’s obligation, then a debt collection action against a consumer may only be brought in: The judicial district [...]
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 [...]
Clients often think that when a debt is “charged off” it means that they don’t owe it. This is not true. When you fall seriously behind on your payments, usually 6 months worth, the creditor will normally charge off the debt. This simply means that the creditor thinks the debt is uncollectable for tax purposes. [...]
