Mortgages can be cancelled in a process called rescission. Here’s an overview. Grounds for exercising this right given borrowers by Congress are found in problems with the mortgage closing documents for a residential second mortgage or refinanced mortgage.
Problems include the absence of Truth In Lending Disclosures, such as the Annual Percentage Rate (APR) for [...]

Borrowers have three days to cancel a mortgage after signing the papers.  That three days is extended to three years (four years in Massachusetts), if the papers have certain problems.  The extension can even be forever, meaning that it can be used as a defense called recoupment, to oppose a foreclosure.
Cancellation is also called rescission.  [...]

The government’s accountability office reports a 50% increase in the cost of bankruptcy. A large part of the increased expense can be traced to the means test, that supposedly objective measure of whether an individual has the ability to repay his creditors some of the debt he owes.
On this site, Kurt O’Keefe looked at [...]

The slowing economy and ever climbing debt load has overtaken Mervyns Department Store.  On July 29, 2008 Mervyns has filed for Chapter 11 Bankruptcy Relief in the District of Delaware.  In an effort to assist Mervyns with the restructuring of its debt, Wachovia pledged $465 million.
Debt is everywhere and no one and no company is [...]

Massachusetts Bankruptcy Judge Rosenthal in the recent case in re Zmijewski, 2008 WL 2705508 (Bankr.D.Mass.2008), added a decision to the many dealing with trusts and homesteads in Massachusetts. The Chapter 7 debtors, before their case was filed, conveyed real estate to a self-settled trust. The debtors were sole trustees and beneficiaries. However, they [...]

Bankruptcy laws were massively changed effective October 17, 2005.
One of the selling points, was that too many people were filing, and this cost the rest of us $400 per year, because our cost of borrowing was higher to cover the losses from all those deadbeats filing Chapter 7.
Well, the credit card company losses were [...]

No!  Objections to claims do not need to be served in the same manner under Bankruptcy Rule 7004 as Adversary Proceedings.  This is because even though an Objection to Claim is a Contested Matter generally covered by Bankruptcy Rule 9014, the claims objection process is further governed by Bankruptcy Rule 3007.

In order for a debt to be governed by the Fair Debt Collection Practices Act, there are some requirements:

The debt must be a consumer debt: The debt must have been incurred for personal, household, or family reasons;
A debt collector must be involved: A debt collector (not the original creditor) collects for another;
The [...]

Affinity credit cards are credit cards typically offered through a partnership between a lending institution and a non-financial organization such as a school or a non-profit organization.  Usually, the organization receives a percentage of each purchase made on the card.  Cardholders may receive discounts or special deals from the organization.

 
Jacksonville bankruptcy attorney Robert Wilbert is accustomed to giving away his legal expertise as a staff attorney for Jacksonville Area Legal Aid, but the free service he provides thousands of his colleagues is just as priceless.
Since the enactment of The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in late 2005, practicing consumer bankruptcy law has become [...]