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Archive for August, 2008

Good News For California Tenants Whose Landlords Received Foreclosure. »

On July 8, 2008, California passed urgency legislation that extends the time period that tenants have to vacate property recently foreclosed.
Under previous laws, tenants were to be provided a 30 day notice prior to eviction proceedings being filed.  Now the law provides that tenants are entitled to 60 days.

Bankruptcy Filings Nearing Million »

Almost a million bankruptcy cases were filed in the United States in the past year ending June 30, 2008, according to statistics released by the government.

Consumer filings were up 28.4 percent and business filings were up 41.6 percent compared to a year ago.

A Simple Tip To Protect Against Identity Theft »

Identity theft is rampant in this country, and we’ve previously reporting on ways to reduce the risk of identity theft.  But we’re always looking for an easier way to get things done.
Technology has made life in the 21st century a breeze in comparison to the lives our grandparents lived.  The Internet has been the driving [...]

BAPCPA Doesn’t Protect Mobile Home Lenders »

Bankruptcy law allows the modification of a mobile home loan in Chapter 13, the Eighth Circuit Bankruptcy Appellate Panel ruled this week. The 2005 amendments to bankruptcy law did not add mobile homes to real estate mortgages which are generally protected from modification.
Chapter 13 generally allows a person to modify the repayment owed to [...]

I Am Going To File (Or Am In) Bankruptcy. Can I List My House For Sale? »

Listing your house for sale at the same time that you are filing for bankruptcy involves a number of issues, and the answer to the question is a case by case basis. Can you do it? Probably. Should you do it? That needs to be answered by an attorney in your [...]

Congress Moves To Level The Playing Field Between Banks And Consumers »

Credit card company raise your interest rate without notice, pulling the rug out from under you?  If so, you may be in luck.
Boston.com reports on a bill currently pending in Congress would stop credit card companies from just deciding it’s time for them to get more money by raising your interest rates and fees. The [...]

Removing Old Information From Your Credit Report »

Old notations on your credit report are supposed to be removed after a specified period of time.  The problem is that most people don’t know just how long is too long.
Under 15 USC 1681c, a credit reporting agency must remove information that is too old to be reported.  Such information that must be removed includes:

Bankruptcy:  [...]

What Happens To A Foreclosure If You File Bankruptcy? »

There are many posts in these pages and on Mortgage Law Network about the types of foreclosures and the fact that a bankruptcy filing can stop the process.  But what happens then?  Just because in most states a bankruptcy stops a foreclosure (but see Gene Melchionne’s article on Connecticut foreclosures), it doesn’t end it.
The foreclosure [...]

Fair Credit Reporting Act Terms Defined. What is a “Credit Repair Organization?" »

A Credit Repair Organization (CRO) is an organization (or and individual) that provides or offers to provide services improving a consumer’s credit record, credit history, or credit rating for a fee.  A company can also be considered a CRO if it provides advice or assistance to a consumer on how to improve their credit.
Non-profit credit counseling organizations, creditors [...]

When Is An Undue Hardship Not An Undue Hardship? When It Involves A Student Loan. »

Student Loans are generally not dischargeable in bankruptcy, and there is no statue of limitations on their collection. This makes it very difficult to get away from a student loan, and now it appears that the bar has been raised and it is even harder to receive a hardship discharge from a student loan [...]