December 2008

Today’s Wall Street Journal (December 31, 2008) has a front-page story titled, “Mortgage ‘Cram-Downs’ Loom as Foreclosures Mount.” Discussed is the question of whether the new congress will allow “cram-downs” of residential mortgages in Chapter 13 and 11 cases. A cram-down is where the terms of a mortgage are changed in bankruptcy. The interest rate […]

What does the term Adverse Action mean? The Fair Debt Collection Practices Act (FDCA) and the Equal Credit Opportunity Act (ECOA) use the same definition for Adverse Action. Adverse Action includes any of the following: The refusal to grant credit in substantially the amount or on substantially the terms requested; Termination of credit or an […]

In a recent article found on the Bankruptcy Law Network, “Credit Card Limit Cut Based On Where He Shopped”, Jonathan Ginsberg, an Atlanta Consumer Lawyer discusses the case of Kevin D. Johnson, a resident of Atlanta, Georgia. American Express cut Mr. Johnson’s credit limit citing “the poor repayment history” of other American Express customers who shopped at […]

The “Means Test” was one of the most dramatic changes in the BAPCPA legislation in 2005. It was supposed to bring clarity to how to determine whether above income debtors can file Chapter 7, or how much they had to pay into a Chapter 13 plan. It didn’t. “Current monthly income” is supposed to be […]

As a mortgage foreclosure defense attorney in Southwest Florida, I’ve witnessed mortgage modifications work in many instances; however, the overwhelming majority are going nowhere fast.  You definitely need someone who knows what they are doing to help you.  When you add a tax lien to the mortgage modification mix, you could all but guarantee the […]

The biggest problem that every bankruptcy client has is organization.  Financial problems have a way of causing chaos.  Which bill do you pay first?  Which collection agency do you satisfy next?  How in the world do you collect all those documents necessary to file bankruptcy? In fact, the issue of disorganization is one that typically […]