As real estate values plummet and foreclosures skyrocket in California, more and more debtors are inquiring as to whether Bankruptcy can stop Foreclosure. The short answer in most cases is Yes. With few exceptions, a Bankruptcy will stop a foreclosure proceeding and save a home. The bigger question, however, is how long will the foreclosure [...]
January 2009
According to a recent article in The Huffington Post, Citigroup has gone back on its word to Congress that if its customers didn’t breach their credit card agreement it wouldn’t raise their interest rate. When Congress was considering imposition of new rules on credit card companies in 2007 because of perceived abuses in their practices, [...]
If you are considering Bankruptcy Protection, you are not alone! As real estate values continue to decline, the economy struggles, and government bailouts seem to have little effect, more and more San Diegan’s are turning to Bankruptcy Protection. For the year ended 2008, there were 13,633 filings for the Southern District of California Bankruptcy Court. [...]
According to a recent article, if you live in Lithuania and don’t pay your bills, you may get a call from a witch. Really. The director of Skolu Isieskojimo Biuras, a debt collection firm, says about their witch, “Our new employee will help [people who owe money] understand the situation, reconsider what is right and [...]
Fannie Mae has a pilot project to test short sale (definition by southern Oregon Bankruptcy Attorney Karen Oakes) as foreclosure alternative. Fannie tries short sales over foreclosures Fannie Mae recently launched pilot projects in Phoenix and Orlando intended to reduce foreclosures by pre-approving short sales, agreeing on a price and the loss it will take [...]
Chapter 7 bankruptcy trustees have a dirty job in consumer cases. Sometimes they have to be harsh to do it right. But if you’re playing by the rules, they hope it will be as painless as possible. Trustees don’t exist to make you feel bad for having to file bankruptcy. That’s the first most important [...]
