This article continues the review of “Debt Cures “They” Don’t Want You to Know About” by Kevin Trudeau. In Part 1, I commented favorably on Trudeau’s explanation of the fees, hidden interest, and charges imposed by the credit industry with silent approval by the federal government. The purpose of the review is to examine whether [...]
March 2009
Generally a bank cannot legally cancel a contract to lend money – provided the borrower is in compliance with all the provisions of the loan agreement. However, when a line of credit matures, the bank is not required to renew the loan unless there is a written provision in the (maturing) contract. If a bank chooses not [...]
As April 15 draws near, clients often ask “Can I keep my income tax refund in bankruptcy?” Depending upon the laws of your state and the amount of the refund, the answer often is Yes! Here’s what you have to do. Like everything else in bankruptcy, it is very important that you be completely open [...]
Some people just want to avoid bankruptcy at all costs.  Some people are not eligible for bankruptcy because they filed for chapter 7 bankruptcy less than 8 years ago.  Can a short sale help? In short sales, a house is sold for less than the amount due on the mortgages.  How does this work?  In a [...]
Congress is working on legislation to allow homeowners to get loan modifications in bankruptcy court. Many banks oppose this legislation but Citibank has signed on.
Two bills have been introduced in the Tennessee legislature to modify some of the strictest foreclosure laws in the nation. HB 0704 would require a mortgage counselor to be consulted before a borrower can complete an adjustable mortgage rate transaction. HB 1443 would extend the time for a foreclosure notice, require that a notice be [...]
