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Archive for March, 2009

A Song About Bankruptcy? »

No kidding.  Our friends over at Bankruptcy Bill have posted their first single, “Bankruptcy Lover.”  Check it out!
Click here to listen to “Bankruptcy Lover.”

Is Filing Bankruptcy Embarrassing? »

Do not feel embarrassed for filing bankruptcy.  Illinois Bankruptcy Attorney Andy Miofsky says, “Bad things can happen to good people.”  When you suffer financial misfortune, bankruptcy offers a solution.
First off, few will learn of the bankruptcy.  While the filing may be reported in certain law-related publications, most major newspapers and local newspapers do not have [...]

Credit Card Charge-Offs Hit 6.3% Last Year »

Banks had to write off as uncollectible over 6% of their credit card balances in the last three months of 2008.  If this is what “nearing the end of a recession” looks like, let’s hope it ends soon.
We have reported here about the banks (and American Express) cutting credit lines to reduce their exposure to [...]

Debt Collection Abuse You Have to See to Believe »

View this video report by Dateline NBC showing very disturbing debt collection practices.  If you believe you have suffered from abusive debt collection, you should contact an experienced consumer attorney to discuss your situation.

Is a Criminal Attempting to Collect a Debt From Me? »

The answer is maybe.
View this disturbing video report by Dateline NBC showing certain debt collectors and their companies.  The report discusses abusive debt collection practices.  It also shows debt collectors posing as attorneys in order to collect money.  Most shocking, the report indicates that some collectors Dateline encountered have serious criminal records!
If you believe you [...]

Debit Cards Can Be Expensive! »

My son uses his debit card to pay for most everything and doesn’t write checks.  Yet, he kept getting overdraft notices from the bank.
What we soon discovered was that the bank was letting charges go through even though he didn’t have enough money in his account to cover the purchase.  And, of course, they charged [...]

How to Stop Credit Card Junk Mail Offers »

Are you as sick as I am receiving numerous credit card offers everyday in the mail?  I used to mail back the prepaid envelope to the credit card company just to cost them the postage on the envelope – until they started using barcodes on the envelopes and I was afraid they would track it back to [...]

Ten Reasons to Delay Filing Bankruptcy! Reason No. 4: Pre-Bankruptcy Transfers »

In determining when to file a bankruptcy consideration should be given to whether you have made any transfers which can be reversed.  In certain situations the Trustee or a Creditor may be able to recover property or money that has been transferred and have those assets brought back into the bankruptcy estate to be available [...]

Massachusetts: Means Test Not Safe Harbor in Chapter 7 »

Massachusetts Bankruptcy Judge Rosenthal issued an opinion recently in the case of In re Boule, No. 08-43199-JBR (March 18, 2009). The United States Trustee moved to dismiss the case because the debtor’s income and expense schedules indicated that he had more than $900 left over each month to pay creditors. The debtor responded [...]

Are You Really Ready to File Bankruptcy? Things You Will Need. »

You’ve gotten some information about bankruptcy and you think that you need to file.  But are you really ready?  Do you have the documentation that your attorney will need?  Keeping in mind that practices vary across the country, this post will discuss some of the basic documentation you will need for your attorney so that you avoid [...]