If you incur medical bills after you file a Chapter 7 or while you are in a Chapter 13 bankruptcy case, you are responsible and liable for paying those medical bills. However, if you incur medical bills while you are in a Chapter 13 case and then convert to Chapter 7 – those medical bills are [...]
March 2009
Bank of America can gouge its credit card holders with court approval according to the 7th Circuit Court of Appeals. As if 18% interest isn’t enough, the bank was allowed to get away with increasing the interest rate to 32% retroactively when a credit card account exceeded the credit limit for two successive months. The [...]
The Banks in the United States have run wild for way too long. In Southwest Florida, it seems that there is a bank on each and every corner. The competition is fierce to get your business. This competition spreads right to the credit cards and debit cards that you and I carry in our wallets. [...]
The Madoff case reminds us that bankruptcy trustee has the right to “claw-back” certain types of transfers. Are you at risk?
Even the Simpsons have fallen on hard times and are facing foreclosure due to their Home Equtiy Loan issued by Countryfine. Not only did the Simpsons get roped into an adjustable rate mortgage but Countryfine gave them a balloon and a “not understanding the contract” fee.  Matt Groening takes a satirical look at the current economic crisis [...]
Paying interest rates that are abnormally high compared to everyone else’s could be a red flag that the bank is having liquidity issues. Asset quality issues will appear if the bank’s past due loans and non-accruals are higher than the norm. Some other red flags include: if a bank has a concentration in brokered deposits, if [...]
