Today, the Senate voted on Senate Bill 61, the bill which would allow homeowners, consumers, everyday Americans, to modify their residential mortgages in bankruptcy.   This bill had been debated for over 8 months, mostly during the presidential elections.  The Bill did not pass.
Other types of mortgages can be modified in bankruptcy; other types of loans [...]

You have a right to get a free credit report once a year from each of the three credit reporting agencies.  Why haven’t you done it yet?
According to the 2009 Consumer Financial Literacy Survey was released in Washington, DC on Tuesday by the National Foundation for Credit Counseling (NFCC), only one-third of those adults surveyed had ordered [...]

Part 16 of my review of Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know” examines Chapter 22:  Rebuilding Credit. The purpose of the review is to examine whether Trudeau,  who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this [...]

Part 15 of my review of Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know” examines Chapter 20:  Stop Debt Collectors Cold. The purpose of the review is to examine whether Trudeau,  who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense [...]

You can.  And maybe you should.
“No one should be confused about what a bankruptcy process means… [It] is not a sign of weakness…”  This is what President Barack Obama said today in discussing the fact that Chrysler is declaring bankruptcy.  Obama said that Chrysler’s bankruptcy was “…one more step on a clearly chartered path to Chrysler’s [...]

If you pay your credit card bills late, you are in good company.  Almost 58 million Americans admit they don’t pay their bills on time.  That is almost 26 percent of all adult Americans.
The 2009 Consumer Financial Literacy Survey was released in Washington, DC on Tuesday by the National Foundation for Credit Counseling (NFCC).  The survey [...]

Small corporations may have their names on the shareholder’s credit card, but likely are not actually liable for the charges made on the card.  Clients come with lists of “personal” credit cards and “business cards” for their corporation or LLC.  In looking at bankruptcy options, we need to know which debts are those of the [...]

“I can’t file bankruptcy.  I heard that a trustee will come into my home and take what he wants.” 
Is there anything more frightening than this sentence?  It isn’t true, of course, but the fear is real.
Yes, there is a remote one-in-a-bazillion chance that a trustee can get an order allowing seizure of unprotected property, but [...]

When determining when to file for a bankruptcy, an issue to consider is whether a delay in filing can place the debtor within the current monthly income guidelines for his state.
Under the changes to the bankruptcy code that resulted from the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), a debtor who wants [...]

The most frequent complaint made about attorneys is the lack of communication or not returning phone calls requesting information.   Attorneys generally know this.  So, why wouldn’t an attorney return phone calls on a timely basis?