Jobless rates across the nation now top 8.5%. The are the worst numbers seen since 1983, and they are expected to continue to rise. NC and SC are said to be some of the hardest hit states, with February statistics showing 10% unemployment or higher. Without a paycheck, armed only with hope that they will [...]
April 2009
Every week we get clients filing for bankruptcy protection asking questions whether they should proceed with a short sale on their real estate. The bottom line, is that if you are filing for bankruptcy, you should forget about a short sale in most situations. Lets first define what a short sale is. When you sell [...]
Illinois Bankruptcy Lawyer Andy Miofsky says, “A lack of income will be fatal to most chapter 13 cases. If you are unable to fund your existing plan, that plan will no longer work. You have six basic choices, some of which might offer assistance, while others will not solve the problem.” First, you can ask [...]
“No, you are required to include all of your debt, including credit cards, when you file bankruptcy”, says Illinois Bankruptcy Attorney Andy Miofsky. Some clients ask whether they have to list one or two of their favorite credit cards. They want to know whether they can keep using those cards after they file. That does [...]
Legislation has been introduced in Congress to limit credit card interest rates. In other action, credit card companies, which already have made big moves in lowering the amount of credit card debt they will lend, are changing their rewards programs. To offer more rewards? Same rewards for less money? No, fewer credit card bonuses for [...]
Maryland consumer bankruptcy attorney, and Bankruptcy Law Network contributing writer, Brett Weiss testified before Congress today. In testimony before the Judiciary Commercial and Administrative Law Subcommittee on April 3, 2009, Brett testified in favor of proposed legislation that would regulate interest rates, excessive late fees and other practices and tactics of the credit card industry that [...]
