I was managing to pay on my credit cards til they jacked the rates to 28%, reports client after client in my bankruptcy law office. Often, the call to the card issuer for a payment arrangement itself results in an increase in the interest rate. You have to ask yourself what is the thought process [...]
May 2009
One of the most common topics that I am asked about on a daily basis is the short sale: Â Can I short sale my property? Doesn’t it look better on my credit report to short sale the property? Â Can I short sell the property to a relative? Â What is the difference between a short sale [...]
Are you living from paycheck to paycheck”? What happened to that grand plan to be a billionaire at age 30? What happened is that you didn’t plan to make your dream a reality. Goals don’t just happen, they are reached after detailed planning. The single largest mistake my clients make is failing to make a [...]
There are two states in the United States that follow the old British practice of ‘strict foreclosure’ – Vermont and Connecticut. Strict foreclosure will be ordered by a court in a foreclosure proceeding when there is little or no value to be recognized for the homeowner if the property were to be auctioned. Rather than [...]
According to the Eighth Circuit Bankruptcy Appellate Panel, real estate commissions due from purchase agreements entered into prior to the filing of a chapter 7 case were property of the bankruptcy estate, even though the closings occurred after the case was filed, and even though the real estate agent continued to perform services after the [...]
A big advantage to a Chapter 13 is there is a great deal of flexibility even after your case is filed, should your financial situation change. After all, a Chapter 13 plan typically runs three to five years (closer to five in my experience) and most people experience changes in any three to five year [...]
