Why would a family member steal a child’s social security number and obtain credit in the child’s name? More importantly, what kind of company would give credit to a child after a reasonable inquiry? Desperation is the only rational explanation that I can think of, and that is on both the person stealing the [...]
August 2009
A mortgage lender which received TARP funds, or which voluntarily signed up for President Obama’s HAMP program, must suspend a foreclosure action while a borrower’s mortgage modification application is pending. That’s good news. HAMP is the modification program of the Home Affordable Plan. (HARP is the refinance program.) Lenders can sign up to participate. Banks [...]
It happens all too often, and it is always sad. A family member dies with outstanding debts, and the collectors call the survivors. You are generally not responsible simply because you were a relative, although there may be a special law in your state for some limited purpose. In Massachusetts, a spouse is obligated for [...]
Frequently I will see clients in my bankruptcy law practice that have received a demand letter from an out of state attorney seeking payment of a debt. What is the likelihood that the out of state attorney will sue to collect on the debt? The answer is not very likely! There are a couple of [...]
Any person considering bankruptcy always wants to know what is going to happen to their “stuff”. This is an area of great concern and stress for anyone with financial difficulties. Unfortunately, there is usually not a blanket answer to this question. Each state has different laws relating to what a person may keep as their [...]
The most common form of consumer bankruptcy, a Chapter 7 filing, takes about 90 days to complete. Â For each case filed, the court assigns a trustee and schedules a date for a meeting of creditors. Â This meeting occurs about 30 days into the process. Â (And it does NOT take place in a courtroom.) At the [...]
