One of the things a bankruptcy attorney needs to know to properly advise a client is whether the client owes money on his or her vehicle(s). While going through the bankruptcy questionnaire with clients, I am frequently told the vehicle is paid for. But when I get to the question of whether the client owes a finance company, [...]
August 2009
When someone files bankruptcy they are normally required to appear at a hearing and testify about their case. The hearings is called a “Meeting of Creditors” or a 341 Meeting. Some people are afraid to get bankruptcy help because they don’t want to go to this hearing. Or they’re afraid of having to testify in [...]
Reader’s Digest, founded in 1922 and America’s best selling consumer magazine, said Monday that it would be filing for Chapter 11 reorganization. From a high of 18 million copies a month in the 1970′s, subscriptions had declined to less than 9 million. Reader’s Digest, which will continue to publish, plans to use Chapter 11 to [...]
meaningful mortgage modification in Chapter 13
homeowners will be losing their homes
keep your home
Often prospective clients ask whether their bankruptcy case will be reported in the local newspapers. Generally, the answer is “no,” your bankruptcy will not be reported. Because folks have seen foreclosure notices listed in their local newspapers, they are concerned that, because bankruptcy is a legal proceeding, their bankruptcy case will also be reported. Foreclosure notices [...]
While attending a Texas advanced consumer bankruptcy seminar last week, I was surprised and amazed (I know, I should not have been) to learn that mortgage servicers consider the ability for a consumer to make their mortgage payments by ACH or EFT (electronic funds transfer) as a “Privilege”. This was in response to me stating that [...]
