11. �THOSE DEBT MANAGEMENT PLANS ADVERTISED ON TV AND RADIO REALLY WORK! FALSE – Most people are optimists about their finances. �Things don’t always get better. Check out this post about Debt Management Plans. 12. �YOU CAN KEEP ONE CREDIT CARD (JUST DON�T TELL YOUR BANKRUPTCY ATTORNEY) FALSE – You need to list all of [...]
September 2009
You can keep property when you file bankruptcy in Chapter 7 in some situations, but usually always in Chapter 13 bankruptcy.
Mortgage foreclosure is primarily governed by the laws of the state where the property exists. State laws vary. In some states–Florida for example–the law requires that mortgage lenders seek a court judgment permitting the foreclosure. This requirement is helpful for consumers because it provides a ready-made venue to assert defenses to the foreclosure–such as Truth [...]
Automatic stay prevents utility companies from shutting off bankruptcy debtors’ utility services on the basis of outstanding debts owed prior to the bankruptcy filing. If a debtor’s utilities have been shut-off prior to the bankruptcy, the debtor, upon the filing of her case, should provide evidence of the bankruptcy proceeding to the company and demand [...]
The mortgage industry and government continue to push loan modifications as a way of saving homes. The Treasury Department released a report showing how that program is working out. The short answer is that it is muddling through. The Office of Comptroller of the Currency reported that 8.5% of all mortgages are now delinquent and [...]
