In yesterday’s review of the Briesch study of debt settlement’s benefits to consumers, I analyzed its defense of the industry’s fees. Today, we will look at some of the data and the way it is put to use in the study. Assoc. Prof. Richard Briesch used a sampling of 4,500 client records from one debt [...]
September 2009
A study of one debt settlement company’s results indicates that employing them is not really a bad idea compared to traditional credit counseling or paying off your debts. The study mostly treated bankruptcy as a failure, not an option. Almost every industry that is facing public controversy or legislation (or currying legislative favor) that will [...]
Debtors whose budget shows they can’t afford to reaffirm the loan on their car may get to keep the car without reaffirmation under a line of decisions by bankruptcy judges. A number of judges have ruled that “pay and drive” survives bankruptcy reform if the debtor signs a reaffirmation agreement that is denied by the [...]
Recently, the Southern District Bankruptcy Court ruled that certain Chapter 13 Debtors could not qualify for Chapter 13 relief since they exceeded their debt limitations. Pursuant to 11 USc 109(e), chapter 13 relief is not available to debtors with unsecured debt higher than $336,900 or secured debt higher than $1,010,650.00.
You should not panic if all your creditors did not file a proof of claim in your chapter 13 bankruptcy. There are many reasons creditors don’t file claims. If you have given proper notice to all your creditors, all your dischargeable debts, including unfiled claims, will be discharged upon the completion of the plan. If [...]
Why is it so hard living on a budget? Â I believe it has something to do with the many unscheduled expenses of life. Do we carefully categorize every dollar spent? Â Probably not. Â As a result, we underestimate how expensive life really is. Yesterday, I joined my wife for a quick trip to the local supermarket. [...]
