The Cost Of Credit It’s hard during the holidays not to pull out the old credit card and buy that one item or toy for a loved one. After all, the kids have been good all year, and they so want a new PlayStation or X-box. And it will only be about $300 or so [...]
November 2009
The filing of a bankruptcy will stop a creditor from garnishing your wages. One of the benefits of filing a bankruptcy is that the bankruptcy “Stays” all collection proceedings. This means that during the bankruptcy a creditor cannot contact you about the debt, can’t sue you on the debt, or try to collect on the [...]
The mainstreem media is acknowledging what consumer attorneys have known for months–that mortgage modification is only happening in a tiny percentage of applications. Mortgage servicers are blaming the homeowners for failing to turn in paperwork; homeowners report multiple mailings of paperwork only to be told they are denied due to errors or incompleteness.
Financial recovery can be difficult and can seem overwhelming to a financially stressed debtor. But when the recovery can be broken down into a series of easy to follow steps and the debtor makes SMART goals, financial recovery is possible.
The Means Test in bankruptcy treats 401K loan repayments differently under Chapter 7 versus Chapter 13. A recent case in Connecticut reveals that it may make no difference. If your income is such that no money would be available for creditors under Chapter 13 then the deductions may be allowable under Chapter 7 as well. [...]
This week, Connecticut Governor Jodi Rell issued a press release touting the success of the foreclosure mediation program in the state.  She claimed a 75% success rate in mediating foreclosure cases with 2721 cases where the homeowners retained their home.  You know the saying, “There are lies, damn lies and then there are statistics“?  Well here [...]
