The Bankruptcy Code was amended in 2005 to make it seem harder for people to file a bankruptcy case. Most people who file bankruptcy cases are just like you. Your debts constitute mostly “consumer debts”. For today, let’s think of a “consumer debt” as a debt you incurred for your personal reasons and not for [...]
December 2009
Mortgage Modification in Bankruptcy not Dead Yet On December 9th the full House of Representatives will consider H.R.4173, the Wall Street Reform and Consumer Protection Act. Â A bipartisan group of Representatives will offer an amendment to that bill to allow bankruptcy judges to modify the loans of homeowners in a Chapter 13 Bankruptcy. Much like [...]
As a Florida foreclosure defense attorney, I’ve counseled literally thousands of people about their past due mortgage. The first thing I tell my client to do is emotionally divorce yourself from your home. The mortgage industry looks at the American homeowner like cattle, and there is no concern whatsoever about the social implications of mass [...]
Credit cards and loans owed at the time a bankruptcy case was filed are subject to being discharged in bankruptcy, but once a case is filed any new debts that come up after that file date are normally not. The date of filing serves as a cut off date in most Chapter 7 bankruptcy cases, [...]
The US Treasury Department announced today that it recovered $200 Billion of the $700 Billion bailout for financial institutions. Â Despite popular belief, the Bailout was not a free handout. Â The money came with strings and the banks want out from under the TARP. A number of banks have already paid TARP money back. Â One of [...]
