The short answer to my question: What Is Happening With Mortgage Modifications? NOT ENOUGH! Again and again, I keep saying, judicial mortgage modification, which was up in the House again last week, and lost, is the best solution the government can provide How are the government encouraged mortgage modifications going? Are mortgage modifications working? What [...]
December 2009
The Bankruptcy Code requires Chapter 13 debtors to make their first plan payment within 30 days of filing their case, but they should make their first payment as early as possible. If you file Chapter 13, you are required to make your first payment within 3o days of filing your case. But pay it as [...]
Back in 2005, Congress passed a new bankruptcy law called BAPCPA. Supposedly, this law would prevent bankruptcy abuse and protect consumers. It hasn’t worked out that way. Many people feel that BAPCPA helped bring about the financial meltdown which has been ruining our economy and the lives of millions of American families. One way Congress [...]
#5 What About My Spouse’s Privacy? This continues the series “I’m Filing, My Spouse Isn’t-What Happens?” The series is introduced here. It’s a pity, but your spouse simply won’t have much privacy here. It is part of the “bankruptcy contract” so to speak – you must fully and truthfully disclose, disclose, disclose, and in return [...]
It’s common for persons to lease a motor vehicle, rather than to purchase it using a traditional vehicle loan. It’s also common for such persons to file chapter 7 bankruptcy before the vehicle lease is finished. Often the debtor will continue making the payments on the vehicle, retaining it until the end of the lease [...]
Divorced debtors should take extra care to insure that all information on their bankruptcy schedules is completely accurate. When a client’s been divorced, that raises red flags for me. Are there “hold harmless” type debts that might not be dischargeable in Chapter 7? Should we consider a Chapter 13? How much alimony is the debtor [...]
