An individual cannot file a bankruptcy case without first taking a credit counseling and budget course.
February 2010
In part one, I discussed some recent Bankruptcy Law Network posts on reaffirmation agreements. For part two, though, we’ll focus soley on the reality of a typical auto loan scenario. Forget About the Law “What?” you say. “This site is all about the law!” That’s true, but reality is more important. The reality is that [...]
The first of two credit card reforms went into effect earlier this week. The other reform will not be effective until July 2010. Together, the new laws should provide considerable help to you and other consumers by eliminating some of the worst practices of the credit card companies. The new laws will make the following changes: First, the credit card company [...]
You can still get the tax credit for buying a new home, but time is running out. The much heralded tax credit for new home buyers was extended in November 2009. The tax credit is available to both first-time home buyers and homeowners who have owned their home for five years. First-time homeowners will receive [...]
Today, a Wisconsin client asked what we could do to help save his investment property. It’s worth only about $70,000. It has a first mortgage for $80,000 and a second mortgage for $30,000. Our client bought the property at the top of the market. He can afford the first mortgage, but not the second. And [...]
Bankruptcy law generally prevents the discharge of a debt that is in the nature of support (like child support or alimony) as a “domestic support obligation.” This principle has been extended to protect legal fees charged to an opposing party during litigation over these issues as well. What about legal fees over a visitation fight? [...]
