A sure way to stop creditors from contacting you is to file for bankruptcy. Under the U.S. Bankruptcy Code, once you file with the Court, an order called the “automatic stay” goes into effect immediately and without you or your attorney doing anything more than filing your petition. But, if you are saving your money [...]
August 2010
Can a judgment creditor seek to garnish funds in the possession of the Chapter 13 Trustee after a Chapter 13 case is dismissed? The answer is yes in Orlando. A recent bankruptcy decision in the Orlando Division of the Middle District of Florida holds that if a Chapter 13 Debtor’s case is dismissed and the [...]
Approximately 16 months ago, President Obama made a pledge to help 7 to 9 million families avoid foreclosure. Well, the most recent statistics for May 2010 have been released and the statistics confirm that the HAMP program is failing miserably. Since that time, more people have been kicked out of the program (over 435,000 families) [...]
You’re told you need to “affirm” or “reaffirm” your mortgage loan to keep your home despite your bankruptcy. Don’t do it. Here’s why. First, I’ll put on my lawyer hat. It’s called “reaffirm”, although it’s a weird word and people often only remember “affirm”. It means that you want to re-agree to the loan agreement after [...]
Chapter 12 Bankruptcy is a powerful tool for operators of small farms to resolve their debt problems. Farming and debt often go hand in hand. This is particularly true for New York dairy farmers. They are being paid 20 percent less for unprocessed milk than they received in 2008 – even while milk prices at [...]
Are you having problems paying a monthly mortgage payment? Are you living in fear of default? Here are some of the warning signs that your mortgage is a time bomb waiting to go off. The first is the size of your mortgage payment. If your payment is more than third of your monthly take-home pay, [...]
