As April 15 approaches, many people are receiving forms 1099 C from their banks. It’s one last parting shot after bankruptcy and foreclosure. It’s causing panic throughout the nation. Why? My friend Dan Press wrote a nice article about this a few months ago. But now that tax time is approaching, it is not a [...]
April 2011
It’s not unusual for folks to get loans from friends and family when they’re in financial trouble or facing bankruptcy. But it’s good to do the paperwork right sometimes. If mom is going to lend you money to buy a car, she should act like the Bank of Mother and take the time to do [...]
A federal appeals court has added its voice to the growing number of cases which hold that a debtor who converts a chapter 13 case to chapter 7 is still subject to section 707(b)’s income eligibilty standards for filing chapter 7. Left unanswered, however, is the question of what time period must used for the means test’s [...]
Yes, you can file for bankruptcy relief even if the federal government shuts down. The bankruptcy court will still be open for business and operate in a normal fashion. Because members of Congress cannot agree on the budget to fund the federal government, there may be a lapse in funding on Friday, April 8, 2011, [...]
Last week a Columbus, Georgia jury awarded more than $21 million to a soldier in a mortgage servicing dispute. Sergeant Brash bought his home in 2007, and always paid his mortgage through an automatic bank draft. Despite the bank drafts, after about 18 months he began receiving notices that his payments were delinquent. He tried [...]
There are two very important statutes that serve to protect consumers from some of the consequences of too much debt. The first is the United States Bankruptcy Code. Obvious enough since this is the Bankruptcy Law Network. The other statute is the Fair Debt Collections Practices Act or FDCPA. Both statutes individually can help consumers [...]
