March 2014

17 Mar Debt Creates Isolation!

IsolationAre you or have you ever been in debt? I am talking about the kind of debt that swallows you whole. The kind of debt you obsess about counting. As you continue to count each dollar you owe, the tighter your chest becomes. The debt continuing to squeeze until you can’t breathe anymore. Your obsession becomes the debt you have accumulated and believing that without a miracle you are never getting out of debt.
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06 Mar Can Bankruptcy Rescue You from a Financial Scam?

investment fraudHas anyone ever offered you $500, $1,000, $2,000 or more for you to sign your name - no strings attached? Assuming you are not a celebrity working an autograph show, cash offers like this are not likely to happen. Yet I hear stories about these “too good to be true” offers at least once or twice a year from my bankruptcy clients. And when I see this type of situation, I know that my client likely has a real mess on his hands. One of these cases from several years ago sticks out in my mind. I’m going to change the facts to protect my client’s privacy but the principle will not change. My client, Jack, worked in the billing department for a county government, and he lived in a quiet, residential neighborhood. Jack had no pressing financial issues.
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02 Mar Bankruptcy Means Test: Student Loans Used to Obtain Dentistry Degree Not “Consumer Debts” Under Section 707(b)

The 2005 Bankruptcy Reform Act's "means test" for chapter 7 bankruptcy filers was weakened by a recent ruling from a Texas bankruptcy court. Under this ruling, student loans incurred for the purpose of obtaining a professional degree to be used in business are not "consumer...

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