Consumer Credit Issues

04 Apr Your House Is In Foreclosure: What Should You Do? Part Two

In Part One, I discussed some of the options you may consider when your house (or other property) is in foreclosure, namely mortgage modifications and short sales. This post will focus on whether a deed in lieu of foreclosure, or a Chapter 13 bankruptcy may...

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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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28 Apr What Are The Real Benefits Of The Bankruptcy Discharge?

income for bankruptcy--profit loss statementA bankruptcy discharge is one of the primary reasons that a person files for bankruptcy protection. We all should know this, but do we really know what the bankruptcy discharge allows us to do? This is the question that really needs to be answered. First, we need to discuss what the bankruptcy discharge is and then we can speak about the benefits. The discharge can be defined in lawyer terms or in a way that non-lawyers can understand. A legal definition of the bankruptcy discharge is that the discharge creates a statutory permanent injunction against the collection of all dischargeable debts of the debtor. In non-legal terminology, the discharge prevents creditors, whose debts were properly included in the bankruptcy and legallydischarged, from taking any or all steps to collect on their debt.
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