Colleague Dana Wilkinson calls it “foreclosure limbo.” You made the difficult decision, accepted reality, you cannot pay your debts, and, even filing bankruptcy, cannot keep your condo. Or, like one of my clients, the condo you bought for your son’s family, which they could no longer pay. Whether in a Chapter 13 bankruptcy, or Chapter [...]
chapter 7
The Bankruptcy Code mandates that the debtor take a credit counseling course within 180 days prior to filing bankruptcy. The course is one of the many useless hoops debtors must jump through prior to filing their bankruptcy petition. If you really want to avoid bankruptcy, this “course” is not helpful I, like any other [...]
Bankruptcy Petition Preparers. Should you hire one? Let’s face it. Folks with financial problems aren’t exactly flush with cash. So it’s tempting to cut corners in purchasing legal advice and to opt for the services of a bankruptcy petition preparer. But as with most things, you get what you pay for. Preparers really can’t–at [...]
So you’ve found the cheapest bankruptcy attorney in the market. For only the price of $250.00 and the court costs, he’ll file your case provided you give him several post-dated checks for the balance of his fees. So you can file now and pay later. Great!!! (For you, not for him – read on to [...]
Explaining the differences between Chapter 7 and Chapter 13 bankruptcy can be difficult. There are the obvious ones: Chapter 7 doesn’t involve payments to creditors, and Chapter 13 does. And you can cure your mortgage arrears in Chapter 13 but not in Chapter 7. And there are many others. But what about the differences in [...]
If you have been reading Bankruptcy Law Network recently, you would have seen various articles about reaffirmations. What they are, what they do, under what circumstances you should reaffirm a debt or mortgage and when you should not. There are even some courts that say you must reaffirm a car loan in [...]
