Bankruptcy Information

30 Apr Congress Votes Against Consumers Modifying Home Mortgages In Bankruptcy

Posted at 23:11h in Chapter 13 Bankruptcy by Karen Oakes, Esq. 2 Comments

Today, the Senate voted on Senate Bill 61, the bill which would allow homeowners, consumers, everyday Americans, to modify their residential mortgages in bankruptcy. This bill had been debated for over 8 months, mostly during the presidential elections. The Bill did not pass. Other types of...

30 Apr Why Haven't You Gotten Your Free Credit Report?

Posted at 23:08h in Uncategorized by Peter Orville, Binghamton Bankruptcy Lawyer 0 Comments

You have a right to get a free credit report once a year from each of the three credit reporting agencies. Why haven't you done it yet? According to the 2009 Consumer Financial Literacy Survey was released in Washington, DC on Tuesday by the National Foundation for...

30 Apr Senate Bill 61 Does Not Pass Into Law: No Bankruptcy Mortgage Modification Yet

Posted at 22:55h in Foreclosure News, Uncategorized by Karen Oakes, Esq. 0 Comments

The Senate voted today on Senate Bill 61 (and not surprisingly to some, the Bill did not pass. Apparently the Bill needed 60 votes to pass and the vote was 45 for/51 against. President Obama, who had originally embraced the Bill, backed off on support,...

30 Apr Debt Cures: Does Kevin Trudeau Make Money or Sense? Part 16: Rebuilding Credit

Posted at 22:40h in Uncategorized by Karen Oakes, Esq. 0 Comments

Part 16 of my review of Kevin Trudeau's book, Debt Cures They Don't Want You to Know examines Chapter 22: Rebuilding Credit. The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this latest self-help promotion or is he making money selling empty promises? Mr. Trudeau starts Chapter 22 with a "you're on the home stretch" chat with the reader. Trudeau states that he has provided many techniques to the read to get out of debt and that the reader now needs to believe that there is some "good" debt and leave the "bad" debt behind. He congratulates the reader on the self-education attained through reading and applying the principles in Debt Cures and that now the reader is ready to rebuild credit. One of the suggestions for improving your credit that Trudeau makes is use a new version of the "piggy-back" (to have a friend/family member add your name to their account and then your credit improves because of their good standing)--to have a friend/family member co-sign a credit application for you. This can be a good thing if both sides trust each other completely.

30 Apr Debt Cures: Does Kevin Trudeau Make Money or Sense? Part 15B: The Scary Part

Posted at 22:20h in Bankruptcy Basics by Karen Oakes, Esq. 0 Comments

Part 15 of my review of Kevin Trudeau's book, Debt Cures They Don't Want You to Know examines Chapter 20: Stop Debt Collectors Cold. The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this latest self-help promotion or is he making money selling empty promises? At the end of Part 15, I concluded that Mr. Trudeau's chapter on stopping debt collectors had partial really good information which he then negated by repeating bad advice from earlier in his book. I ended by advising that following his advice without getting your own legal advice was scary. Ending on a negative note was rare enough that I thought I should explain further.

30 Apr Senate Votes To Reject Mortgage Cram Down Bill!

Posted at 19:45h in Foreclosure News by Kevin Gipson, New Orleans Bankruptcy Attorney 0 Comments

The Senate, in a vote of 45 -51, rejected the Helping Families Save Their Homes Act of 2009. This bill would have allowed bankruptcy court judges to help families to save their homes from foreclosure by restructuring home mortgages, known as a "cram down". Follow this link...

April 2009