June 2012

28 Jun Beware Of Bankruptcy Scams

Recently, I learned of a bankruptcy scam in Southwest Florida. On BLN, we have written aboutscams in the past, but many of the scams out there focus on other areas of the debt industry, like debt collectors. This scam deals directly with the filing of bankruptcy petitions in the bankruptcy court to obtain an automatic stay. There is an individual who is either helping people file for bankruptcy or filing petitions on their behalf, without their knowledge, to stop foreclosures. I'm not part of the investigation, and I'm sure the investigation is ongoing, so I will limit my comments to generalities. Either way it appears to be at a minimum, the unlicensed practice of law. You want no part of a bankruptcy scam. Bankruptcy Judges take the filing of a bankruptcy very seriously, and they also work very hard to preserve the integrity of the bankruptcy system. There are two ways that this crook could be pulling off this bankruptcy scam. Either the person who files the petition knows about the bankruptcy filing, or he does not. You may be asking yourself: How could someone not know that they filed for bankruptcy protection? Actually, it is quite easy.
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26 Jun Chapter 13 Bankruptcy Plan Payments Can be Lowered if Your Income Decreases

When a Chapter 13 bankruptcy plan gets confirmed by the Bankruptcy Court, the monthly payments you are supposed to pay to the trustee are set by the confirmation order. But they are not always set in stone. A Chapter 13 bankruptcyPlan can usually be modified if there is a significant and unanticipated change of circumstances, such as an unexpected reduction in income. In many cases your lawyer can make a motion to modify the confirmed plan. If you have less money to pay to the trustee, you can propose to lower the monthly payments. You can also propose tolower the percentage being paid to the unsecured creditors, and toextend the duration of the plan to 60 months, if it not already a 60 month plan. If you are proposing to lower your monthly payments, you will also have to submit a new budget (Schedules I & J). This amended budget must show that your current household income and expenses have decreased your disposable income to the amount you are proposing to pay in your modification. There may be some limitation to how much you can lower your payments to the Trustee.
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22 Jun You get what you pay for with cheap bankruptcy advice.

C. C. Chapman is a big shot in the world of marketing and motivational speaking. He sells advice, not bankruptcy advice, but he talks and people listen. He tells people what he knows and he does it at events big and small. For the right price, he is the go-to-guy. And that price can be big or small, depending on the circumstances, because he figured out the need to charge for his services based on his value. And he measures value based on the needs of his clients. In doing so, he also learned to say no to people who do not value his time – people who want something for free. In his blog, www.cc-chapman.com/2012/a-lesson-in-saying-no/, he tells why he turned down an offer to speak for free to a group who told him “we get the same quality from people we pay or don’t pay.” C. C. believes experience is knowledge that should not be handed over for free to one person and charged to another. I agree, and I believe legal knowledge achieved through years of study and experience should not be undervalued.
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