One of the major concerns people have when they consider filing for bankruptcy is the damage it will do to their credit. Understandably, they worry that their credit score will plummet and that it will be difficult to...
What can you do about a judgment lien filed against you by a creditor or debt buyer that is now out of business?
Law firms like Mann, Bracken that have closed down, filed bankruptcy themselves, or otherwise disappeared still appear as judgment creditors on thousands of credit reports. In many cases, you may have legitimate grounds to challenge these judgments:
bad service
insufficient documentation
incorrect identity
In other cases you may be willing to offer money to settle the outstanding debt so that the judgment will be removed from your credit report.
Your spouse’s credit will not be affected by filing a bankruptcy unless you owe money jointly with your spouse. Furthermore, if you and your spouse jointly owe a debt that remains current, your spouse’s credit should not be impacted. I will speak specifically about spousal...
Did you ever wonder why certain items appear on your credit report? The answer lies in a federal statute, 15 U.S.C. 1681c. A consumer reporting agency may not make a report that includes the following items:
“(1) Cases under title 11 or under the Bankruptcy Act...
Most people, both lawyers and non-lawyers, believe that filing bankruptcy does not result in a discharge of a student loan. That, for the most part, is true under the 2005 Bankruptcy Act amendments. The code, as amended, does not provide for the discharge of...
Most of the posts on this blog, and in fact on most bankruptcy blogs, focus on the consumer as the bankruptcy debtor. That makes sense--most bankruptcy cases involve a consumer debtor and a number of institutional creditors, like banks and credit card companies. And those banks...