If you are behind on your mortgage and facing potential foreclosure proceedings, is it better to dispose of your property through a short sale (where you sell your home for the market value, even though it’s less than the amount remaining on the … [Read more...]
The Division of Marital Debt When Your Ex Files for Bankruptcy Protection
Suppose that you and your ex had joint marital debt, and you negotiate a property settlement that requires that your ex pay off certain obligations that were jointly incurred. After the divorce is final, your ex files for bankruptcy protection, … [Read more...]
Two Billion Dollars In Relief Headed To Homeowners
In December 2013 the Federal Consumer Protection Bureau, District of Columbia, and 49 of 50 states reached an agreement with Ocwen Loan Servicing that requires Ocwen to provide $2.1 billion in relief to struggling homeowners. The agreement is still … [Read more...]
The Most Common Misperceptions about a Bankruptcy Filing
We live in the information age, but we also live in the disinformation age. Anyone can go on the Internet and start rumors about just about anything. Bankruptcy is no exception. Many false beliefs have become common misunderstandings. Here are some … [Read more...]
Workers’ Compensation Benefits and Bankruptcy
If you have been hurt on the job, and have fallen behind on your financial obligations, a personal bankruptcy filing can stop the endless calls and letters from creditors. You may be worried, though, that the benefits you receive from your workers’ … [Read more...]
What is a Reaffirmation Agreement and Should I Sign It?
When you seek protection from creditors through a Chapter 7 liquidation proceeding, you have the right to reaffirm any debts, such as a vehicle loan. When you sign the reaffirmation agreement, you voluntarily waive the right to discharge the debt on … [Read more...]
What to Do (and What Not to Do) Before a Bankruptcy Filing
If you face unmanageable debt and are considering filing for bankruptcy protection, there are specific steps that you want to take, as well as certain things you don’t want to do, before you actually file. Taking the right steps can streamline the … [Read more...]
The Documents Your Bankruptcy Attorney Will Want to Have
If you are considering filing for bankruptcy protection, whether you have hired an attorney or not, you can start to gather all the documentation that will be required during the process. Here’s a list of the items you want to compile: A detailed … [Read more...]
Stop Garnishment and Levies by Filing for Bankruptcy Protection
When your debts become unmanageable, you face the risk that creditors will take legal action against you, garnishing your wages or levying on your bank account. If you are already subject to a garnishment or you fear that a creditor may seek to … [Read more...]
Why people making $100,000 a year live paycheck to paycheck – Part 2
It only gets worse! When we get a credit card our ability to have what we “want” expands rapidly. We learn very quickly that we can have it today and pay for it later. This reminds me of the character from the Popeye cartoon who was always trying … [Read more...]