Many of my clients really love their credit unions because many credit unions really do provide excellent customer service – they are personable and compassionate, much more so than traditional banking giants. Many of my clients are sad to learn that credit unions may cease to conduct business with them or decline to extend […]
One of the most important and basic elements of the Bankruptcy Code is the automatic stay which comes into effect the moment a debtor files for bankruptcy. Automatic, immediate – an injunction against all your creditors to stop collection efforts. Creditors who are reputable, large, have been conducting business for decades, and want to conduct […]
Lately it seems like I’ve had a lot of questions about rebuilding credit after bankruptcy. Let’s start with an excerpt from the website www.myfico.com, which is widely regarded as an expert in all things credit score, regarding how long any negative information remains on your credit report:
What is non-exempt equity why do I can about it in bankruptcy? In order to answer this question, a few terms need to be defined. First, equity is the value property has beyond any amount owed. Second, non-exempt means there is no statue or law the protects the asset from creditors. With that clarified, non-exempt […]
Many people worry about what happens if they file bankruptcy. The worry about what will happen to their house, or their car. The worry about their credit or income. There is just a lot of worrying involved, which is ironic, because a properly filed bankruptcy case can be the best way to alleviate a lot […]
Have you heard this from serious runners? They like to posit that there are two types of people in this world – runners and non-runners. Well, as a non-serious runner, I’d like to propose my own version of over-simplifying the entire world’s inhabitants – those who get it, and those who don’t.
If you filed bankruptcy during the past 5 years and have a mortgage with Wells Fargo, you will be getting a check in the mail. In December 2011 an bankruptcy rule went into effect that required mortgage lenders to provide 21 days notice of any change to a mortgage payment. The purpose of this rule was […]
A word to the wise – you use online payday loans at your own risk. Bricks and mortar payday loan companies come with their inherent risks and pitfalls, but online payday loans are a whole separate beast.
Believe it or not, higher income people do actually file bankruptcy. We’ve filed thousands of bankruptcies for people who are “Above Median” income. “Above Median” income basically means that your family’s income is higher than the average based on the size of your family and the state in which you reside. The median income changes every […]
I’ve been a bankruptcy lawyer just one month shy of 11 years. Some of you may think the title question is awful or must mean the person who asks it is just awful at managing their finances. But I’ve been seeing many repeat clients recently. These are really good, hardworking, honest people who come in […]