The Importance Of Choosing Bankruptcy Attorney With Good Reputation
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Read More posted by: on: Sep 02, 2010 @ 09:36
Should You Sign A Reaffirmation Agreement?
Should you sign a reaffirmation agreement?
A reaffirmation agreement removes a secured loan from your bankruptcy discharge. You will remain personally liable for the loan after your discharge is ordered if you sign such an agreement. You have the right to rescind a reaffirmation agreement at ...
Read More posted by: on: Aug 27, 2010 @ 06:07
Complaints against Discharge
Complaints against discharge filed by creditors.
There is no set dollar limit that will trigger a complaint against discharge, however, the potential for a complaint increases for those individuals with significant unsecured credit card debt.
In the two cases in which complaints were filed again...
Read More posted by: on: Aug 25, 2010 @ 10:44
Is it better to do a Loan Modification Before or After Filing Bankruptcy?
When a bankruptcy is filed, the mortgage servicer will transfer the file from the department it is in to the bankruptcy department. The bankruptcy department NEVER picks up where the other department left off. Therefore, if the modification is not final, then the debtors will need to s...
Read More posted by: on: Aug 20, 2010 @ 10:41
Preparing Yourself For Bankruptcy
Bankruptcy is one of the most difficult financial choices
one has to make. Or rather should we say that people choose bankruptcy when
they have no other choice? You need to prepare yourself well before your
bankruptcy filing.
The first step is to establish that you have explored and
...
Read More posted by: on: Aug 18, 2010 @ 11:50
Tips For Selecting The Best Denver Bankruptcy Lawyer
When you decide to hire a Denver bankruptcy lawyer or a
Colorado bankruptcy lawyer, you should take caution in choosing an attorney
based on his/her experience level rather than basing your decision solely on
price. When you have reached bankruptcy, you cannot afford to make any mistakes.&nbs...
Read More posted by: on: Aug 04, 2010 @ 05:30
Should You Hire a Bankruptcy Attorney?
Is it Necessary To Hire A Bankruptcy Lawyer?
Filing for bankruptcy is one of the most distressing times of one’s life. Bankruptcy is the last resort to deal with one’s overwhelming debt problems and this should be strictly sought only when there are no other options. When people do go for ban...
Read More posted by: on: Jul 21, 2010 @ 11:09
Marital Debt to Third Party Excepted From Discharge
Wodark, Glennette L; In re (Wodark v. Wodark) 20 CBN 648 (Bankr: 10th Cir: 2010).
This case comes from the 10th circuit, in which Colorado is a member. A husband and wife obtained a divorce and listed a debt in their divorce papers the wife was to be solely responsible for. Th...
Read More posted by: on: May 04, 2010 @ 01:45
May remove 2nd mortgage in Ch.13 but not Ch.7
Grano, Jospeh S. and Ann; In Re (Grano v. Wells Fargo Bank) 20 CBN 438 (Bankr. W.D.N.Y. 2010)
The holding of Dewsnup v. Timm, 502 U.S. (1992) continues to bind chapter 7 debtors.
The Chapter 7 debtors filed an adversary proceeding against Wells Fargo Bank N.A. The debtors alleged that their home ...
Read More posted by: on: Apr 30, 2010 @ 10:22
Foreclosure sale validated after bankruptcy
Stay annulled to validate post-petition foreclosure sale
In this case the debtor was ineligible to be a debt under section 109(h)(1) of the bankruptcy code. This did not render her bankruptcy a nullity, however, her failure to act in good faith warranted the annulment of the automatic stat and the...
Read More posted by: on: Apr 30, 2010 @ 10:12
Consumer Bankruptcy Filings on the Rise
Consumer bankruptcy filings approached pre-BAPCPA levels in 2009. According to the Administrative Office of the U.S. Courts, there were 1,412,838 consumer bankruptcy petitions filed last year. That figure marked a 31.5 per cent increase from 2008 when 1,074,108 consumer bankruptcy petitions were f...
Read More posted by: on: Apr 26, 2010 @ 07:27
Strip-off Your Second Mortgage
Falling Home Prices and resulting increase in Chapter 13 Lien Stripping
U.S. homes values have continued to decline in the last two years. As a result, the equity in homes throughout the U.S. (especially Colorado and surrounding states) has continued to decline. Many experts estimate ...
Read More posted by: on: Dec 14, 2009 @ 05:43
Top Ten Reasons Why People File for Bankruptcy
1. End the Legal Obligation to Pay-off most, if not all, of Your Debt.
2. Stop Foreclosure on a Home and Allow You to Catch up on Missed Mortgage Payments by filing a chapter 13.
3. Prevent repossession of a vehicle or other secured property.
4...
Read More posted by: on: Nov 10, 2009 @ 06:44
Credit Card and Open End Protections
The Credit Card Act of 2009 generally goes into effect on February, 22 2010 but two provisions have already gone in effect. One of these provisions requires that each open end credit periodic statement is mailed to the consumer not later than 21 days before the due date. Otherwise, the payment canno...
Read More posted by: on: Oct 06, 2009 @ 09:26
Significant Changes re Mortgage Loans
The Helping Families Save Their Homes Act of 2009 requires that whenever a mortgage loan securing a consumer's principal dwelling is transferred to a third party, the new loan owner must, within 30 days, notify the borrower of certian information in writing including: the name, address, and&nbs...
Read More posted by: on: Oct 06, 2009 @ 09:20
May I keep my home after filing bankruptcy?
May I keep my home after filing bankruptcy?
In most cases, you may keep your house after filing a Chapter 7 bankruptcy if several conditions are met. The equity in your house must be exempt (most debtor’s are allowed up to $60,000- if you are over 61 you may claim up to $90,000).
If there i...
Read More posted by: on: Jul 03, 2009 @ 08:03
Can I buy a new house after bankruptcy?
Can I buy a house after filing bankruptcy?
Several studies reveal that within 18-24 months after a bankruptcy discharge, bankruptcy debtors may qualify for a mortgage loan on the same terms as if they had not filed bankruptcy. Future lenders will be much more interested in the...
Read More posted by: on: Jul 03, 2009 @ 08:00
Foreclosure vs. Short Sale. Why Borrowers should pursue a Short Sale.
Foreclosures vs. Short sales
If your debt problems result in a foreclosure, your credit may suffer for a long time. If the foreclosure happened during the foreclosure crisis, 2007 to present, you might be able to reestablish your credit sooner than would otherwise be possible. The reason is becaus...
Read More posted by: on: Jul 03, 2009 @ 07:58
Can I keep a credit card out of the bankruptcy for later use?
Can I keep a credit card out of the bankruptcy for use later?
If you have a balance on a credit card at the time you file, you must list that debt on your petition. Keep in mind that the schedules are filed under penalty of perjury and lying on your petition can lead to your discharge bei...
Read More posted by: on: Jul 03, 2009 @ 07:12
Creditor Penalized $15,240 for violating Stay
Case Name: Panek, Todd; In re, 19 CBN 486 (Bankr. D. Mass. 2009)
When the debtor filed for chapter 13 bankruptcy relief in 2003, he scheduled an unsecured debt of $6,192 owed to Delta Management. Prior to filing bankruptcy, the debtor authorized Delta Management to make monthly electronic withdraw...
Read More posted by: on: Jun 30, 2009 @ 01:46
Obtaining New Credit After Bankruptcy
Obtaining New Credit After Bankruptcy
Although a bankruptcy filing can remain on your credit report for 10 years, many individuals are able to rebuild their credit to the point that they will not be turned down for a major credit card or car loan after about two years from the date they received th...
Read More posted by: on: Jun 28, 2009 @ 05:04
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