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Tag : bankruptcy

NJ Housewives Celebrity Bankruptcy is Worthy of its Own Reality Show

Bankruptcy Law Overview, Chapter 13, Chapter 7

Here’s a tip; if you’re going to live extravagantly, don’t make that lifestyle the focus of a reality show. Teresa Guidice starred in the reality show, Real Housewives of New Jersey, with her husband Giuseppe.  Mrs. Guidice was often featured on the Bravo show going on outlandish spending sprees to furnish their newly constructed and […]

Are You Being Overcharged On Your Mortgage?

Bankruptcy Law Overview, Chapter 13, Foreclosure, Modifications

Recently, Katie Porter, over at Credit Slips, reported that Bank of America (BOA) reached a settlement with the Federal Trade Commission regarding certain mortgage overcharges, including overcharges in bankruptcy once serviced by Countrywide. Henry Sommer joined the conversation, asking if the Bank of America Settlement is a sign of true progress. After reading the consent judgment […]

Bankruptcy Filings Soar in 2010

Bankruptcy Law Overview

As debtor’s counsel, I get the sense that many Americans who need to file for bankruptcy are avoiding it still because of its stigma and the myths fed to them by their government, creditors, family and friends.  In spite of the ‘file bankruptcy as a last resort’ method to financial reform for American households, filings […]

California Bankruptcy Exemptions

Bankruptcy Law Overview, Chapter 7, Exemptions

Whether you’re filing bankruptcy under Chapter 7 or 13 in California, you will get to keep most of your belongings and your home.  That is, if you have a home worth keeping.  Under the law, the keeping of assets is known as ‘exemptions;’ meaning the assets are exempt from being taken to pay your debts.  These exemptions can be found in the […]

How To Use Credit Wisely After Bankruptcy

Bankruptcy Law Overview, Chapter 13, Chapter 7, Medical Debt & Bankruptcy, Small Business Bankruptcy

I always tell my clients that your credit score only tells you one thing; how well you manage DEBT.  So, why would you want to go back into debt again after bankruptcy?  After all, don’t you just want to enjoy the feeling of financial freedom from debt for as long as possible?  My first inclination […]

How Do I Know Whether to File Chapter 13 or 7?

Bankruptcy Law Overview, Chapter 13, Chapter 7, Foreclosure, Modifications

As a consumer debtor, you will usually have two options when deciding to file bankruptcy; Chapter 13 or 7 under the Bankruptcy Code.  The question is which is better?; and which one should you file?  The answers to these questions are as unique as your individual circumstances. Under Chapter 7 of the Bankruptcy Code, you are […]

Compassionate Bankruptcy

Bankruptcy Law Overview

I believe that filing bankruptcy is a compassionate act.  I alleviate the suffering of my clients by assisting them to obtain relief from their debts through bankruptcy.  My clients are good people with severe financial hardship, who seek to transform their financial distress into financial freedom. In case you haven’t heard, bankruptcy has a history […]

Adversary Proceedings in Bankruptcy

Bankruptcy Law Overview, Chapter 13, Foreclosure

Adversary Proceedings: what are they?  The simple answer to this question is that an adversary proceeding is a civil action in the Federal Bankruptcy Court; it’s a lawsuit.  All adversary proceedings are governed by the Federal Rules of Bankruptcy Procedure “F.R.B.P.” Part VII.  F.R.B.P. Rule 7001 provides that a party can file an adversary proceeding to recover money or property; […]

Bankruptcy is Financial Responsibility

Bankruptcy Law Overview, Chapter 13, Chapter 7, Foreclosure, Modifications

Let’s face it; the economic recession is dragging on and there are no signs of improvement.  The government spending is the only spending that is propping up our economy.  So, when you hear in the news that spending is up, it’s your federal government doing the spending with bailout money, and building projects for green […]

Two Great Reasons to Avoid Debt Settlement Companies

Automatic Stay, Bankruptcy Law Overview

I’ve had several clients come to me after working with debt settlement companies that have provided no service at all, except to take my client’s money.  These debt settlement contracts usually provide that the debt settlement company will set up a trust account with your name on it and take their fees and payments first.  […]