Michigan debt collection company AGREES to pay $2.5 million dollar fine. Would you do that if you had done nothing wrong? In virtually the same statement every P.R. person makes for every corporation caught red-handed, Asset Acceptance states: image credit: Dreamstime “In a statement, Asset Acceptance said that the settlement ended an F.T.C. investigation that began nearly…
Author Archives: Kurt O'Keefe
Homeowner Help? Or Government Sellout?
The long awaited on again, off again, multi-state settlement between the Attorneys General of our various states and the mortgage company rapists, uh, crooks, is apparently on again. Unless this is your first trip to this blog, let me end the suspense: the proposed settlement is: image credit: dreamstime Sorry to ruin the ending. What…
Bankruptcy Still Offers Mortgage Debt Relief
I talk to so many people trying to keep their homes, or, even rental properties, who are unaware that bankruptcy law still offers some remedies for Michigan foreclosure issues. image credit: dreamstime Say you bought a house with a friend or relative when you were younger, then moved into a bigger residence when you got…
Oh, Oh, Bankruptcy Danger: Omitted Creditor
Michigan bankruptcy clients forget creditors all the time. Or, don’t even know they owe some body money, especially medical bills, which often show up months later. Some people panic: I already had my bankruptcy hearing, is it too late? How much trouble am I in? Will I have to pay this bill?
The Mystery of Chapter 11
photo credit: dreamstime What the hell is Chapter 11? Just the name gives most people a headache. OK, maybe not as much of a headache as if you work for a company that files Chapter 11 bankruptcy, or, if a company that owes you money files under Chapter 11. Most Chapter 11 bankruptcies are filed…
Mystery: Credit Card Offer After Bankruptcy?
(image credit: dreamstime) You have your bankruptcy discharge, and now, you get an offer in the mail for: another credit card! It feels great! You thought it would take years to “build up” your credit again! You just wiped out thousands of dollars of credit card debt. Why would the bank send you an offer…
How Much Is Your Home Worth?
H is for home value, in the Alphabet Game, bankruptcy experts across the country blog on different topics. I always ask potential clients this question, how much is your home worth?, I mean, really, and the response frequently is something like: well, it is worth $200,000, but right now, I can only get maybe $160,000…
Are You Better Off Than You Were A Year Ago?
Are you better off than you were a year ago? Record numbers of Americans are not. Rasmussen Reports, the top polling agency, says 32% of us owe more than last year. Not coincidentally, confidence in banks is at an all time low. And the government doesn’t poll so well either. With unemployment staying high, home…
C Is For Creditor
Creditors may not all look like this. OK, probably none of them do. But that is what some of them make us think they are, on their way to bashing our heads in if we don’t fork over the loot. Loot that we don’t have. The bankruptcy code defines creditor as: (A) entity that…
Personal Finances Then And Now
Are you better off than you were a year ago? Record numbers of Americans are not. Rasmussen Reports, the top polling agency, says 32% of us owe more than last year. Not coincidentally, confidence in banks is at an all time low. And the government doesn’t poll so well either. With unemployment staying high, home…
