Author Archives: Kurt O'Keefe

Consumer Bankruptcy News

Consumer bankruptcy filings are sure to go up. Mortgage debt is one reason.  The government just keeps pushing out mortgages to people who cannot otherwise get them.  Those with lower credit scores and income. Which people, of course, default more often. People who cannot pay their debts are the ones who file bankruptcy. Mortgage DebtContinue Reading

What Is The Automatic Stay?

Automatic Stay Stop Debt Collection

The automatic stay is imposed, well, automatically, upon the filing of any bankruptcy petition. It is a big red STOP! sign to ALL creditors that debt collection actions, garnishments, foreclosures, repossessions, letters, phone calls, anything, must stop. Most courts can issue a stay, an order freezing things where they are, after a lawsuit is filed, andContinue Reading

Zombie Debt Abuse Continues

Zombie debt is debt that never dies. It keeps getting sold and re-sold. How does Zombie Debt affect you? Most consumer debt that is in default is now sold to bottom feeding third party zombie debt buyers. I had a case where my client sued a debt collector for illegal harassment. That defendant said, hey,Continue Reading

More “Debt Relief” Lawyers Shut Down

The Consumer Protection Finance Bureau (CPFB) nailed some debt relief lawyers for FRAUD in tricking consumers into parting with their money for “debt relief.” Which turned out to relieve them only of their money and enrich the debt relief lawyers in the firm. What Is Debt Relief? Debt relief lawyers, and other scammers, use scareContinue Reading

Zombie Debt, FDCPA, and Bankruptcy

Zombie debt is debt that never dies. What keeps zombie debt alive? The multi-billion dollar debt buying industry. We live in an age of core competence and outsourcing. So, VISA and Mastercard and other big creditors make minimal efforts to collect overdue accounts, and then, sell them. For pennies on the dollar, of course. WhyContinue Reading