After you file Chapter 7 bankruptcy, you may be asked to reaffirm your mortgage. Asked by who? Why, the mortgage company, of course. Here in Michigan, most homes with mortgages are underwater, worth less than what is owed on them. So, you file Chapter 7 bankruptcy, your house is worth $100,000, and you owe $#120,000…
Category Archives: Chapter 7 bankruptcy
Bankruptcy, Or Debt Settlement Scam?
“Don’t ruin your credit by filing bankruptcy!” say those who run a debt settlement scam. “The secret the credit card companies don’t want you to know!” “Don’t file chapter 7 bankruptcy!” “If you owe at least $10,000 in credit card debt, you are eligible for our program!” “Recent changes in federal law require credit card…
