Category Archives: Bankruptcy

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

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

More Debt, More Debtor Harassment

More consumer debt always leads to more bankruptcy filings. Does more debt lead to more debtor harassment? The November data are in, and, yes, consumer debt, that month of big Christmas shopping, went way up. Having read the latest Consumer Protection Financial Bureau consent judgment against a debt collection law firm, I wonder if there isContinue Reading

Bankruptcy and Interest Rate Increase

The Fed increased interest rates 25 basis points,   that is, .25%, and, the banks followed along. Lots of consumer credit is tied to “prime” rates set by banks. Which uniformly go up when the Fed raises its rate, which is why the Fed raises that rate. How Much Consumer Credit Is Tied To PrimeContinue Reading