Bankruptcy And Credit Card Debt

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Americans are swamped in $1 trillion of credit card debt– will bankruptcy be the answer? Different Bankruptcy Chapters LIquidation, or straight, bankruptcy is what Chapter 7 is called.  That is to wipe out debts.  You get a discharge, which, inContinue Reading

Consumer Bankruptcy News – Michigan

Bankruptcy blame and fraud dominate this week’s Consumer Bankruptcy lawyer News – Michigan. Bankruptcy Lawyers Get Blamed – By The Judge We get blamed by our clients all the time, but getting blamed by the bankruptcy judge is much worse. More fundamentally, the court is disappointed in Martell’s counsel for attempting to disallow a claimContinue Reading

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