Many folks rely on their credit reports when filing Chapter 7 bankruptcy, so they don’t miss listing a creditor. Because, all bankruptcy chapters include ALL debts. And, being under oath in a federal court, which all bankruptcy courts are, good idea to tell the whole truth. Why would you want to leave off a debt…
Tag Archive: finance
The Modern Rules Of Family Finance
How to avoid filing bankruptcy? We should revert to the old rules of family finance, even guru Suzie Orman agrees. Remember, those Depression era folks? Some are still around, like my in-laws. They considered it damn near a sin to borrow money. Pay interest? No way. Never had a credit card or a car…
Hope And Change Two??
(I am an Amazon affiliate, so click on the link if you want to buy the album or book) Foreclosure crisis continues, the election produces: another Republican House, another Democrat Senate, and the same president. Meet the new boss. Same as the old boss. I have been railing against the mortgage villains, industry, organized…
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…
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?
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…
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…
Credit Cards Are NOT The Problem
Credit cards are neither good nor bad; they have no intrinsic moral quality. Just like a baseball bat; depends how you use it. Hit a home run? Cool. Break someone’s head? Not so much. Yes, that one is subjective. It is possible to use credit cards without going overboard, pay the balance every month, get…
The Truth About Student Loans
American youth has been sold a bill of goods, get that college education, you will make more money, it will pay off in the long term, buy now, pay later, get student loans! Lenders even market to unemployed people, borrow our student loan, get that degree that leads to employment! Yet, more college graduates are…
