Debt Worries

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Suicide is a permanent solution to a temporary problem. Horrible story today about a New York couple who dove to their deaths from their office. Over debt problems. A broke Manhattan chiropractor and his wife jumped to their deaths fromContinue Reading

Consumer Bankruptcy Update

Different consumer bankruptcy things happening. Good Consumer News The FTC caught another bad guy. This time, the Federal Trade Commission shut down an operation that collected more than $690,000 in fake debts by threatening consumers with lawsuits or arrests.  They are not the only ones using this scam. When an individual called the provided number,Continue Reading

Car Debt And Bankruptcy

Car Bankruptcy

Most people who file any Chapter of bankruptcy   have a car, or some other vehicle. Or more than one. Which, more often than not, have a lien on them, meaning that my client still owes money on the car. Auto lending was one of the few types of credit that did not dry upContinue Reading

Debt Crisis Coming?

The economy has been OK to good for a while.  A long while. How much longer will the upturn last? Julia La Roche at Yahoo Finance has a story on a guy who is not comfortable with the rosy credit scenario continuing indefinitely. “It’s been a terrific market for investors for quite a long timeContinue Reading

Bankruptcy And Mortgages

Bankruptcy and mortgages covers a lot of ground, this may be a two-parter. Chapter 7 Bankruptcy and Mortgages Mortgage just means debt secured by real estate.  Home equity loan is just a marketing term, if you pledged your house as collateral, it is just another mortgage. As I am licenses in Michigan, Michigan is theContinue Reading

How Much Debt Is Too Much Debt?

How much debt is too much debt?

Someone called me today, his wife laid off a couple months ago, and she cannot pay her credit cards on unemployment. More Debt Than You Can Pay Is Too Much Well, yes.  But that is a little late to find out.  Bankruptcy should be a last resort. Most growing economies have citizens who save aContinue Reading

Bankruptcy And Credit Card Debt

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, in effect, takes your name off the note or contract. Americans now owe $1 trillion 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