Very Pissed Off Judge Slams Bank of America

In re Sundquist v. Bank of America, Case No. 10-35624 (Bankruptcy court, E.D. CA. 1/18/18) Bank of America, with a gun to the Sundquists’ heads… This motion to dismiss began as a hostage standoff. Bank of America, with a gun to the Sundquists’ heads, said it would pay them several million dollars more than the […]

The Only 3 Times Filing Bankruptcy Is Worth It

By Cathy Moran  (Summary from Ms. Moran’s blog, link below to full blog post)  Ms. Moran is a tireless champion for the education and protection of the consumer. “Facing financial trouble, there are only three times when it makes sense to file bankruptcy.  None of them is labeled “last resort”.  Yet financial-advice gurus keep saying, […]

“Life in the Sweatbox” Before Bankruptcy

Pamela Foohey, Indiana University Maurer School of Law Robert M. Lawless, University of Illinois College of Law Katherine M. Porter,  University of California – Irvine School of Law Deborah Thorne,  University of Idaho Date Written: February 20, 2018  94 Notre Dame Law Review __ (forthcoming 2018) Abstract The time before a person files bankruptcy is sometimes called the […]

UpRight Law, Kevin Chern Sanctioned for Unconscionable Harm to Clients

Sanctioned for causing ‘unconscionable’ harm to their clients Report from the Department of Justice, 2/13/18 – Law Solutions Chicago, doing business as “UpRight Law”,  UpRight’s managing partner Kevin Chern, and affiliated partner attorneys Darren Delafield and John C. Morgan Jr. were sanctioned hundreds thousands of dollars “for causing ‘unconscionable’ harm to their clients”.

IRS Assigns Collection of Back Taxes to Outside Companies

The IRS indicates it will give taxpayers and their representative written notice that the accounts are being transferred to the private collection agencies. The agencies are to send a second, separate letter to the taxpayer and their representative confirming this transfer.

Do Student Loan Debts Die With You?

The following is a summary of USA Today article. It is important that you know the type of student loan (federal or private), the guarantors of the student loan (parents, etc), and the law of the state where you live.  This article cannot walk you through each variation of different student loans, but the goal […]

Wells Fargo Discloses More Fraudulent Accounts

Once again the New York Times reports on Wells Fargo’s fraudulent account scandal.  No, this is not the same one from 2016, this is a new one where the bank just “found” more than a million additional unauthorized accounts, raising the total to 3.5 million accounts. “Every time we get one of these announcements, the […]

Why Chapter 13 Bankruptcy Can Be Doomed for Failure

The American Bankruptcy Institute ‘ABI’ released a report addressing the astronomically high failure rate of chapter 13 bankruptcy.  The findings are not surprising for those of us who work in this world, but are shocking for the rest of the consumer community. It is likely that many bankruptcy judges have never had a successful chapter […]

Reverse Mortgage – good or bad idea?

CFPB REPORT WARNS THAT TAKING OUT A REVERSE MORTGAGE LOAN CAN BE AN EXPENSIVE WAY TO MAXIMIZE SOCIAL SECURITY BENEFITS Reprint from The Consumer Financial Protection Bureau (CFPB) (8/24/2017)  CFPB issued a report warning older consumers about taking out a reverse mortgage loan in order to bridge the gap in income while delaying Social Security […]

Tool to Help Navigate Student Loan Repayment Programs

CFPB – new report “Innovation Highlights: Emerging Student Loan Repayment Assistance Programs” Consumer Financial Protection Bureau “CFPB” released a new data finding that nearly half of student loan borrowers leave school owing at least $20,000 – double the number of borrowers a decade ago. The Bureau also found that more borrowers are taking out student […]