Medical debt – number one cause for seniors filing bankruptcy According to an article in Forbes, the 65+ demographic now makes up a higher percentage of bankruptcy filers than it did a decade ago. Filing for bankruptcy is seen by many seniors as a social stigma. Some live in a nightmare where they are forced […]
Short videos describing specific bankruptcy topics.
October 19, 2017 – Article posted in Bloomberg.com. Bank of America tries to bully a bankruptcy judge, ignoring the consequences of illegal acts, but the judge is not standing for it. Bank of America seems to think they can bully a bankruptcy judge, like they did a California couple in a nightmare foreclosure, but the […]
Debt settlement a bad alternative to bankruptcy By Liz Weston NerdWallet.com, Aug 30, 2017 (a summary from South Bend Tribune) Many people believe that hiring a company to settle their debts is better on their credit, will cost them less in the long run and will generally be better than a bankruptcy. This is what […]
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 […]
When Mortgage Lenders Monkey With Your Loan By Bill Purdy The following are some excerpts from a very informative blog on a well-known consumer bankruptcy advocate’s web site: www.BankruptcySoapBox.com. Spoiler Alert: As a borrower, you are an expendable resource in home loan servicing to be exploited for fees and charges. Borrowers just trying to keep […]
Contempt bankruptcy court order ends in prison time: In re Kenny G. Enterprises 16-55007 (9th Cir 7/26/2017) Kenneth Gharib refused to comply with a bankruptcy court order to turn over $1,420,000 belonging to a chapter 7 estate. The judge imposed sanctions for the contempt: civil contempt sanctions of $1,420,000, $1,000 a day until he complied, […]
New policy governing credit reporting criteria. Photo by CafeCredit under CC 2.0 Starting July 1, 2017, the three nationwide consumer reporting agencies, Equifax, Experian and TransUnion, are starting a new policy that will raise about 12 million consumers’ credit scores as much as 10 points. This could mean the difference in qualifying for a better […]
How to Rebuild Your Credit Are you overwhelmed by financial challenges? Do you want to rebuild your credit? Many people try to solve their problems in the privacy of their homes, rather than asking for guidance. Fortunately, the Internet allows them to research answers to their financial questions, without exposing their situation to neighbors, co-workers […]
April, 2017 – according an article in the New York Times, Congress instructed the Internal Revenue Service is going to use private debt-collection companies to collect overdue payments from taxpayers, despite this idea being a complete failure in 1996 and again in 2006. This new provision was buried in a $305 billion highway funding bill […]
The following applies to Arizona lawsuits and collection rights. When a creditor sues and obtains a judgment there are several options available in order to collect on the judgment. The one that is the most scary for the consumer is the “judgment debtor’s examination”.