Filing Chapter 13 bankruptcy stops the foreclosure. You’ve protected your home, for the moment. Bankruptcy gets you a sheltered legal environment to address the problems with your mortgage. You heave a sigh of relief. But the fight to keep your house isn’t over, just because there’s a stay. You’ve just gotten through the first round. […]
Debt Limits Increase For Chapter 13 Bankruptcy
Debt limits to swell to $2.75M under new legislation New debt limits for Chapter 13 became effective on April Fool’s Day, 2022. (these limits will be superseded by newly enacted limits upon the president’s signature, expected daily.) The new numbers are effective for cases filed after April 1, 2022 and will control for the next 3 […]
Find The Right Cure for Your Debt Problems
Get-out-of-debt advice and sales pitches abound. Like this one. But too few get-out-of-debt gurus tell you that you need a diagnosis of your financial ills before prescribing the cure. Is the stomach ache indigestion or appendicitis? Is it temporary upset or life threatening? The answer makes a big difference in how you treat it. No […]
When Can I File Bankruptcy Again
Remember the old high school cheer: two, four, six, eight, who do we appreciate? Turns out, that’s not just a cheer, it’s shorthand for the rule on when you can file bankruptcy again. And it points out that when you can file again depends on what kind of bankruptcy you filed last time. Here’s how […]
Has Your Social Security Number Been Suspended?
The latest variety of tax scam picked the wrong target when they called my fellow bankruptcy lawyer Wayne Silver. Your social security number has been suspended, claimed the caller. Having no identity is scary. What’s a guy to do without a Social Security number? It’s sad that we are reduced to needing a number to validate […]
DIK Remedies For Foreclosure Breed Bankruptcy Tragedies
Warning: virulent outbreak of do-it-yourself bankruptcies all around. Symptoms: panic over prospect of foreclosure Supposed remedy: file your own skeleton Chapter 13 bankruptcy Prognosis: enjoy the stay for about 2 weeks, followed by foreclosure relapse Homeowners facing foreclosure Three different would-be clients called in a 10 day period this month, facing foreclosure. And all three […]
Don’t Trust Anything Your Lender Says On The Phone
Don’t trust the loan servicer for a moment, was my advice to the client who was trying to track payments he’d made on his home mortgage . The mortgage industry has created an inhabited accounting swamp around your home; the lender’s representative lives in that swamp. Don’t turn your back on a carnivorous predator. I’m […]
Bouncing Back From Bankruptcy: The To-Do List
Recovering from bankruptcy isn’t hard. You’ve hurdled the debt chasm and finished your bankruptcy case. There’s a fresh start ahead. But where do you start on that fresh start? Consider this to-do list for bouncing back from bankruptcy. Keep on keeping on Whether your bankruptcy case was a Chapter 7, over and done in months, or […]
What’s Wrong With Most Get-Out-Of-Debt Advice
Get-out-of-debt gurus too often miss the essential truth known to every carpenter. Measure twice, cut once Too many trite lists of tips to help you get out of debt miss the vital first step. How you got into debt Before you choose a get-out-of-debt path, assess your situation. Until you know how you got into […]
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