Bankruptcy Reform Act 10 Year Review
Ten years ago this month the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) became effective. The act was designed to make filing bankruptcy more difficult by requiring filers to provide more information to court trustees that supervise the process and by installing a mathematical formula to keep higher income debtors out of chapter 7.
Home Foreclosure: How to determine when your home is being sold.
Surrendering a Home in Bankruptcy: Recent Cases Point Towards a New Option
We call these Zombie homes. This is the home you move out of when you can no longer afford the payment or the home is in terrible disrepair. These homes typically have no equity–they are worth far less than what is owed on the mortgage–and it may not seem possible to sell the home. Real
Zombie Homes Update: Can you force the bank to take back a home?
Medical Bills Incurred During Bankruptcy
Medical debts account for nearly 62% of all bankruptcy cases filed according to a Harvard study. The actual number may be even higher since medical debts turn into credit card debts and mortgage debts as people try to pay off debt collectors. Although some medical debts are incurred when a person is temporarily uninsured,
What is Medical Bankruptcy?
“I want to file medical bankruptcy.” I get that phone call a lot. The situation is that many people are current on their house, car and credit card payments, but they were hit by a wave of medical bills and just want to file bankruptcy on those debts. Can a person just file bankruptcy on
Is there such a thing as getting help to avoid bankruptcy?
A recent client asked this great question:
Is there such a thing as getting help to avoid bankruptcy? My wife and I have a small business. We are struggling to keep it going. We’re down over 50% this year, we’ve cut some expenses, and customer payments are dragging. While we are not unique, and I
National Collegiate Student Loan Trust Lawsuits: Basic Defenses
Private Student Loans are the single worst debt in existence. They lack any formal Income Based Repayment (“IBR”) plans and the debts are generally not discharged in bankruptcy without undergoing expensive litigation and claiming a special hardship. In recent years, the National Collegiate Student Loan Trust, the largest holder of private student loans, has filed
10 Things You Need to Know About Paying a Mortgage During Bankruptcy
Can I keep my home if I file bankruptcy? Do I have to list the mortgage company? What if I’m behind on the payment? Can I still pay the mortgage payment online? Will they send me monthly statements? How do I know that the past due amounts were paid current? I want to file bankruptcy