After bankruptcy

Paying Your Mortgage with Money Order is a Bad Idea


Paying Your Mortgage with Money Orders is a Bad Idea Handing somebody a money order to buy a car or something–that’s sometimes safer than cash.  But mailing a money order to pay your mortgage–that’s almost always a bad idea. Let me tell you about Norman.  Norman filed Chapter 13 bankruptcy with different lawyer.  He later […]


After Bankruptcy: Please Don’t Go Out and Co-Sign for a Car


After Bankruptcy: Please Don’t Go Right Out and Don’t Co-Sign for a Car Got an email last week that made me sad.  Cherry filed Chapter 7 bankruptcy back in 2017.  She recently went to buy a car and ended up getting financed by Santander at 21%. After she did that, she asked why is her […]


Supreme Court Says Being Listed as a Terrorist is ‘No harm.’


Supreme Court Says Being Listed as a Terrorist is ‘No harm.’ Last Friday, in a case called TransUnion v Ramirez, the Supreme Court said the Fair Credit Reporting Act cannot give you the right to sue TransUnion for putting your name on their OFAC terrorist warning list. Led by Justice Brent Kavanaugh, a 5 to […]


Does Reaffirming Your Car Loan Help Your Credit Score?


“Does Reaffirming My Car Loan Help My Credit Score?” Ray and Theresa, who filed bankruptcy with me last fall, asked me that last week. Lots of people ask that same question after they look at their after-bankruptcy credit report and see that their car payments don’t show.  Then, they are told by their car finance […]


IRS Means Never Having to Say….


IRS Means Never Having to Say….Anything The IRS is not like most creditors. (Your probably knew that.)  The IRS in bankruptcy is not like most creditors in bankruptcy, either. Knowing what debts have been cleared (discharged) by your bankruptcy is easy for most debts. For credit cards, loans (including payday loans, who want you to […]


After bankruptcy….the car still has to pay!


…But the Car Still Has to Pay. When you file Chapter 7 bankruptcy, that means you don’t have to make the car payments. But that does not mean you get a free car. You don’t have to make the car payments, but the car still has to pay. That’s because the car finance company is […]


After Bankruptcy, OneMain Offers Car Reaffirmation Negotiation


In the last few months, OneMain has been contacting me about reaffirmation negotiation on car loans. That took me by surprise. With the exception of Ford Credit, I’ve been strongly opposed to reaffirming cars.  Usually you can keep the car without reaffirming. and then give it back when your credit improves. I explain more about […]


Right After Bankruptcy, Carla Signed on a Car Loan


Right After Bankruptcy, Carla Signed on a Car Loan and She’s Probably Gonna Lose Her House I tell people please please please, do not get a car loan until at least two years after your Chapter 7 bankruptcy.   Two years after bankruptcy, I’m seeing people get car loans in the 6%-8% range. Three years […]


How Soon After Bankruptcy Can I Get a Mortgage?


Good News:  Fannie Mae Announces New Shorter Waiting Period for After Bankruptcy Mortgage. Here’s the most important question for people who file bankruptcy because they can’t make their house payments:  How soon can I buy a house again? Since the housing crisis, there have been two waiting periods:  Two years after the bankruptcy; but three […]


After Bankruptcy: Bank of America Can’t Stop Themselves


This is a story about how Bank of America violated the bankruptcy discharge, hacking off Gus and Nikoleta, and me.  (I’ve changed the names of Gus and Nikoleta–all the rest of this is true.)  And then hit Gus and Nikki for a “foreclosure fee” while they were current.  And then did it again.

Gus and Nikoleta came to see me in 2009.