BankruptcyQuestionsNationalBankruptcyForum

Do you have too much debt to handle? Know the signs…

05/15/13

Debt isn’t always bad, but be careful about taking on too much… It gets a bad rap, but debt is not necessarily always a bad thing. In the business world, Fortune 500 companies sell off debt in the form of bonds to raise capital and expand operations. They create jobs in the process. In the [...]

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File Bankruptcy or Settle a Debt? Check your Credit Report.

05/02/13

While there are many and varied reasons that people file a bankruptcy case or settle a debt, certainly an improved credit score is a desired result. Unfortunately, post bankruptcy and post debt settlement credit reporting is often not accurate. A Creditor May Continue to Report a Debt The most common way in which credit reporting [...]

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Foreclosure Settlement Checks are Bouncing

04/19/13

Foreclosure Settlement Checks are Bouncing Some people just can’t catch a break.  Homeowners who received settlement checks from some of the largest banks involved in the illegal foreclosures of 2009 and 2010 reported that they were denied due to “insufficient funds.”  Having the foreclosure settlement checks bounce is just the most recent blow dealt to [...]

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The Benefits of Bankruptcy

04/10/13

Bankruptcy Benefits The term “Bankruptcy” is not a four letter word.  Many people think that bankruptcy will ruin their credit for the rest of their life, and leave them without the option to purchase a new home or car.  Many of the myths that surround bankruptcy simply are not true, and in most cases, there [...]

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Is Now a Good Time to Buy?

03/27/13

Foreclosure Rates are Down and Housing Sales are Up The end of 2012 may have marked the close of our most recent recession.  Recent reports are showing that foreclosure rates were down by 41 percent in Los Angeles County when compared to the previous year.  This decrease in foreclosures, combined with the increase in housing [...]

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Should I Sign a Reaffirmation Agreement?

03/19/13

Your mortgage lender is demanding that you “reaffirm” a mortgage note on your residence in your bankruptcy case. Should you agree to do so? First the basics: There are two parts to your agreement with the mortgage lender regarding your residence. The first part is the note, your promise to repay the amount of money [...]

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Common Bankruptcy Myths

03/16/13

Most people have a negative association with the word bankruptcy.  However, often what you heard is misleading and misinformed statements from people who are not well versed in bankruptcy law. Many very successful people and businesses have filed bankruptcy and have gone on to become very prosperous.  That is why we urge you schedule a [...]

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Ever Wonder Why Credit Card Companies Can Charge Such High Interest Rates?

03/14/13

By Ryan C. Wood The short answer is because corporate profits and corporations in general are favored over protecting the individual from harm these days.  Below is only one court decision in the long dismantlement of individual rights in favor of corporate rights.  Every state, well, every state used to have usury laws.  Have you [...]

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So you stopped that foreclosure by filing a bankruptcy case. Now what?

03/06/13

Filing a bankruptcy case is the first step in stopping a foreclosure on your home and the imposition of the “automatic stay” on collection activity stops the mortgage lender dead in their tracks, but for how long? Not long enough unless you do what the Bankruptcy Code requires. Make your post petition mortgage payments on [...]

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Should You Delay Filing a Bankruptcy Case Until April 1?

02/26/13

Sometimes in a Bankruptcy case, timing is everything There are lots of numbers in the Bankruptcy Code: numbers that limit filing under Chapter 13 consumer reorganizations based on the amount of debt that you owe; numbers that determine the amount of your exemptions; and numbers that determine your eligibility for a Chapter 7 filing based [...]

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