Consumer Alerts

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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Underwater Homes Owners Facing the Fiscal Cliff

12/21/12

An important tax provision that allows underwater homeowners to short sell their home without tax consequences will expire at the end of this month. Earlier this year I wrote about this tax provision. You can review that article here:  http://bit.ly/YuITHG. Briefly stated, any discharge of indebtedness is income that is subject to tax at the [...]

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Our Credit Scoring System Is Biased Against Renters

09/17/12

Credit Score Accuracy: Theory or Reality? In theory, a credit score is an accurate reflection of the collective payment history of a borrower. Missed a credit card bill three years ago? Mr. Mortgage Lender will see it. Credit scores take on an important role in underwriting because lenders rely on past performance as an indicator [...]

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Capital One Leads New CFPB List of Credit Card Complaints

06/29/12

The Consumer Financial Protection Bureau has recently implemented a very user friendly database to show consumers which credit card companies have the most complaints filed against them.  Although the database was just put into place on the web, and is still apparently in beta format, it is interesting to see how many claims have come [...]

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What is a judgment? Can bankruptcy help?

05/05/12

A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call and write, but [...]

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What is a judgment? Can bankruptcy help?

05/05/12

A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call and write, but [...]

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HSBC Reaffirmation Agreements Don’t Quite Add Up: Are the Errors Intentional?

04/11/12

Problems With Reaffirmation Agreements of HSBC Subsidiary A couple months ago, I got a call from a prospective client (who we’ll call Jim). At the time he called, Jim was involved in a pro se adversary case involving a dispute over the terms of a reaffirmation agreement. As I learned more and dug deeper, it [...]

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A Visit From the Sheriff Doesn’t Mean You’re Going to Jail

03/30/12

The Sheriff Came to My Home, Have I Committed a Crime? I received a call yesterday from a client who was concerned about a recent visit from the sheriff. After a Homeowners Association instituted foreclosure proceedings because of delinquent dues, the sheriff came by my client’s home to give notice of the upcoming foreclosure hearing. [...]

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The Complicated California Foreclosure Process Explained

03/28/12

California foreclosure laws are among the nation’s most complex but are also fairly consumer friendly. In this post, we will attempt to provide good answers to the most common questions California residents have about the foreclosure process, both before and after a sale. A Brief Introduction to Mortgages In order to fully grasp the information [...]

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I’m Not Current on May Car Payments, Do I Have Options in Chapter 13?

02/06/12

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your options in Chapter 13 bankruptcy? In Chapter 13, unlike Chapter 7, you [...]

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