Protecting Your Property

Why does your attorney need a copy of your filed Mortgage or Deed of Trust ?

05/25/12

A recent case in Illinois shows us the importance of providing to your attorney a filed copy of your mortgage or deed of trust that is a lien on your real estate, land or home.  Occasionally, clients will have problems in gathering these documents from the county clerk, the office in Kentucky that files mortgages.  [...]

[more]

Wage Garnishment Must Stop After a Bankruptcy Case is Filed; You Might Even be Able to Get Money Back

05/02/12

Bankruptcy Stops Wage Garnishment The minute a bankruptcy cases filed,an injunction called the automatic stay is issued, which prohibits creditors from trying to collect on debts that were included in the bankruptcy. The Ninth Circuit Court of Appeals has called the automatic stay “one of the most important protections in bankruptcy law.” The automatic stay is [...]

[more]

What Will Happen to My Retirement in Bankruptcy?

04/07/12

Retirement Accounts and Bankruptcy One of the biggest myths about bankruptcy is the idea that you will lose your retirement savings if you file. Generally speaking, this is not true. Section 522 of the Bankruptcy Code allows individual retirement accounts (IRAs) up to $1,000,000 to be exempted in bankruptcy. This means that you can file [...]

[more]

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. [...]

[more]

Am I Protected by the Arizona Anti-Deficiency Statute?

03/28/12

Am I Protected by Arizona’s Anti-Deficiency Law After Foreclosure? When most families purchase a home, they don’t envision ending up facing a foreclosure sale, but in states like Arizona where the housing market has been particularly hard hit, foreclosure is an all too common event. In cases where a home has plummeted in value, borrowers [...]

[more]

How to Pay Down Credit Card Debt and Avoid Bankruptcy

02/29/12

Follow These Steps to Pay Down Your Credit Card Debt Perhaps like many Americans your New Year’s resolution involves paying down credit card debt. After all, even the most ardent supporter of the plastic hears that little voice in the back of their head “credit card interest rates are a huge ripoff, I shouldn’t use [...]

[more]

Bankruptcy When You Are Judgment-Proof

02/17/12

A person is judgment proof when under the laws of their state, a judgment creditor (lawsuit plaintiff) has no practical ability to force payment of the judgment. In North Carolina, which does not have generally available wage garnishment statutes, a judgment debtor is effectively judgment proof if all of his or her property can be [...]

[more]

The Benefits of Using a Bankruptcy Attorney

02/08/12

Even though you may be somewhat familiar with the term bankruptcy, the actual filing of this procedure is governed by federal laws, as well as some state regulations. Therefore, in most cases, it is advised that you use an attorney if you are considering this process. By using an attorney, you will have access to [...]

[more]

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 [...]

[more]

Are the Penalties for Violating the Automatic Stay Too Lenient?

01/30/12

The automatic stay protects consumers who file for bankruptcy One of the greatest advantages available to the debtor who is willing to consider bankruptcy as an option is the automatic stay.  The automatic stay orders creditors to refrain from collection practices immediately once a debtor has filed for bankruptcy.  But we all know that rules [...]

[more]