It can happen to the best of us-we lose a job, fall on hard times and our bills go unpaid. But many of us opt to simply ignore our debts instead of coming up with a plan to either repay them or make them go away legally. Many of us mistakenly believe that debts will [...]
In the bankruptcy case of Wingerter, Gerald and Janet G.; In re (B-Line LLC v. Wingerter), the 6th Circuit Court ruled that Rule 9011 does not impose a continuing obligation on a creditor to obtain more information or revaluate its position as the case develops and that the bankruptcy court erred when it sanctioned the [...]
In the Chapter 7 bankruptcy case of McClure, Danny J. and Kimberly D.; In re (McClure v. Bank of America, et al.), the bankruptcy court found that the creditor Bank of America (BoA) and the collection agency willfully violated the discharge injunction and awarded the debtors $2,500 in compensatory damages and $79,839 in attorney's fees. [...]
Keeping Your Personal Business Private From Bill Collectors Debt collectors have gone to a new low. They are no longer simply satisfied with calling debtors at all times of the day or night and sending threatening letters, they are now trolling the internet so they can find out debtor's personal information. Many debt collectors are [...]
Many debtors are intimidated by debt collectors who often cast themselves as these all powerful entities who can wreck havoc on a debtor's life. But the truth of the matter is that debt collectors aren't as powerful as they seem, it's just that many debtors' lack of knowledge about their rights and the limitations of [...]
Tip #1 - Make sure your business and personal finances are separate before you file bankruptcy. Take an effort to keep track of your business expenses and income while simultaneously keeping your private finances in order before you bankruptcy filing. Tip #2 - Work with an accountant if necessary to calculate what your monthly income [...]
In the bankruptcy case of Mammola, Robert J.; In re, 20 the bankruptcy debtor failed to list a creditor who later filed a lawsuit against the debtor. After attempting to reopen the bankruptcy case so that the omitted creditor could be included in the discharge, the bankruptcy court denied the debtor's request. The details of [...]
Reverse mortgages have become a very popular method for seniors to get cash out of their home during this recession. But what do senior citizens need to know about reverse mortgages before they commit? While reverse mortgages are a "no recourse" loan, the heirs of the debtor may still lose the property (to foreclosure) if [...]
When debtors take out a car title loan it's usually because they feel that they have run out of options. A car title loan allows them fast access to money for 30 days; but unfortunately at a high price. Car title loans have interest rates that can climb as high as 25 percent per month. [...]
The Federal Trade Commission (FTC) successfully sued three debt collection companies who scammed consumers into paying money they did not really owe. A total of $1.6 million was recovered from the debt collection scammers and will be distributed to 24,916 consumers. In 2003, the FTC sued three companies, operating under the name National Check Control, [...]
