Banks and mortgage companies have not cooperated very often in out-of-court mortgage modifications. However, a Chapter 13 bankruptcy filing can give a homeowner a powerful tool in reducing their house payments. The best part is that the terms of the reduction are delivered to the mortgage lender, and a homeowner does not need permission or…
This is a great article about how to rebuild your credit after late payments, bankruptcy, short sales, foreclosures, or other marks on your credit report.How to get good credit using a bad credit secured card
Using a Chapter 13 bankruptcy filing specifically to stop foreclosure is a common strategy in today’s economic climate. An automatic stay is entered as soon as a Chapter 13 bankruptcy petition is filed which temporarily halts the foreclosure process regardless of how far someone is behind on payments. The automatic stay’s purpose is to give…
I talk to people all the time who do not want to talk about bankruptcy until absolutely necessary. While this feeling is understandable, getting good advice early can protect assets and help achieve a much better outcome whether bankruptcy is right for you or not. Remember, you don’t have to file a case in order…
Many potential clients know they need to do SOMETHING about their finances, but think of the bankruptcy process as being overly time consuming and burdensome. There are a few simple steps which can deliver a discharge of your debts. 1. Schedule an initial consultation with an experienced bankruptcy attorney. It helps if you bring a…
Another common mistake, particularly this time of year, is for someone to file a bankruptcy without accounting for any tax refund they are due. The bankruptcy court views refunds as part of a filer’s assets. There are two ways to protect any refund you are due. First, you can use any available exemptions to protect…
North Carolina has exemptions in place to protect your assets making it unwise to transfer property to others before a bankruptcy filing. If you transfer those assets out of your name, the exemptions cannot be used without getting the property titled correctly again. It is not a good idea to transfer assets to family members…
One of the reasons I chose to practice this area of law is because I can help people who really need it. My clients are generally disappointed to have debt problems, and expect to be tarred and feathered for not being able to climb out of the hole they find themselves in. The truth is…
http://getoutofdebt.org/7233/the-truth-about-the-failure-rates-and-completion-rates-of-credit-counseling-debt-settlement-and-bankruptcy
Skippy and Nacho were looking at a new living room suite in the furniture store. Nacho says to the salesman, “We really like it, but I don’t think we can afford it.” The salesman says, “You just make a small down payment… then you don’t make another payment for six months.” Skippy wheels around, hands…