2015 Foreclosure Trends in Georgia
In the wake of additional financial regulation and agency enforcement of settlement agreements, mortgage companies have to be very careful to make sure that there documents are in order before commencing a foreclosure proceeding. This is especially true if the loan has been assigned or transferred to another mortgage company or servicer. Sometimes a loan […]
Update on Debt Collection Scams
Previous articles here on the bankruptcy blog have discussed consumers’ rights under the Fair Debt Collection Practices Act (“FDCPA”) and the Do’s and Don’ts of Dealing with Collection Agencies. However, here in Augusta GA, we’ve noticed that some collection agencies have become more aggressive in how they collect debts. Additionally, there are other scammers who […]
The Perils of Filing a Pro Se Bankruptcy Petition – Part 1
The Bankruptcy Code does not require that a debtor must hire an attorney to file the bankruptcy petition and represent them in court. I have noticed lately in Augusta that the number of “pro se” debtors has increased.[i] Some of these petitions were prepared by the debtors themselves, while others were prepared by an online […]
Rebuilding Your Credit After Bankruptcy
A common question that we receive from clients at Leiden & Leiden in Augusta, GA, is what will be the best way for a consumer to rebuild their credit after a bankruptcy filing. Obviously the bankruptcy will affect the credit score, but its overall effect may be minimal, as most of the damage to the […]
Filing a Joint Bankruptcy Prior to Divorce: Why it Makes Sense for Many Couples
Financial problems and marital strife often go hand-in-hand, so it is no surprise that many divorces may be a result of financial distress. However, the financial distress may linger long after the divorce, and prevent closure for the former married couple as they independently struggle on reduced income and increased expenses. While it may seem […]
Prioritizing Debt Repayment With Your Income Tax Refund
February and March are the months when most working Americans will receive their income tax refunds. And while many consumers will have the advantage of being able to save their refund money, or spend it on a minor luxury such as a vacation or television, some will use that money to catch up on bills […]
Will Incorporation Protect Me from the Collection of Corporate Debts?
Incorporation has become a common theme for small business owners, and it certainly offers some protections to those who are self-employed. But the marketing of corporations and LLC’s (limited liability companies) may overstate the protections of incorporating, especially when it comes to protection from debt. When a business is incorporated, a separate legal entity is […]
What to Know When Negotiating a Settlement with a Creditor
There may be certain circumstances when a consumer does not need a bankruptcy filing, especially if they are only concerned about a few specific debts. Given that is tax refund time, many consumers may have suddenly cash available to satisfy old debts that have gone to collection. In the alternative, an individual may seek assistance […]
THE CONSUMER FINANCIAL PROTECTION BUREAU: THE CONSUMERS ALLY IN ENFORCING THEIR CONSUMER RIGHTS
The Consumer Financial Bureau (“CFPB”) arose in the aftermath of the 2008 economic crisis (the “Great Recession”), as a response to what was perceived to be over-reaching by the consumer finance industry. While various legal protections existed prior to the creation of the CFPB, such as CARD (Credit Card Accountability, Responsibility and Disclosure Act), RESPA […]
AUTOMOBILE TITLE PAWNS AND BANKRUPTCY
Title pawns have become an ever-growing percentage of consumer debt, as they are marketed as a short-term “quick fix” to a budget deficit. Presumably, these loans will allow the consumer to bridge the gap until payday, at which time the loan will be paid off and title returned. Unfortunately, this is rarely the case, and […]