POTENTIAL BANKRUPTCY CLIENT PRIVACY PROTECTION
Most bankruptcy attorneys offer a free consultation, and during that consultation they will have the opportunity to review financial documents of the potential client. This usually will include tax returns, pay stubs, bills and bank statements. More complex cases may also require additional information like court judgments, divorce decrees, insurance policies and appraisals. Because the […]
Personal Internet Loans: Convenience vs. Consequences
Internet lending is very commonplace nowadays, as many mortgage and auto lenders may rely substantially on information submitted via the internet to process loan applications. This reduces the amount of face-to-face time which may be necessary to close the loan, ideally reducing the expenses for all involved. But while many lenders use the internet to […]
Loan Modifications and Short Sales: The Hidden Costs
Bankruptcy is often used as a method of foreclosure prevention, especially in Georgia where the foreclosure process is expedited compared to other states. However, over the last few years, more lenders have been willing to negotiate the terms of mortgage loans through loan modifications, in order to make it more affordable for the homeowners. In […]
Automobile Repossession: What You Need To Know
The threat of a vehicle repossession is a common motivator for a consumer to seek bankruptcy relief, as a Chapter 13 bankruptcy will prevent the repossession and allow the consumer to repay the vehicle loan over time through a court-supervised payment plan. The Chapter 13 bankruptcy may also allow for the debt on the vehicle […]
Who Can Seize Your Income Tax Refund?
This is a frequent question at this time of the year, when financially distressed taxpayers are confronted with a variety of collection efforts. While many creditors will threaten “seizure” of an income tax refund, there are usually only a privileged few that are permitted to “seize” or “intercept” an income tax refund. First, keep in […]
Common Mistakes Which May Prevent Effective Bankruptcy Relief
There is no question that a bankruptcy filing – either under Chapter 7 or Chapter 13 – can provide relief from creditor harassment. Bankruptcy can prevent garnishments , foreclosures, repossessions and collection calls. However, some individuals may find that their bankruptcy options are limited, or even unavailable, due to mistakes or omissions that have occurred […]
The Consumer Finance Stress Test: Factors that the Experts Believe Add to Your Financial Vulnerability
Other blogs on this site have addressed some of the “warning signs” that a consumer or small business bankruptcy may be on the horizon. But various studies have been commissioned to look beyond those warning signs, and see if there are any personal or community characteristics which may influence individuals long before the warning signs […]
Holiday Debt Management
As the end of 2013 approaches, with the holiday season is in full swing, it is important to manage your finances to avoid the January “debt blues”. While sharing the joy of the season is admirable, you will not be sharing the debt burden, so economizing and budgeting are important. A few things to consider: […]
DEBT ISSUES TO AVOID FOR FURLOUGHED AND “SHUT DOWN” EMPLOYEES
As many federal, state and local employees struggled with reduced or suspended wages, this blog will revisit previous suggestions for individuals who have been terminated or downsized. Any type of interruption of income is going to cause a problem with the household finances. The important thing is to take steps to minimize the impact by […]
Mortgage Loan Modification Update
Previous blogs have discussed the mortgage modification options that are available to distressed homeowners, and the steps necessary to successfully accomplish a mortgage loan modification. Unfortunately, there appeared to be little incentive for the mortgage companies to allow for permanent loan modifications. Lawsuits have been filed against Bank of America and Wells Fargo related to […]