Ten Mistakes Financially Stable Consumers Make Which Can Lead to Bankruptcy
The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the most well-intentioned consumers who have built up their credit and amassed a tidy savings can still wind up […]
Why Your Credit History is Important to Potential Employers
As hiring has evolved, potential employers are reviewing much more information in deciding whether or not to hire prospective employees. Potential employers are no longer content to review a resume, and contact references. They will also review social media history, social/club affiliations, and credit history. Why is credit history important to a prospective employer? There […]
The HAVEN Act and its Implication in Bankruptcy
On August 23, 2019, president Trump signed the “Honoring American Veterans in Extreme Need” act of 2019. The passage of this act fixed a loophole in the 2005 Bankruptcy Code which shielded Social Security income and other income received under the Social Security Act from creditors in bankruptcy proceedings. Under the 2005 Bankruptcy Reform, disability […]
BANKRUPTCY BY THE NUMBERS: FILINGS BY ZIP CODE
The fundamental causes of financial distress are virtually immune to a person’s place and life. Divorce, health issues, and unemployment can affect anybody at any time. No wage or income class is exempt from these problems, regardless of how well prepared those individuals may be. With this in mind, our firm has analyzed certain trends […]
ELDER ABUSE AND INTIMIDATION IS ON THE RISE, AND CAN LEAD TO BANKRUPTCY
Our firm has been meeting with more and more elderly or retired individuals who are experiencing financial difficulty due to the actions of family, friends, or hired caregivers. Many individuals who are retired, disabled, or on a source of fixed income rely upon others to assist with matters such as healthcare, errands, and home maintenance. […]
FINANCIAL TRENDS TO BE WORRIED ABOUT IN 2019
While the economy appears to be in good shape, our firm has noticed some disturbing financial trends that are similar in nature to those trends that led to the last recession. While mortgage lending is much more conservative than it was in the early 2000’s, other areas of credit use are exhibiting similar patterns to […]
2018 YEAR END BANKRUPTCY ANALYSIS
As 2018 draws to a close, and 2019 begins in the midst of economic and political turmoil, now is a good time to address our financial environment, and disclose recent developments/trends which are now manifesting themselves in Bankruptcy Court. For the purposes of this article, we will confine ourselves to bankruptcy developments in the Southern […]
Recent Bankruptcy Court Observations – Part 2
In the September 2018 edition of the American Bankruptcy Institute Journal, Ed Flynn writes an interesting article regarding “The Changing Profile of Chapter 7 Filers”.[i] By reviewing filing data on more than 650,000 Chapter 7 cases that were filed over a 10 year period of time, he was able to identify trends among Chapter 7 […]
Hundreds of Wells Fargo Customers Lose Homes After “Computer Glitch”
Wells Fargo admits that a “computer glitch” caused the improper foreclosure of hundreds of home loans between April 2010 and October 2015. But keep in mind that there were probably thousands of improper foreclosures that were averted by bankruptcy filings, so the actual amount of loans affected by this glitch was probably much higher. Click […]
Bankruptcy Internet services – avoid at all cost!
Recent observations by our firm of cases in the Augusta Division Bankruptcy Court, as well as information obtained from across the nation, have revealed increase in consumers who access the bankruptcy courts by way of Internet bankruptcy services. These services are run more like a business than an actual law firm, seeking to market bankruptcy […]