ROMANCE SCAMS – A STEADILY RISING CAUSE OF BANKRUPTCY
Victims of scam artists frequently find themselves in financial distress. Our office has represented dozens of innocent scam victims who liquidated assets, and then after their assets were expended, began borrowing money in the futile hope that the con artist’s promises would be realized. These scams have included international lottery scams, threats of outstanding criminal […]
Debt Settlement: How It Works and Risks You Face
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When Bankruptcy Is the Best Option
https://www.nerdwallet.com/article/finance/bankruptcy-best-option
THE HIDDEN RISKS OF DEBT SETTLEMENT PLANS
As the government support received during the pandemic begins to diminish, and lender/creditors resume their regular collection activity, many consumers may consider enrolling in a debt settlement plan. Unfortunately, the sales hype about these plans rarely match the intended results. Part of the problem is that some debt settlement companies fail to disclose their fees […]
MANAGING YOUR FINANCES DURING AND AFTER THE HOLIDAYS
The economy has improved greatly in the last year after Covid upended our normal way of life. Growing consumer confidence and higher wages are fueling the surge. Unfortunately, supply chain issues are reducing inventory, which means that goods will be more expensive than they have been in the past. As a result, holiday shopping will […]
IF A CREDITOR HAS A JUDGMENT AGAINST ME, CAN THEY TAKE MY SOURCES OF INCOME?
As courts have resumed their normal operations, many debt collection lawsuits that were pending prior to Covid, or filed after Covid, have now gone to judgment. One of the methods for a judgment creditor to collect the money owed on the judgment is to garnish sources of income. However, there are many sources of income […]
Minimizing or Eliminating “Collateral Damage” From a Bankruptcy Filing
While your financial circumstances may make a bankruptcy filing inevitable, there are still issues to consider beyond the relief that the bankruptcy court can provide. While the main focus of a bankruptcy consultation with Leiden and Leiden is to assess your financial problems and discuss the available bankruptcy options, another goal is to address any […]
Five Easy Ways to Weather Financial Pitfalls
The most common misconception of an individual who files for bankruptcy is that they were reckless or irresponsible in the management of their credit. While there are many debtors who visit bankruptcy court because of overextension and mismanagement, they do not represent the majority of bankruptcy filers. No matter how well somebody plans for their […]
What Can I Expect When my Mortgage Forbearance Ends?
In March of 2020, the World Health Organization declared that Covid – 19 had officially become an international pandemic. Life as we knew it, both personally and economically, changed. While the extent of the financial effects varied, almost all consumers experienced some type of economic change. Based on the lessons learned during the “Great Recession” […]
ASSETS THAT MANY PEOPLE DON’T REALIZE THAT YOU CAN PROTECT IN A BANKRUPTCY CASE
When a bankruptcy petition is filed, the debtor is required to identify and disclose all of their assets. This includes physical assets such as real estate, automobiles, and personal property. However, it also includes many intangible assets such as retirement plans, IRAs, claims for money or damages, insurance policies, and many other non—physical assets. One […]