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Blog Posts in July, 2012

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  • Fight Medical Debt by Cutting Medical Costs

    Posted By admin || 31-Jul-2012

    It is estimated that one in five Americans struggled with medical debt in 2011, a staggering thought when you consider you might be one illness away from mounting medical debt yourself. There are a number of different ways to handle medical debt and one of the best is before you even incur the debt. Health care is expensive, even for people who have health insurance so to avoid those expenses ...
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  • What is the Purpose of a Divorce Mediation?

    Posted By admin || 30-Jul-2012

    Divorce mediation allows couples who are ending their marriage to resolve issues outside of court. This option is often seen as an alternative to litigation that lets couples review important issues regarding a settlement. Couples are able to retain the divorce outcome by reviewing details with a third party; a mediator. This is a voluntary option but many couples have positive outcomes from ...
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  • Wage Garnishment: Can My Wages be Garnished if I Receive Disability?

    Posted By admin || 30-Jul-2012

    Credit card companies may file a lawsuit to enforce legal ways to collect from debtors when accounts go unpaid. If the credit card company itself doesn't pursue collection, then a collection agency may decide to pursue if they purchased the debt from the original creditor. Unless you provide evidence that the debt has been paid or is not yours, creditors are likely to win a judgment against you. ...
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  • Loan Modification: 5 Steps That May Increase Chances for a Positive Outcome

    Posted By admin || 27-Jul-2012

    Loan modification is often the last hope for a homeowner looking to avoid foreclosure and save their home. Preparing for the process ahead of time by getting familiar with what to expect may help increase the chances of getting your mortgage modified. The following steps may give you a heads up on actions to perform that may help you keep your house: Contact a certified housing counselor. Housing ...
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  • What is a Confirmation Hearing in Chapter 13 Bankruptcy?

    Posted By admin || 26-Jul-2012

    Confirmation Hearing in Chapter 13 Bankruptcy Chapter 13 bankruptcy allows debtors to repay outstanding debt with a payment plan approved by the court. But before the debtor can begin making payments on the agreement, it has to be confirmed upon finalization. This means that parties associated with the agreement could object or make changes before confirmation. In Chapter 13, other parties are ...
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  • Congress Urged by Obama Administration to Include Student Loan Debt in Bankruptcy

    Posted By admin || 25-Jul-2012

    While the push for student loan debt to be discharged in bankruptcy continues, the Obama Administration is pushing Congress to act on the issue. The Administration, along with other political figures, claims the bankruptcy code should be revised to allow student loan debt to be dischargeable. While all types of student loan debt may not be considered for elimination in bankruptcy, the act may help ...
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  • Federal Help for Underwater Mortgages

    Posted By admin || 24-Jul-2012

    In real estate terms, an underwater home rarely means it's actually under water. Today a lot of homeowners are finding themselves underwater with their mortgage, meaning that they owe more on their current home loan than the home is currently worth. This can be a critical situation for people who want to sell their homes or are having a hard time meeting their monthly mortgage payments. The ...
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  • Can I Claim Unemployment if I Do Not Have Childcare?

    Posted By admin || 24-Jul-2012

    Leaving your job involuntarily usually leaves workers ineligible to collect unemployment benefits. Losing your job at no fault of your own makes one eligible but depending on state regulations and personal circumstances, you could be eligible for payment if your job loss is related to limited or no child care availability. When you apply for unemployment, you should have a good reason why you are ...
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  • Ways to Cut Medical Bills

    Posted By admin || 23-Jul-2012

    Paying expensive medical bills is something that every American should think about, whether they currently have medical debt, are anticipating medical debt or aren't even thinking about it. The cost of medical care in this country has skyrocketed and for those people lucky enough to have insurance, they're noticing that even that isn't protecting them from astounding medical bills. The best way to ...
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  • Government Sponsored Managed Exit for Foreclosures

    Posted By admin || 23-Jul-2012

    The housing crash around the country is widely known and is probably the leading contributor to the economic problems the country faces. But this isn't all that the housing boom and subsequent crash has brought to the American public. We're now facing a foreclosure crisis fueled by illegal robo signing practices used by the banks. Summed up, this means that many Americans have faced foreclosure in ...
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  • Sources to Help You Find the Right Bankruptcy Attorney

    Posted By admin || 20-Jul-2012

    Many debtors who seek bankruptcy protection often don't know where to start when it comes to hiring a bankruptcy attorney. While it is important to know what to look for when hiring legal representation, some people may feel they have limited sources to choose from. Most don't realize there are a variety of sources available that can help you find the right lawyer. Obtain recommendations from ...
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  • Why is Important to File a Federal Income Tax Return Even if it is Late?

    Posted By admin || 20-Jul-2012

    If you voluntarily file back income taxes the consequences for filing late fail in comparison to having the Internal Revenue Service (IRS) pursue you for outstanding taxes. The longer you wait to file unfiled taxes it's likely you'll pay more in penalties and interests. This reason alone should be enough for taxpayers who haven't filed previous returns to get them submitted but unfiled returns for ...
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  • 5 Tips to Help You Choose the Right Bankruptcy Attorney

    Posted By admin || 19-Jul-2012

    Choosing the right bankruptcy attorney greatly increases chances of getting a successful outcome for your case. Your case could be jeopardized by an attorney who is unfamiliar with bankruptcy laws; meaning your assets could be at risk. The good news is there are a few easy tips to keep in mind that may help you choose the right attorney: The attorney should specialize in bankruptcy laws. An ...
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  • Unpaid Taxes: Understanding the IRS Collection Process

    Posted By admin || 19-Jul-2012

    The IRS Collection Process Failing to file an income tax return or filing but failing to pay what is due may prompt the Internal Revenue Service (IRS) to begin the collection process. A tax bill, CP-14, is sent to a taxpayer which begins the process. The IRS has been known to increase their collection efforts soon after the bill is sent. They will continue efforts until the tax debt is paid in ...
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  • What Happens to My House if I File Chapter 7 Bankruptcy?

    Posted By admin || 18-Jul-2012

    Your House During Chapter 7 Bankruptcy Many debtors are under the impression that they will automatically lose their home if they file Chapter 7 bankruptcy. The idea has even kept many from filing to begin with but in most cases, you'll be able to keep personal property including your home. The ability to keep your home often depends on several factors including exemptions and any equity your home ...
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  • How Does an Attorney Help with Mortgage Modification?

    Posted By admin || 18-Jul-2012

    Homeowners not familiar with loan modification may wonder what can lawyers do or why they would need legal assistance. There are multiple reasons a lawyer may be sought; not just after the process when a homeowner could be losing their home due to foreclosure but even before and during the process. A lawyer can give homeowners pertinent details relating to legal rights, review the process in ...
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  • What is the "Good Faith" Requirement for Chapter 13 Bankruptcy?

    Posted By admin || 17-Jul-2012

    "Good Faith" Requirement for Chapter 13 Bankruptcy Chapter 13 bankruptcy allows you to repay debt obligations through an approved payment plan by the court. The "good faith" requirement is basically the debtor proposing they will make payments according to their payment schedule in "good faith" for the duration of the bankruptcy. When you file, you and your trustee will agree on what payments will ...
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  • Former State Trooper Charged with Mortgage and Bankruptcy Fraud

    Posted By admin || 17-Jul-2012

    According to FBI officials, Former Ohio State Highway Patrol trooper Benjamin W. Richardson has been sentenced to 50 months in prison for multiple charges including mortgage and bankruptcy fraud. He was also charged for tampering with a witness that was part of a federal investigation. In regards to the mortgage fraud charges, Richardson was ordered to pay lenders just over $600,000 in ...
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  • When You Should Consider Contacting a Bankruptcy Attorney

    Posted By admin || 16-Jul-2012

    Many believe they have to be broke or completely financially unstable in order to contact a bankruptcy attorney. Even if you feel you are in good place with your finances, it may prove helpful to get information about bankruptcy that could be useful later on. On the other hand, certain situations could be reviewed with a legal expert to give you a clear idea on what options are available. Plus, ...
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  • Can I Be Sued by Debt Collectors Before Debt Has Been Verified?

    Posted By admin || 16-Jul-2012

    Consumers who are skeptical about debt they are being sued for should have it verified before taking additional steps to get that debt resolved. Since creditors are known to sell debt accounts to collection agencies it is possible to find errors in account data. Such errors may lead to the agency trying to collect on debt that has already been paid, an incorrect amount of debt listed on the ...
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  • Management behind "Day Jams" Plans to File Chapter 7 Bankruptcy

    Posted By admin || 13-Jul-2012

    Day Jams Camp announced on its website that it plans to file for Chapter 7 bankruptcy protection. In what may be seen as an abrupt move by the management company behind the camp, this may be seen as a surprise to many parents who had their children enrolled to participate this summer. The camp has 15 locations across the country including 2 in Texas, and the camp was set to open a new location ...
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  • Bankruptcy Fraud: Illinois Man Sentenced Five Months in Federal Prison for Concealing Assets

    Posted By admin || 13-Jul-2012

    William Cecil Griffin, 62, of Ashland, Ill was sentenced to 5 months in federal prison after pleading guilty to concealing assets when he filed Chapter 7 bankruptcy in 2009. Griffin was also ordered to pay over $40,000 in restitution to creditors. After completing his prison term he will be under home confinement for 5 months; part of a 3 year supervised release. In February of this year, Griffin ...
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  • Do I Have to Give Information about My Business if Filing a Personal Bankruptcy?

    Posted By admin || 12-Jul-2012

    Whether you file a Chapter 7 or Chapter 13 bankruptcy, you are required to disclose certain financial information about your business. Most likely, any business interest accrued would need to be disclosed; if you have more than 5 percent in business ownership, this would also need to be presented upon filing. Basic information about your business may be needed such as the name of your business, ...
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  • San Bernardino, California Seeks Chapter 9 Bankruptcy

    Posted By admin || 12-Jul-2012

    California has had other cities recently file for bankruptcy protection including Stockton and Mammoth Lakes. Unfortunately, San Bernardino is the third city to seek Chapter 9 bankruptcy protection. Like the other cities that filed their petitions, San Bernardino is facing a hefty deficit close to $50 million and hopes the filing will help the city stay afloat. The city has roughly 209,000 ...
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  • Understanding Your Rights Under Bankruptcy Laws

    Posted By admin || 11-Jul-2012

    Your Rights Under Bankruptcy Laws While some may assume bankruptcy laws lean more toward helping debtors than creditors or vice versa, the fact is they are designed to protect both debtors and creditors. Rules and regulations in relation to bankruptcy laws, along with the rights of both groups, are enforced by the bankruptcy court to ensure fairness of the case being presented before the judge. As ...
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