Board Certified Specialist in Bankruptcy
Mortgage modifications are rare. Modifications for second mortgages present challenges of their own. Clients who are in financial difficulty are well advised to consider a Chapter 13 bankruptcy case as an option when they are current on their first mortgage but are not paying, in full and on time each month, their second mortgage (including a home equity loan or other debt secured by the … [Read more...]
Clients often ask us whether filing a bankruptcy case will affect their eligibility for student loans.Generally, these are parents who plan to seek PLUS loans for their kids’ college educations, but sometimes it is the client who plans to go back to school and needs financial assistance in order to do so. The bankruptcy code is specific The Bankruptcy Code contains a specific provision … [Read more...]
On December 13, 2011, the President signed into law H.R. 2192, the National Guard and Reservist Debt Relief Extension Act of 2011. My dad retired from the Army Reserves as a lieutenant colonel, and we are all aware of the sacrifices made by those on active duty. That’s why I’m happy that this law exempts certain military and homeland defense members from a means-test presumption of abuse … [Read more...]
After several years of speaking with our clients about loan modifications to save homes and hearing a sad litany of misinformation and outright deceptions, it has become painfully obvious that loan modifications are more smoke and mirrors than reality.Does this mean that there is nothing that homeowners can do to try to save their homes? Unfortunately, in most instances the answer is … [Read more...]
Yes, it costs money to file for bankruptcy protection. This post covers court costs and legal fees related to Chapter 7, Chapter 13 and Chapter 11 bankruptcy cases.Too often, we counsel folks who qualify for bankruptcy but who’ve been spending their money trying to avoid filing. They spend it on so-called debt relief programs, they spend it trying to keep their home out of foreclosure, and … [Read more...]
We have seen how sloppy and aggressive foreclosure processes have taken a toll on homeowners, neighborhoods and the economy in general. Last week's news of a House panel examining lapses and gaps in mortgage servicing regulation caught my attention, but I don't expect a speedy resolution. State attorneys general and the Justice Department are advanced talks with JPMorgan Chase & Co. … [Read more...]
You probably landed on this page after a search engine brought our firm to your attention. Most people begin their search for a Chapter 13 bankruptcy lawyer in this exact way. Now you must narrow your search.When hiring a law firm or lawyer to represent you in the courts, we suggest that you ask prospective firms whether you will be dealing with a partner or an associate throughout your … [Read more...]
Unfortunately, divorce usually requires some consideration of the estranged spouses’ assets and liabilities. Most married couples incur joint debts during their marriage, meaning that both spouses are liable for the debt. Here are some general thoughts to consider if you find yourself contemplating, or going through, a bankruptcy and divorce in North Carolina. Creditors don't care about … [Read more...]
An industry publication recently analyzed U.S. personal bankruptcy filings, finding that despite bankruptcy reform efforts designed to make filing and eligibility for Chapter 7 more difficult, the recession has forced filing rates up to the point they were before the reform.In 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was signed into law, and continues to be … [Read more...]
Individuals in need of Chapter 13 bankruptcy protection often begin searching for a law firm on the internet, a confusing endeavor at best thanks to the troubled economy because the demand for bankruptcy lawyers has increased faster than the supply of knowledgeable and experienced practitioners.How do we know this? Because we so often find ourselves unwinding the messes that … [Read more...]