Chapter 13 Bankruptcy: Individuals

Chapter 13 is a repayment bankruptcy.  It is utilized by individuals, and owners of sole proprietorships or other “mom and pop” businesses, not only to obtain a fresh start, but also to retain their assets and reorganize their financial affairs.
For most individuals with debt problems, the major decision is whether to file for protection [...]

Loan Modification News

USAToday reported on the impact of loan modifications on credit scores this week. Selected paragraphs:
A growing number of cash-strapped consumers are working with lenders to modify their mortgages so they can stay in their homes. But these modifications could wreck consumers’ credit.
A modification is typically a change in loan terms. Usually, the interest rate is [...]

The Importance of Paperwork

This story from New York brings a lesson to both debtors and creditors: sometimes the lack of proper paperwork stops a collections process/foreclosure.

Better Business Bureau Alert: Get Home Solutions

As a member of the Better Business Bureau, we review the organization’s activity updates regularly.  If they affect our clients and prospective clients directly, we highlight them on our blog.
What follows is a quote from the BBB on one of the many fraudulent schemes targeting homeowners at risk of foreclosure:
The “we buy houses” concept is [...]

Asset Protection Basics

Many people want to come in and talk about asset protection are surprised to learn that they have no assets to protect. “How can this be? “I own a car and a house!”
Asset protection comes in to play if you own non-exempt property — property that creditors can reach; or if you anticipate that you [...]