If you owe a creditor money, you may think that it is a good thing if that creditor stops attempting to collect the debt. Note, however, that if a creditor cancels or forgives a loan, it may report...
July 28, 2011
Bankruptcy,
Foreclosure
Recently, in a case involving Wells Fargo and American Home Mortgage Servicing, Inc. (AHMSI) we had the opportunity to take the deposition of bank representative Jose Colon. A copy of the deposition...
July 23, 2011
Foreclosure
As if it was not hard enough to lose ones home in a foreclosure action, could you imagine being required to write a check to the mortgage company after the home is sold at auction? Many borrowers owe...
June 17, 2011
Bankruptcy
It is well known that the leading cause of divorce is money....or rather the lack of money. What I have come to learn after meeting with many divorced debtors in my bankruptcy practice, is that the...
June 15, 2011
Bankruptcy
We've all heard the old saying, "Life goes on." Well, the old saying is true, and it applies very well to those who have gone through bankruptcy.
To be sure, there are challenges. Filing for...
May 1, 2011
Bankruptcy,
Chapter 11
Just as individuals feel the pinch of a slow economy, businesses suffer during economic downturns. A recent high profile example of a business seeking bankruptcy protection is the L.A. Dodgers filing
April 12, 2011
Bankruptcy,
Chapter 11
The recession may officially be over. But times are still tough, with unemployment high, housing values low, and everyone trying to adjust to a new economic reality.
Fortunately, bankruptcy remains a...
December 27, 2010
Bankruptcy,
Debt Management
Everyone's situation is different and one must consider seriously whether filing bankruptcy or trying to settle with credit cards is the right strategy. If the debt is just too high for you to ever...
December 23, 2010
Bankruptcy
New Jersey Bankruptcy Filings Increase
From the end of November 2009 to the end of November 2010, the total bankruptcy filings were up 16% year over year. The total bankruptcy filings from December...
June 16, 2010
Bankruptcy,
Debt Management
Contrary to popular belief, some back due taxes owing to the Internal Revenue Service (IRS) can be wiped out in bankruptcy. In order to be eligible to wipe out a tax debt, there are five conditions...