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People who have filed for bankruptcy and received their discharge are often shocked when they continue to receive threatening letters and phone calls from their creditors. Some creditors even go so far as to sue on these discharged debts, are awarded judgments and...
The short answer is no, they cannot. In a recent case, Fernandez v. Chang, 2014 WL 32201(Bankr. D. Md. 1/6/14), the Bankruptcy Court ordered debtor’s counsel to disgorge all fees collected post-petition and also awarded the debtor compensatory and punitive damages....
We are bombarded by the advertisements on television and radio by so called “debt resolution” services or “debt settlement” programs. The basic idea for all of these companies is the same: they promise to put you into a repayment program and settle your debts for...
Homeowners now have another tool to avoid the foreclosure of their homes, thanks to rules recently enacted by the Consumer Financial Protection Bureau (CFPB) (www.consumerfinance.gov). Due to the miserable experience many distressed homeowners have had with their...
With budgets tight these days, people considering filing for bankruptcy are often looking to save a few dollars by either filing their bankruptcy case themselves or by hiring a “petition preparer,” who is not a lawyer, to fill out the forms for them and file the case...
If you are considering filing for Chapter 7 bankruptcy and are anticipating receiving a tax refund, you may be wondering whether you can keep it. The answer will depend on the amount of the refund compared with the value of your other assets. If you are anticipating a...
If your car is worth less than the amount you still owe on a loan that you received more than 2 years and 8 months ago, it may be possible for you to “cram down” or “strip down” the lien on your car to the present value of your car. In addition, if you file Chapter...
The Mortgage Forgiveness Debt Relief Act expires on December 31, 2013 and has not yet been extended by Congress. This Act is designed to help homeowners who sell their properties at a short sale or whose properties were sold at foreclosure sales from having to pay...
One of the most powerful laws used by debtors in Chapter 13 bankruptcy cases is the ability to avoid or “strip off” wholly unsecured second or third liens on their personal residences. For example, where spouses own a home worth $200,000, with a first mortgage of...
The Consumer Financial Protection Bureau, CFPB, has developed new rules that will take effect on January 10, 2014. These rules are designed to help people who are struggling with their mortgages. Under the new regulations, if a borrower is having problems paying the...