Submitted by Erik Clark on Wed, 10/23/2013 - 1:01pm
Short Sale Best Practices
You’ve fallen behind on your mortgage payments. You don’t think you’re going to be able to catch up and you’re trying to avoid foreclosure, so you’re searching for other options. You want to save your credit score and avoid trouble with the bank. Is a short sale the answer you’re looking for?
Submitted by Barry Borowitz on Fri, 09/27/2013 - 7:44am
Do I Have Too Much Debt to File for Bankruptcy?
Your bills are past due, you’ve missed car and house payments, and you don’t think you’ll be able to dig yourself out anytime soon. Have you considered bankruptcy? It might be a way to start fresh. But your stack of bills is gigantic and it seems like you’ll never be able to pay it back? Do you have too much debt to file for bankruptcy?
Submitted by Erik Clark on Wed, 08/07/2013 - 8:55am
In re Suttice, 487 B.R. 245 (Bankr. C.D. Cal. 2013)
Securing Social Security
You may stop working, but the bills won’t stop coming. In retirement, some people live off of pensions and other kinds of retirement income. If nothing else, almost everyone receives Social Security benefits. Unfortunately, that may be too little.
Submitted by Barry Borowitz on Mon, 07/15/2013 - 7:57am
Milosevic Next Door – In re Cass, 476 B.R. 602 (C.D. Cal 2012)
When bankruptcy and civil lawsuits mix, the results can be ugly. Catherine, a California resident, had two lawsuits and two bankruptcies on the table. When creditors came after her house, she decided to go down swinging.
Submitted by Barry Borowitz on Fri, 06/28/2013 - 5:50am
What Does it Mean to be “Judgment Proof?”
Unsecured creditors, like credit card lenders, must obtain a judgment against you before they can attach assets in satisfaction of past due debts. They do this by suing you for what you owe. Most people rightfully owe the debt and fail to respond to the collection lawsuit. As a result, the court enters a judgment, which is the court's determination that you owe what the creditor says you do.
Submitted by Barry Borowitz on Thu, 05/30/2013 - 10:03am
California Wage Garnishments
If you have defaulted on debt, then your creditors may sue you to obtain a “wage garnishment.” A wage garnishment is where your employer deducts money from your pay, and then delivers that money to your creditors. The amount that your wages can be garnished depends on the type of debt that you have. Additionally, who can have your wages garnished also depends on the type of debt that you owe.
Submitted by Erik Clark on Thu, 05/30/2013 - 9:43am
Five Things Every Consumer Should Know About Credit Card Contracts:
Credit cards are so commonplace that many consumers assume all agreements are standard. You already know how it works - you pay the balance every month or interest accrues. Besides, the contracts are long, full of technical jargon, and tiny font. Most of the information seems like it doesn’t apply to you. Is it really worth reading the whole thing? Here are five reasons not to skip the small print when it comes to your credit card contract: