By Scott Riddle Posted in Chapter 7,Creditor Law,Debt Collection & ForeclosureFunds in joint bank accounts can generally be accessed by all account-holders — each of them can withdraw all of the money in the account regardless of who actually deposited the funds in the account. This is often the reason for having a joint account. However, this can create a huge problem for the account… Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & Foreclosure The following news release discusses a rise in a scam involving criminals impersonating federal court and law enforcement personnel. Across the United States, individuals posing as federal court officials and U.S. Marshals are targeting citizens, threatening them with arrest unless they pay. “This year’s scams are more aggressive and sophisticated than we’ve seen in… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Creditor Law,Debt Collection & ForeclosureYou have filed and completed your Chapter 7 or Chapter 13 Bankruptcy case, and finally received your all-important discharge. Unless you have very unusual circumstances, you did not officially reaffirm any of your debts in your case. However, now you have thought about it and you want to pay back a certain pre-petition debt that… Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureYou have been informed by a creditor that your debt has been “charged off,” or your credit report shows that a debt has been charged off. You believe that this is the end of the matter, but all of a sudden you find out you have been sued for the debt by a debt collector. … Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureIf you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties. The creditor gets some of the money it is owed, and you hopefully are… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Debt Collection & ForeclosureIn Georgia, the first Tuesday of every month is “Foreclosure Day.” It is the one day a month when home lenders are able to foreclose on homes and other real estate, assuming they have met the other requirements of foreclosure such as notice to the borrowers. Not surprisingly, the busiest day for Bankruptcy filings in… Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureThe U.S. Department of Education recently announced a new process to identify and assist borrowers with disabilities who may be eligible for Total and Permanent Disability (TPD) federal student loan discharge. More information about qualifications and the application process can be found by clicking here. You can also read the April 12, 2016 Press Release… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureFalling behind on child support payments is a bad situation for everyone. Not only are their serious legal issues involved, there are often very strong emotions in play. In Georgia and probably all other states, the failure to pay child support can land the non-paying parent in jail (usually after clear warnings from a judge). … Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureThe primary goal of most Bankruptcy cases is to get a discharge of some or all of your debts. The discharge order is an important document that will permanently protect you from future attempts to collect all debts that were discharged, and you have your important “fresh start.” It is your time to move on… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureHome loan modifications have been a really big deal the last few years. The reality, however, is that the number of actual successful modifications is far less than originally “promised” by politicians, lenders and others involved in the process. Tales of lost documents, months-long delays, and then denials abound. Given that, is it necessary or… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7,Creditor Law,Debt Collection & ForeclosureYou have been sued for a debt, the case is over and a judgment has been entered against you. Is it too late to file for Bankruptcy to try to discharge most or all of the debt? No…it is rarely “too late” to file a Bankruptcy case. Often, it is the judgment that provides the… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Creditor Law,Debt Collection & ForeclosureDo you have a friend or relative who just throws money away by spending every penny or running up credit cards and debt on unnecessary things? All of know people who do that to some extent. What if a relative is personal friends with a Nigerian Prince and sends him money on occasion? What if… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Creditor Law,Debt Collection & ForeclosureOne of the most frequently asked questions on the various debt and bankruptcy forums is whether a person is still responsible for debts their former spouse agreed to pay (or was ordered to pay) in a divorce settlement or decree. For example, a Court may divide the debts and order the husband to pay the… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7,Creditor Law,Debt Collection & ForeclosureYou see the signs all over the place. “BUY HERE PAY HERE!” “NO CREDIT CHECK!!” “APPROVED!!” “BAD CREDIT OK!!” This is an awesome deal for people with poor credit, such as people just out of a Bankruptcy case, right? These companies provide a good service and help people rebuild their financial lives and give them… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7,Debt Collection & ForeclosureIn a previous post we discussed in detail the math that applies when a Chapter 7 Trustee is deciding whether or not to sell a house. In short, unless there is significant equity over and above exemptions, rarely will a Trustee be interested in taking a second look at the house. There is simply no… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Debt Collection & ForeclosureThe Governor’s Office of Consumer Protection recently shut down Zenith Financial Group, a Metro Atlanta-based collection agency. As part of the agreement, Zenith agreed to cease collections on $3.1 in purported debt. Zenith was accused of violating the Georgia Fair Business Practices Act by threatening consumers with arrest or imprisonment and concealing that its collectors… Continue Reading
By Scott Riddle Posted in Chapter 7,Creditor Law,Debt Collection & Foreclosure‘Tis the Season … of very attractive offers from credit cards for cash advances or balance transfers at 0% interest or a very low interest rate (“teaser rates”). I get them just about every day from credit cards I have and ones I don’t have. The most aggressive bank sends me about two offers a… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureThis question comes up fairly regularly. Is it a good idea, or totally useless, to tell your creditors that you are planning on filing for Bankruptcy, have hired a Bankruptcy lawyer, or you are going to file for Bankruptcy at some point. There is really no firm answer either way as it depends on the… Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureAlthough Debtors Prison was a reality in the United States a couple hundred years ago, and still exists in other countries, you cannot go to jail or prison, or even be lawfully arrested, merely for owing a debt. It does not matter whether it is a $100 debt to a friend or a $1 million… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Creditor Law,Debt Collection & ForeclosureAmong the biggest causes of Bankruptcy is divorce. Not only can it lead to significant legal fees, the spouses usually find themselves paying for two households rather than one while still making the same combined income. One party may not have the ability to keep paying for their house on a single income. The problems… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7,Debt Collection & ForeclosureIf you have gone through the foreclosure process, maybe because you have decided to leave an expensive house and debt behind, and you are still living in the house, you are probably wondering how long you can stay in the house before you have to move. The answer is…it depends. Primarily, it depends on the… Continue Reading
