Can Chapter 13 Bankruptcy Save Your Home from Foreclosure? | Haines & Krieger Law Firm

When purchasing a home, foreclosure may be the last thing on your mind, but sometimes situations occur that put you in jeopardy of losing your home.  Job loss, mounting debt, loss of ability to work, or even divorce impact many homeowners’ ability to make their mortgage payments, and eventually find themselves in foreclosure. What Does Foreclosure Mean? Foreclosure allows a …

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Keep Evidence When Creditors Harass You

Several federal consumer protection laws protect against creditor harassment. For instance, the Fair Debt Collection Practices Act forbids a third party collector from calling after you have retained an attorney to represent you (to file bankruptcy, for instance). The Telephone Consumer Protection Act prohibits auto-dialing telephone calls to a cell phone, unless you have previously given express consent. Of course, …

A Chapter 7 bankruptcy case is also called a “straight” bankruptcy. The idea is that the debtor does not have enough income to pay creditors over a reasonable period of time, so all unsecured creditors can recover is any money from the liquidation of the debtor’s non-exempt property. In most cases that means unsecured creditors receive (drum roll please). . …

Bankruptcy Options After Vehicle Repossession

If your vehicle has been repossessed, you may be able to get it back by filing bankruptcy, if you move quickly. Section 542 of the Bankruptcy Code requires that entities in possession of “property of the bankruptcy estate” are generally required to turn the property over to either the trustee (in Chapter 7) or the debtor (in Chapter 13). Section …

5 Ways Bank of America Is Avoiding Mortgage Servicer Settlements

A few weeks ago, it came to light that Bank of America (BoA) was abusing HAMP modifications and throwing people into foreclosure for profit. Recently, news about BoA emerged again. This time, it’s how the megabank is trying to evade the mortgage service settlements it has entered into with the federal and state governments. Here’s what it’s doing. Megabanks are …

Stopping Creditor Calls to Your Cell Phone

Being unable to pay your bills can make you feel powerless. Nasty letters and phone calls can ruin your day, especially when a collector calls your cell phone during work or while you are with friends. Fortunately, there are several consumer protection laws that can redistribute the balance of power and bring you some peace. One powerful protection is the …

4 Types of Debts Subject to Income Tax Refund Offsets

Tax refunds are something everyone enjoys receiving, especially those who have significant debts. However, Congress created the Treasury Offset Program, which authorizes the Treasury Department’s Financial Management Service (FMS) to reduce your tax refund and pay the offset to another party. Here are four situations in which the government will attempt to do this: Past-due child support Unpaid state income …

Effects of a Dismissed Bankruptcy

A bankruptcy case can be dismissed for many reasons. Generally, the Bankruptcy Code allows a dismissed case may be re-filed at any time, and the debts included in the prior bankruptcy are not barred from discharge. Once a case is dismissed, the automatic stay terminates and creditors are free to immediately renew collection actions against the debtor. Finally, dismissing the …

7 Lessons From the New York Fed’s Recent Report on Student Loans

Concern continues to rise over the value of higher education, especially the value of the loans students take out to obtain it. It is rare for people to discharge student loans in Las Vegas bankruptcy, primarily because few debtors try, but also because it is difficult for debtors to file the adversary proceeding beforehand and passing the Bankruptcy Code’s “undue …

New York Times: Homeowners Still in Foreclosure

Last year, 50 states attorneys general and the federal government entered into an agreement with five of the largest banks over the robo-signing foreclosure scandal. The original settlement involved only $26 billion, but that figure rose to $45.8 billion. Some money would go to victims of wrongful foreclosures ($1,800 to $2,000) on average, and $17 billion would be used for …