Archive for February, 2009
Bankruptcy Law Being Modified
This new bankruptcy law measure could give bankruptcy judges more power to modify primary home mortgages. Congress is poised to give bankruptcy judges more power to modify primary home mortgages in an attempt to halt the foreclosure crisis, a move Democrats and housing advocates have been pushing for two years in the face of stiff [...]
Most Mortgage Servicing Giants Agree To Foreclosure Prevention Plan
Two-thirds of mortgage servicers have agreed to implement the foreclosure-mitigation policies outlined by Treasury Secretary Timothy Geithner last week, a top Senate Democrat said Wednesday. According to a senior financial-industry lobbyist, this includes the four-largest national mortgage servicers: Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co.
Senator Charles [...]
Bloomberg Examines Consumer Debt Relief
Many people believe that bankruptcy is a four letter word, but if you’re drowning in debt, it may offer you the chance you need to regain your financial footing. Here you’ll learn exactly what bankruptcy is and how it affects your life.
Our debt relief specialists will review your financial situation and then quickly provide [...]
Chapter 7 Bankruptcy Exemptions
Most American consumers believe that once you file for bankruptcy you will lose everything. In fact, most people do not know most people are able to keep most of their personal items, their cars, and even their homes. In California, if you qualify as a Chapter 7 bankruptcy, there are two exemptions that you can [...]
Bankruptcy Laws Regarding Chapter 7 Means Test
It is inevitable if you are considering filing bankruptcy that you will hear about the Means Test. Before the bankruptcy laws were changed, a person who wanted to file for bankruptcy could file for a Chapter 7 or Chapter 13 based on their preference. However, under the new laws, the first step in determining if [...]
San Jose Bankruptcy Attorney Discusses Automatic Stays
When you file for bankruptcy you receive an “Automatic Stay.” An automatic stay is an injunction where creditors have to stop trying to collect debts from you. The automatic stay is to protect and buy you time against pressing debts, while you are awaiting the finalization of your bankruptcy discharge. This means, that upon filing [...]
Bankruptcy Judges Can Modify Mortgage Loans
You know you’re in a tight spot when Bankruptcy Court begins to look like the least bad solution to a pressing economic problem. But the housing foreclosure situation is pretty ugly, so there we are. Unfortunately, U.S. Bankruptcy Court isn’t allowed to be part of the solution to rising foreclosures, thanks largely to the mortgage [...]