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Many debtors feel bankruptcy is their final option in helping them regain financial control. While there are filing fees and credit counseling fees that are required, many wonder how they can pay if they can’t afford to pay their creditors. You may even have the notion of saying why bother paying for an attorney when [...]
U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, introduced legislation on Tuesday that would prohibit employers from requiring job applicants to disclose their credit history.
In a conference call with reporters, Warren argued that a person’s poor credit history is often the result of medical bills, job loss or divorce and does not reflect his ability to perform a job.
A credit reports includes information on the bank accounts and credit card accounts opened by a person and whether those accounts are paid up. It indicates liens, bankruptcy filings and court judgments. A 2012 report by the Society for Human Resource Management found that around half (47 percent) of companies conduct credit checks on some or all prospective employees.
Read more….
The post Bill to Prohibit Running Credit Checks on Job Candidates appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.
Diane L. Drain, attorney and counselor
Demystifying Current Real Estate Problems. Diane will be a featured speaker at the American Bankruptcy Institute Western Consumer Conference, Monday, January 20, 2014
ABI’s Second Annual Western Consumer Conference is a day-long program designed specifically for consumer bankruptcy practitioners. This year’s program will address the topics that consumer practitioners need most: current real estate problems, student loans, case law update, bankruptcy treatment of same-sex marriages and reaffirmations, including ethics. The program will close with a cocktail reception. The conference is a must-attend for every consumer bankruptcy practitioner!
The post Demystifying Current Real Estate Problems appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.
This is the case of Jeffrey and Debra Miller who live in Gilberts, Illinois which is in Kane County Illinois. They were here for a consultation on either Chapter 7 or Chapter 13 bankruptcy. As we run through the facts here, they have not filed a bankruptcy before. They do own a home with a+ Read MoreThe post Bankruptcy Filing Will Depend Upon The Means Test appeared first on David M. Siegel.
Chapter 13 bankruptcy is a repayment plan that restructures debt obligations to help you make affordable payments each month. The plan is designed to help you get out of debt or help you catch up on debts you may have fallen behind on. Making a purchase in Chapter 13 such as a vehicle may be [...]
Many people know they are in a desperate situation and need to file a Delavan Chapter 7 Bankruptcy. What they don’t know is that timing can make all the difference in the outcome of the Chapter 7 Bankruptcy and in their livelihood. Several factors are involved when determining when is the right time to file a Delavan Chapter 7 Bankruptcy. Our Delavan Chapter 7 Bankruptcy attorney discusses some of the most important timing issues below.
Factors you need to consider before filing a Delavan Chapter 7 Bankruptcy:
- Are you unemployed with a large amount of creditors? Losing your job can place a tremendous amount of stress on you. Losing your job with a huge amount of credit card debt can place even more stress on your shoulders. Before you fall too far behind, hinder your credit score, and have your items repossessed, you may wish to file for a Chapter 7 Bankruptcy.
- Do you have a large amount of medical expenses? Medical expenses can be an enormous financial drain. Bills from the hospital, radiologist, laboratory, specialist, doctor and more all come piling in the mailbox, and possibly from just one emergency visit. If you have or are facing major medical problems, you may know the reality of this situation. Several office visits, surgical procedures, and physical therapy can add up quick. Filing for a Chapter 7 Bankruptcy can help save you from drowning in medical debt. You need to focus on your recovery.
- Are you currently having marital problems? As difficult as it may be to face, marital problems may be a major reason to file a Delavan Chapter 7 Bankruptcy. You may have lost the income of a spouse and can’t handle all of the bills on your own. It’s nothing to be ashamed of and you can get help. You deserve help. A fresh start from a Chapter 7 Bankruptcy may be just what you need.
- Is your home about to be foreclosed on or are your wages about to be garnished by a creditor? If your livelihood or home is being threatened by a creditor, you may wish to file a Delavan Chapter 7 Bankruptcy immediately. Once the Chapter 7 Bankruptcy is filed, it will take immediate effect. Creditors will no longer be able to seize, foreclosure, garnish, or attach to any of your assets.
Our Delavan Chapter 7 Bankruptcy law firm knows that bankruptcy can be scary. We are here to guide you through the process and relieve your worries and stress. Knowledge is power and the more you know and understand about a Chapter 7 Bankruptcy, the less stress and worry you will feel. It is also important to rely on a Delavan Chapter 7 Bankruptcy attorney you can trust. We want you to feel comfortable with your decision to file for bankruptcy. A Chapter 7 Bankruptcy is a perfectly acceptable solution to your overwhelming debt in this difficult economy. Please, contact us to discuss whether a Delavan Chapter 7 Bankruptcy is right for you by calling our bankruptcy law firm at 262-725-0175 or by email via our contact page.
*The content and material on this web page is for informational purposes only and does not constitute legal advice.
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for December 19, 2013 Ski center slaloms toward bankruptcy finish line Bankruptcy Auction Yet to Produce Buyer for Atlantic Club Bankruptcy judge suspends trial over proposed swaps settlement
Debtors considering Chapter 13 bankruptcy may want to know how much they are required to pay during the plan. Understanding what you will be required to pay will depend on several factors. Your monthly income, type of debt, and ability to make payments will have an effect on what you will pay. There are certain [...]
As of 2013 this nation’s second largest consumer debt market is student loans. It is predicted that student loan defaults will be the next financial tidal wave to hit the nation. Earlier this year, the Consumer Financial Protection Bureau (CFPB) announced that outstanding student debt totals approximately $1.2 trillion. The Bureau also estimates that 7 million student loan borrowers are now in default on their debt.
More than 40 million Americans with student debt depend on student loan servicers to serve as their primary point of contact about their loans. Student loan servicers’ duties typically include managing borrowers’ accounts, processing monthly payments, and communicating directly with borrowers. When facing unemployment or other financial hardship, borrowers contact student loan servicers in order to enroll in alternative repayment plans, obtain deferments or forbearances, or request a modification of loan terms.
CFPB issued a rule December 5, 2013 that allows the Bureau to supervise certain nonbank student loan servicers for the first time. Under this new rule, which was proposed in March, the Bureau estimates that it will have authority to supervise the seven largest student loan servicers. Combined, those seven service the loans of more than 49 million borrower accounts, representing most of the activity in the student loan servicing market.
Borrowers submitted complaints to the Bureau highlighting:
- Prepayment Stumbling Blocks: Since options to refinance high-rate private student loans are limited, many consumers attempt to pay off their loans in order to reduce the amount of interest owed over the life of the loan. But many consumers express confusion about how to pay off their loans early. For example, borrowers complained that servicers applied their payments in excess of the amount due across all their loans, not to the highest-interest rate loan that they would prefer to pay off first.
- Partial Payment Snags: When borrowers have multiple loans with one servicer and are unable to pay their bill in full, many servicers instruct borrowers to make whatever payment they can afford. Many complaints described how servicers often divide up the partial payment and apply it evenly across all of the loans in their account. This maximizes the late fees charged to the consumer, and it can exacerbate the negative credit impact of a single late payment.
- Servicing Transfer Surprises: When borrowers’ loans are transferred between servicers, borrowers say they experience lost paperwork, processing errors that result in late fees, and interruptions of routine communication, such as billing statements. Consumers complained that payment-processing policies can vary depending on the servicer. And, consumers said when they make decisions on the previous servicer’s practices, they can get penalized.
The post CFPB To Oversee Student Loan Servicers appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.
Sometimes debtors just need to face the facts when it comes to throwing in the towel on their finances. You may have been trying to make payments or find ways to make your money stretch in an effort to avoid filing because of silly misconceptions about why you should avoid it. It is possible you [...]
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