Bankruptcy filing – or the prospect of it – usually puts Wynn at Law LLC clients in full-out panic mode. One of the most alarming, last-ditch, hail-Mary ideas coming from this desperation is to cash out a retirement plan to avoid bankruptcy court. In some cases, people can ‘borrow’ against their company retirement plan, usually a 401(k). This is as dangerous as cashing out to cover the financial struggle.
Don’t. Touch. This. Money.

Subprime vehicle loans – according to an article in Automotive News and Bloomberg “about a third of the risky car loans that are bundled into bonds are considered “deep subprime,” a level that has surged since 2010 and is translating to higher delinquencies on the

Robert Weed has the best rate of bankruptcy dismissed in Northern Virginia Just finished checking on the number of my law firm bankruptcy cases dismissed the first three months of this year. (“Dismissed” means thrown out; the opposite is “discharged” which means successfully completed.)   We had 4 dismissals and 90 cases filed—that’s 4.4%.

Robert Weed has the best rate of bankruptcy dismissed in Northern Virginia Just finished checking on the number of my law firm bankruptcy cases dismissed the first three months of this year. (“Dismissed” means thrown out; the opposite is “discharged” which means successfully completed.)   We had 4 dismissals and 90 cases filed—that’s 4.4%. One […]

Robert Weed has the best rate of bankruptcy dismissed in Northern Virginia Just finished checking on the number of my law firm bankruptcy cases dismissed the first three months of this year. (“Dismissed” means thrown out; the opposite is “discharged” which means successfully completed.)   We had 4 dismissals and 90 cases filed—that’s 4.4%. One […]

Credit Reports to Exclude Certain Negative Information, Boosting FICO Credit Scores,
by AnnaMaria Andriotis at The Wall Street Journal

Last year, California-based clothing retailer Pacific Sunwear, better known by its shortened name PacSun, drastically reduced its debt from $88 million to just $30 million by giving stock to senior lender Golden Gate Capital as part of a Chapter 11 reorganization plan: a debt reduction of $58 million.

The Bankruptcy Code puts specific demands upon the debtor seeking to eliminate debt through a bankruptcy filing. It is important for clients to realize that these demands are inherent in the bankruptcy code and are not needless demands from their bankruptcy attorney. In many cases, debtors will wrongfully assume that the demand is coming from+ Read More

In February, the FBI reported pastor Karl Robinson was sentenced to four years in federal prison for his role in a mortgage rescue scam that falsely promised California homeowners they could stop foreclosure and stay in their houses by paying fees for “experienced consultants.” Unfortunately for the victims of Robinson’s scam, his financial promises were too good to be true, and their money was wasted on useless, fraudulent services. However, there is a way to stop foreclosure that doesn’t involve empty promises or criminal activity: filing for Chapter 13 bankruptcy in California.

One of the oddities of Wynn at Law, LLC’s flow of phone calls is this:  A potential client will call within seconds of getting a $180 speeding ticket, but will wait to call until well into buying a $300,000 home. The stakes are so much higher in the latter, and in fact, a real estate attorney on the front end can end up saving you money. Here are four ways how: