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In California, filing for bankruptcy in certain instances may prevent a tenant from being evicted. Bankruptcy is a means by which people can discard debt or make a plan to repay debts to creditors. Filing a petition for bankruptcy will not always protect a tenant from eviction, so it is important to understand the possible consequences of using a measure as drastic as bankruptcy to stay an eviction. If you require assistance determining whether filing bankruptcy is the right choice when facing eviction, contact the Roseville Chapter 13 bankruptcy attorneys at The Bankruptcy Group today.
Types of Bankruptcy in CA
Chapter 7 bankruptcy allows for the debtor to liquidate his or her assets and use the money from that liquidation to pay off creditors. Under Chapter 7 a debtor will likely receive a rapid discharge of certain debts, although not without experiencing consequences such as a poor credit score.
Chapter 7 bankruptcy is rarely the most helpful option for an individual who wants to avoid eviction in California. Chapter 13 bankruptcy is generally more beneficial to a tenant who is trying to avoid being evicted.
Chapter 13 bankruptcy is geared towards debtors who have a regular source of income, and compared to Chapter 7, allows greater opportunity to possibly retain an asset like their home. A debtor in a Chapter 13 bankruptcy proposes a plan to creditors to repay their debts over a period of time, usually three to five years. As long the bankruptcy court approves the plan, a debtor can keep their home and make payments based on their anticipated income over the duration of the repayment plan. However, it is critical to adhere to the plan and stay current on all payments.
Unlike Chapter 7, Chapter 13 bankruptcy does not allow for debtors to immediately discharge their debts a few months after filing for bankruptcy.
Can Filing Bankruptcy Help Renters with Eviction?
If a landlord properly gives a tenant the required notice to vacate a property after the expiration of the lease and the tenant does not comply, a landlord can move to evict the tenant. To begin eviction proceedings in California, a landlord must file an unlawful detainer lawsuit in superior court.
If a tenant files for bankruptcy while an unlawful detainer lawsuit is pending, they are generally entitled to an immediate automatic stay, or delay of the pending action. An automatic stay is generally imposed against certain creditors, like the landlord, who want to start an action against a debtor or the debtor’s property.
Once an automatic stay has been imposed on the tenant’s creditors, it will halt proceedings for an eviction and allow the tenant to remain in their home. If a tenant can file for bankruptcy prior to the landlord commencing an unlawful detainer lawsuit the automatic stay would generally operate to prevent the landlord from filing the action altogether.
Limitations of the Automatic Stay
While a tenant’s filing of bankruptcy may hinder eviction proceedings, there are a few options a landlord could take to ignore the automatic stay and continue the eviction proceedings. For example, a landlord may request relief from an automatic stay and the bankruptcy court may lift the automatic stay if the landlord can show that he or she is entitled to such relief.
The automatic stay would not prevent a landlord from enforcing a judgment obtained prior to the tenant petitioning for bankruptcy. Additionally, a tenant cannot be protected by an automatic stay if the landlord’s eviction action is based on the tenant doing harm to the rental property, or the tenant using illegal controlled substances on the property.
A bankruptcy case can also be dismissed for various reasons, such as the tenant filing in bad faith or neglecting to pay fees, which would remove any delays or protections associated with the automatic stay (or a repayment plan in Chapter 13).
Depending on these and other factors, a timely filing of bankruptcy can potentially halt eviction proceedings in California. However, filing for bankruptcy may not always have the desired effect a person may want. There are other options a landlord may take to continue eviction proceedings which would leave a tenant in a tight spot. Even if a landlord could not get the bankruptcy court to overturn the filing and continue the eviction, the automatic stay granted by filing for bankruptcy will eventually lapse and the tenant would have to continue to fight the eviction.
While filing for Chapter 13 bankruptcy may be the best choice for an individual who seeks to keep their home, it is not without its pitfalls. A debtor who files for Chapter 13 bankruptcy must have a regular income, sufficient income to pay off their unpaid debts, and sufficient income to continue paying future mortgage payments.
Roseville Bankruptcy Attorneys for Homeowners and Renters Facing Eviction or Foreclosure
This is a lot for a person to think about when facing an eviction and likely dealing with other issues in their lives as well. This is where The Bankruptcy Group can help you. The Bankruptcy Group have a staff of experienced attorneys and legal professionals who have spent years working in the field of bankruptcy and real estate to get favorable results for their clients.
Before you make a decision as difficult as filing for bankruptcy, take the time to consult with our legal professionals. Contact our Roseville bankruptcy lawyers today at (800) 920-5351 for a free consultation.
The post Can Bankruptcy Prevent an Eviction in California? appeared first on The Bankruptcy Group, P.C..
Taxi Limousine Commission (TLC) Medallion Sales Data from February 2018The February 2018 sales data is out from the TLC. When we filter out sales from foreclosure and estate sales, sales for New York City taxi medallions ranged from $195,000 to $400,000, with sales between those figures. In this author’s opinion, the median sales price and fair market value of taxi medallions appears to be $197,500. It will be interesting to review the next few months of TLC sales data to see if $197,500 is a new floor or merely a pause in the continuing decline of the price of taxi medallion. This author believes that the new laws and fees that have been proposed by various elected officials, if enacted, will negatively impact Uber and other ride hailing services and potentially increase the value of future taxi medallion sales. Jim Shenwick Price Type of Sale Number of Medallions $750,000 Foreclosure 2 $750,000 Foreclosure 2 $750,000 Foreclosure 2 $750,000 Foreclosure 2 $750,000 Foreclosure 2 $700,000 Foreclosure 2 $420,000
2 $400,000
2 $400,000 Foreclosure 1 $400,000
1 $375,000 Estate 2 $360,000
2 $350,000
2 $195,000
1 $180,000 Foreclosure 1 $170,000 Foreclosure 1 $160,000 Estate 1 $125,000 Foreclosure 1 $0 Family 1 $0 Estate 1
As many of you know, the representation of taxi medallion owners has become a sizeable portion of our practice. This month, we’d like to discuss chapter 13 bankruptcy as a potential option for “underwater” taxi medallion owners (where the value of the taxi medallion securing the loan is less than the balance outstanding on the loan).
In contrast to a chapter 7 (liquidation) bankruptcy, a chapter 13 bankruptcy is intended to provide an adjustment of debts, and is best suited to individuals who want to keep property (such as a house and/or a taxi medallion) after their bankruptcy case is concluded. However, chapter 13 cases are more complex than chapter 7 and less expensive and less complex than chapter 11 and come with some important limitations that potential debtors should be aware of:1. 1. There is a limit on how much debt a chapter 13 debtor may have. Under §109(e) of the Bankruptcy Code, only an individual with regular income that owes, on the date of the filing of the petition, noncontingent, liquidated, unsecured debts of less than $394,725 and noncontingent, liquidated, secured debts of less than $1,184,200 may be a debtor under chapter 13. These debt limits are adjusted every three years and will be adjusted again in April 2019.
3 2. Most chapter 13 repayment plans are between three years and five years in length. The length (or commitment period) of a chapter 13 plan depends on a potential debtor’s income and the amount of time needed to pay off the debts included in the plan. Since BAPCPA was enacted in 2005, all debtors above the median income for their state and family size must complete a “means test” to determine their eligibility for bankruptcy. Chapter 13 debtors need to complete two forms, the “Statement of Your Current Monthly Income and Calculation of Commitment Period” (to determine the debtor’s current monthly income and the length of the plan) and “Chapter 13 Calculation of Your Disposable Income.” (to determine how much disposable income the debtor has to make plan payments).
3. The proposed plan must be feasible. Feasibility is a requirement for plan confirmation. Section 1325(a)(6) of the Bankruptcy Code provides that "the court shall confirm a plan if ... the debtor will be able to make all payments under the plan and to comply with the plan." In other words, can the debtor make all the proposed payments to creditors over the length of the plan? This standard can usually be satisfied if the debtor has a regular source of income such as a job or benefit payments.
3 4. The chapter 13 debtor must perform a “liquidation analysis” to ensure that creditors are treated fairly. Section 1325(a)(4) of the Bankruptcy Code provides that the court shall confirm a plan if “the value, as of the effective date of the plan, of property to be distributed under the plan on account of each allowed unsecured claim is not less than the amount that would be paid on such claim if the estate of the debtor were liquidated under chapter 7 of this title on such date.” This is also known as the “best interests of creditors” test. The proposed chapter 13 plan must pay unsecured creditors (i.e. credit card accounts and loans with no collateral) one dollar more than they would receive in chapter 7.
5. Finally, chapter 13 bankruptcy can also be used to transfer an underwater taxi medallion back to the bank that financed it and allow the debtor to keep his or her house and other property.
If the taxi medallion owner’s unsecured or secured debt exceed the limits discussed in item 1 above, then an out of court workout, settlement (negotiation with the creditor) or a chapter 7 bankruptcy case are other options. For more information about chapter 13 and other ways to settle your debts AND keep your taxi medallion, please contact Jim Shenwick.
If you have been a victim of identity theft, you can file bankruptcy but you need to be prepared for potential complications.Identity theft is a big problem in 2018 and a number of large retailers and even credit bureaus have been hacked. Personal and financial information about millions of Americans is available for sale on the “dark web” and criminals use this stolen data to open credit card accounts, sign for personal loans, and even buy houses and cars. You will not know that there was a problem at all until the bills start to arrive.I have personally been a victim of identity theft twice. One time, a thief got hold of my credit card number and charged $5,000 to a custom suit maker in Hong Kong. In another instance, a fraudster hacked my American Express account and purchased (and picked up) a high end desktop Mac. In both of these situations the credit card company accepted my fraud report and canceled all charges.If you find yourself with identity theft problems, you will discover that fixing the problem can take a lot of time and effort. Banks and other lenders may not believe you and will pursue collection. The fraudulent accounts in your name may be sold to collection agencies who don’t care that you are alleging identity theft. You may find yourself with lawsuits, endless collection calls and damaged credit.Bankruptcy as an Option to Address Identity Theft DebtsYou may decide to use bankruptcy as the tool to address identity theft problems. Bankruptcy may be an attractive option if you have other, legitimate, debts that you need to deal with as well.When you file bankruptcy, you will force all of your creditors – both legitimate and those arising from identity theft – to deal with you at one place and at one time. If your case goes through to discharge, you will be forever clear of creditor claims.On the other hand, your creditors have the right to object to either the discharge of a specific debt or to your bankruptcy as a whole. These types of objections are rare but if the amount at issue is large, creditors will file objections.If you find yourself facing bankruptcy objections you will have to incur the cost of paying a lawyer to defend you. This may seem very unfair but if a creditor initiates bankruptcy litigation you need to respond.Always File Police Reports if Your Identity has been StolenMy experience has been that you can avoid finding yourself in litigation by taking proactive and documented steps to report the identity theft and to file police reports for every instance of identity theft. You cannot sit back and assume that just because you did nothing wrong, you won’t end up owing money.If a creditor’s lawyer contacts me prior to filing a bankruptcy objection and I can provide that lawyer with copies of police reports, letters to creditors and credit bureaus and other evidence that you are not at fault, there is a much better chance that the creditor’s attorney will recognize that he is likely to lose his objection to your bankruptcy and that he will advise his client to back down.If you have been a victim of identity theft and think bankruptcy might be an option to deal with this problem, please reach out to me – I’d be happy to help.Additional Reading:How to Request a Credit Freeze from the Credit BureausThe post Can You File Bankruptcy if You Have Been the Victim of Identity Theft? appeared first on theBKBlog.
If you have been a victim of identity theft, you can file bankruptcy but you need to be prepared for potential complications.Identity theft is a big problem in 2018 and a number of large retailers and even credit bureaus have been hacked. Personal and financial information about millions of Americans is available for sale on the “dark web” and criminals use this stolen data to open credit card accounts, sign for personal loans, and even buy houses and cars. You will not know that there was a problem at all until the bills start to arrive.I have personally been a victim of identity theft twice. One time, a thief got hold of my credit card number and charged $5,000 to a custom suit maker in Hong Kong. In another instance, a fraudster hacked my American Express account and purchased (and picked up) a high end desktop Mac. In both of these situations the credit card company accepted my fraud report and canceled all charges.If you find yourself with identity theft problems, you will discover that fixing the problem can take a lot of time and effort. Banks and other lenders may not believe you and will pursue collection. The fraudulent accounts in your name may be sold to collection agencies who don’t care that you are alleging identity theft. You may find yourself with lawsuits, endless collection calls and damaged credit.Bankruptcy as an Option to Address Identity Theft DebtsYou may decide to use bankruptcy as the tool to address identity theft problems. Bankruptcy may be an attractive option if you have other, legitimate, debts that you need to deal with as well.When you file bankruptcy, you will force all of your creditors – both legitimate and those arising from identity theft – to deal with you at one place and at one time. If your case goes through to discharge, you will be forever clear of creditor claims.On the other hand, your creditors have the right to object to either the discharge of a specific debt or to your bankruptcy as a whole. These types of objections are rare but if the amount at issue is large, creditors will file objections.If you find yourself facing bankruptcy objections you will have to incur the cost of paying a lawyer to defend you. This may seem very unfair but if a creditor initiates bankruptcy litigation you need to respond.Always File Police Reports if Your Identity has been StolenMy experience has been that you can avoid finding yourself in litigation by taking proactive and documented steps to report the identity theft and to file police reports for every instance of identity theft. You cannot sit back and assume that just because you did nothing wrong, you won’t end up owing money.If a creditor’s lawyer contacts me prior to filing a bankruptcy objection and I can provide that lawyer with copies of police reports, letters to creditors and credit bureaus and other evidence that you are not at fault, there is a much better chance that the creditor’s attorney will recognize that he is likely to lose his objection to your bankruptcy and that he will advise his client to back down.If you have been a victim of identity theft and think bankruptcy might be an option to deal with this problem, please reach out to me – I’d be happy to help.Additional Reading:How to Request a Credit Freeze from the Credit BureausThe post Can You File Bankruptcy if You Have Been the Victim of Identity Theft? appeared first on theBKBlog.
The Good News in the 2018 Tax Law:
After January 1, 2018 borrowers whose student loans are forgiven due to “total and permanent disability” no longer have to pay federal income taxes on those forgiven loans. Anyone who is permanently disabled, including military veterans, will no longer be hit with a tax bill when their student loans are forgiven (referred to as forgiveness of debt).
The Bad News out of the 2018 Tax Law:
The bad news is that the change, part of a massive overhaul of the tax code spelled out by the Tax Cuts and Jobs Act, is not retroactive and the borrowers will still have to pay the taxes (as ordinary income).
The U.S. Government Accountability Office, the Department of Education forgives about $2 billion in loans owed by disabled borrowers every year.
Who can be considered Disabled?
Veterans who can’t work because of service-related injuries aren’t the only disabled borrowers who can qualify for federal student loan forgiveness. Anyone who’s receiving disability benefits from the Social Security Administration, or has been certified as “totally and permanently disabled” by a physician, may qualify.
Seniors Social Security Seized to Pay Student Loans:
Issues for older borrowers (age 50 and older) who default on federal student loans and must repay that debt with a portion of their Social Security benefits often have held their loans for decades and had about 15 percent of their Social Security benefit payment withheld.
Related posts:
Life in the Sweatbox for Students
Do Student Loans Die With You?
Tool to Help Navigate Student Loan Repayment Programs
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About the Author:
Diane L. Drain is a well known and respected Arizona bankruptcy attorney. She is an expert in both consumer bankruptcy and Arizona foreclosure. Since 1985 she has been a dedicated advocate for her clients and spokesperson for Arizona citizens. As a teacher and retired law professor, Diane believes in offering everyone, not just her clients, advice about the Arizona bankruptcy and foreclosure laws. She is also a mentor to hundreds of Arizona attorneys. 
I would be flattered if you connected with me on GOOGLE+
*Important Note from Diane: Everything on this web site is available for educational purposes only, is not intended to provide legal advice nor create an attorney client relationship between you, me, or the author of any article. Any information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state.*
The post Disabled Can Now Avoid Taxes When Student Loans Forgiven appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.
Fifteen years later, Lilly is still getting garnished! Lilly came to see me in my Sterling office last Friday. When she was much younger, she got a high interest car loans from Ford Motor Credit. The car got repossessed, and in 2003, Ford got a judgment against her for $8,051.35. Plus $1,207.70 for Ford’s lawyer […]
The post Still garnished after 15 Years! by Robert Weed appeared first on Robert Weed.
If you have questions about filing for bankruptcy and in search of a Bankruptcy Lawyer in Portland Oregon, Attorney Tom McAvity has extensive knowledge of bankruptcy law and can provide sound legal counsel. To answer your bankruptcy FAQ, we can review your financial needs in a personal consultation to ensure you understand your legal options. For individuals in Portland, OR, our team can help you design financial goals suited to your unique circumstances and determine if bankruptcy is right for you.
What Can Bankruptcy Do for Me?
Bankruptcy can eliminate any legal obligation requiring you to pay all, or most of your debts. In some circumstances, it can stop the foreclosure of property by issuing an “automatic stay,” protecting your car or home. Bankruptcy can also ensure your utilities remain on, while you catch up on any missed payments. Filing for bankruptcy can put an end to wage garnishments and prevent creditors from attempting to collect unpaid balances.
Bankruptcy can eliminate any legal obligation requiring you to pay all, or most of your debts.
Is There Anything Bankruptcy Cannot Help Me With?
Filing for bankruptcy will not discharge debts that bankruptcy law singles out for special treatment. You must continue to pay child support, alimony, some student loans, restitution orders, and criminal fines even after filing for bankruptcy.
What Type of Bankruptcy Am I Able to File for?
Chapter 7 Bankruptcy: This option is appropriate for those with low incomes or for individuals with extensive expenses. Also called “straight” or “liquidation” bankruptcy, Chapter 7 allows you to sell certain types of property to pay creditors. Chapter 11 Bankruptcy: Also known as “reorganization,” Chapter 11 bankruptcy is designed for businesses with very large debts. This option enables organizations to pay debt over time. Chapter 12 Bankruptcy: This form of bankruptcy provides debt relief for family farmers or fishermen. It enables these individuals to restructure their expenses to avoid foreclosure.
Chapter 13 Bankruptcy: This type of bankruptcy is best for individuals with a regular income. An individual can design an installment plan to pay debts back using their current source of income.
Will I Have to Appear in Court?
In most bankruptcy cases, you will be required to meet with creditors and the bankruptcy trustee to address financial information and answer questions. You will only be required to appear in court if you need to dispute a debt.
What Happens to Anyone Who Has Co-Signed On My Loan?
Unfortunately, if a friend or family member has co-signed on a loan, he or she may be liable for your debt if you file for bankruptcy. However, these circumstances may be mitigated by filing for Chapter 13 bankruptcy.
Will Bankruptcy Help with My Student Loans?
Generally, students will not be affected in bankruptcy. However, there are two exceptions to this rule:
If a student loan is not insured or guaranteed by a unit of the government, the loan may be discharged. If paying back the loan will “impose an undue hardship on you and your dependents,” then the student loan may be discharged.
Tom McAvity can review the details of your student loans to determine whether these circumstances apply to you.
How Can I Make Creditors Stop Calling Me Regarding My Past Due Bills?
When you file for bankruptcy, all creditors and bill collectors must stop collection efforts entirely once they are aware you have filed. If any creditor continues to try to collect after they have been made aware of your bankruptcy, they may be sanctioned in court.
Contact Us Today to find your Bankruptcy Lawyer in Portland Oregon
While dealing with financial complications can be overwhelming, Northwest Debt Relief Law Firm can help you manage your unique circumstances. If you have additional questions and in need of a Bankruptcy Lawyer in Portland Oregon, contact Tom McAvity by calling (503) 828-0964 to schedule your personal consultation.
The post Answers To Common Bankruptcy FAQ appeared first on Portland Bankruptcy Attorney | Northwest Debt Relief.
If you have questions about filing for bankruptcy and in search of a Bankruptcy Lawyer in Portland Oregon, Attorney Tom McAvity has extensive knowledge of bankruptcy law and can provide sound legal counsel. To answer your bankruptcy FAQ, we can review your financial needs in a personal consultation to ensure you understand your legal options. For individuals in Portland, OR, our team can help you design financial goals suited to your unique circumstances and determine if bankruptcy is right for you.
What Can Bankruptcy Do for Me?
Bankruptcy can eliminate any legal obligation requiring you to pay all, or most of your debts. In some circumstances, it can stop the foreclosure of property by issuing an “automatic stay,” protecting your car or home. Bankruptcy can also ensure your utilities remain on, while you catch up on any missed payments. Filing for bankruptcy can put an end to wage garnishments and prevent creditors from attempting to collect unpaid balances.
Bankruptcy can eliminate any legal obligation requiring you to pay all, or most of your debts.
Is There Anything Bankruptcy Cannot Help Me With?
Filing for bankruptcy will not discharge debts that bankruptcy law singles out for special treatment. You must continue to pay child support, alimony, some student loans, restitution orders, and criminal fines even after filing for bankruptcy.
What Type of Bankruptcy Am I Able to File for?
Chapter 7 Bankruptcy: This option is appropriate for those with low incomes or for individuals with extensive expenses. Also called “straight” or “liquidation” bankruptcy, Chapter 7 allows you to sell certain types of property to pay creditors. Chapter 11 Bankruptcy: Also known as “reorganization,” Chapter 11 bankruptcy is designed for businesses with very large debts. This option enables organizations to pay debt over time. Chapter 12 Bankruptcy: This form of bankruptcy provides debt relief for family farmers or fishermen. It enables these individuals to restructure their expenses to avoid foreclosure.
Chapter 13 Bankruptcy: This type of bankruptcy is best for individuals with a regular income. An individual can design an installment plan to pay debts back using their current source of income.
Will I Have to Appear in Court?
In most bankruptcy cases, you will be required to meet with creditors and the bankruptcy trustee to address financial information and answer questions. You will only be required to appear in court if you need to dispute a debt.
What Happens to Anyone Who Has Co-Signed On My Loan?
Unfortunately, if a friend or family member has co-signed on a loan, he or she may be liable for your debt if you file for bankruptcy. However, these circumstances may be mitigated by filing for Chapter 13 bankruptcy.
Will Bankruptcy Help with My Student Loans?
Generally, students will not be affected in bankruptcy. However, there are two exceptions to this rule:
If a student loan is not insured or guaranteed by a unit of the government, the loan may be discharged. If paying back the loan will “impose an undue hardship on you and your dependents,” then the student loan may be discharged.
Tom McAvity can review the details of your student loans to determine whether these circumstances apply to you.
How Can I Make Creditors Stop Calling Me Regarding My Past Due Bills?
When you file for bankruptcy, all creditors and bill collectors must stop collection efforts entirely once they are aware you have filed. If any creditor continues to try to collect after they have been made aware of your bankruptcy, they may be sanctioned in court.
Contact Us Today to find your Bankruptcy Lawyer in Portland Oregon
While dealing with financial complications can be overwhelming, Northwest Debt Relief Law Firm can help you manage your unique circumstances. If you have additional questions and in need of a Bankruptcy Lawyer in Portland Oregon, contact Tom McAvity by calling (503) 828-0964 to schedule your personal consultation.
The post Answers To Common Bankruptcy FAQ appeared first on Portland Bankruptcy Attorney | Northwest Debt Relief.
There is a fairy tale that a good credit score will get you a better life.
Fairy tales are not the way to make adult decisions.
We know that most fairy tales are fables designed to teach children a healthy respect for rules and society’s expectation. Some fairy tales were written to scare children to stay away from “bad places”, while others teach children to trust their common sense.
Is there truth behind the fairy tale that a good credit report will open the door to a better home (therefore better schools) and a better job? To some extent the answer is ‘yes’, but for the most part that is false advertising promoted by creditors, banks and, sometimes, our government. Their goal is to have everyone spend more money which equals higher profits, growth for the creditor and more taxes for the government.
Trying to get a good credit score can be like kissing a frog.
Is getting a good credit score like kissing a frog?
Where most of us go wrong is assuming that taking on debt will automatically lead to an increase credit score. You have to pay the debt in order for the credit score to improve. If life happens (you lose your job, are injured or divorced) it will mean you cannot pay the new debt which will automatically mean your credit score will be lowered. A lower credit score equals (1) higher interest rate for EVERYTHING (house, car and credit cards), (2) your insurance costs will increase, (3) you will have a harder time finding a place to live in a good neighborhood (good neighborhoods usually mean good schools), (4) harder to find or keep a good job (jobs now use credit scores as part of hiring or retaining employees), (5) plus so much more than I can cover here.
The point: Credit scores are important, but NEVER take out debt for the sole purpose of increasing your credit score.
Now if you are a multi-millionaire then you rarely worry about paying debts, but the rest of us live in the real world and must be concerned about feeding our families and getting to work in a dependable vehicle.
Why do so many believe that a credit score is a way of gauging their self-worth?
One woman refers to her credit score as “the most important thing in my life, right now, well besides my babies,” as “that darned thing is destroying my life,” and as “my ticket to good neighborhoods and good schools for my kids.”
Where I am coming up with all this? Thirty, plus years of working in the bankruptcy world has opened my eyes to the abuses suffered on the young, lower and middle class by the business and banking worlds. I suggest you read Duke Law Professor Sara Sternberg Greene’s paper The Bootstrap Trap. This paper has some great insights about the problems that arise when low-income households try to live the life they see portrayed on TV and in romance novels.
Debt relief scams, pay day loans, title loans and most student loans are NEVER a way to help stabilize your income and protect your future. Until we learn how to control our finances (no you do not need the latest I-Phone), how are we going to teach our children? Please stop letting TV ads dictate what you should buy and how you should live. Trust yourself – USE YOUR COMMON SENSE.
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About the Author:
Diane L. Drain is a well known and respected Arizona bankruptcy attorney. She is an expert in both consumer bankruptcy and Arizona foreclosure. Since 1985 she has been a dedicated advocate for her clients and spokesperson for Arizona citizens. As a teacher and retired law professor, Diane believes in offering everyone, not just her clients, advice about the Arizona bankruptcy and foreclosure laws. She is also a mentor to hundreds of Arizona attorneys.
I would be flattered if you connected with me on GOOGLE+
*Important Note from Diane: Everything on this web site is available for educational purposes only, is not intended to provide legal advice nor create an attorney client relationship between you, me, or the author of any article. Any information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state.*
The post Help – My Credit Score is Destroying My Life appeared first on Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney.
Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.