Bankers Hate Debt Settlement Outfits
Bankers hate debt settlement. The seven biggest groupts of bankers all sent a letter to Congress in February 2026 asking for stronger regulation of the outfits doing debt settlement. The bankers says that those settlement plans “take years to complete, if ever.”
Now if you are in financial trouble, the bankers are not your friend. So why am I pointing this out?

Watch out for this legal fee trap in Chapter 13
When Nan filed chapter 13 bankruptcy, her mortgage company hit her with a $1225 legal fee. Sadly, almost every home owner in Chapter 13 gets hit with a surprise fee. When you file Chapter 13, your mortgage company will charge you for their lawyer looking over your Chapter 13 plan and filing their court papers,  And usually they will send the bill to you. (On an official form, it looks like this.)

 My law firm is representing a number of jewelry vendors who have sold goods to Saks, prior to their Chapter 11 bankruptcy filing. I am proud to announce that I was quoted in a New York Post article on the Saks Chapter 11 bankruptcy filing article.

 Currently Not Collectible (CNC) Status and Defaulted SBA Loans“Currently Not Collectible” (CNC) status can, in limited cases, be used to temporarily pause collection activity on a defaulted SBA loan. CNC is not an SBA program and is not available immediately after default. It may only be requested once the loan has been charged off, assigned to the SBA, and referred to the U.S.