Articles from Robert Weed

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Reaffirmation: It’s like an episode of Law and Order.

Submitted by Anonymous (not verified) on Tue, 07/16/2019 - 23:33

“What was that? Law and Order?” Today I was at the bankruptcy court asking the Judge to approve two credit card reaffirmations. One for a little more than $500; one for a little less. Both because my clients had a good relationship going back years with their credit union. So they wanted to keep them.  […]

Credit scores after bankruptcy are close to national average, in just three years

Submitted by Anonymous (not verified) on Sat, 07/13/2019 - 22:49

I just finished a survey of people who filed bankruptcy with me three years ago. Here’s one big thing I found out: credit scores three years after bankruptcy are almost the national average.   Right about half of the people who filed bankruptcy with me three years ago have a score above 670. A 670 score […]

Three months later, Mike’s After Bankruptcy Credit Score is 681

Submitted by Anonymous (not verified) on Sun, 11/18/2018 - 21:50

Three months later, Mike’s After Bankruptcy Credit Score is 681 Last Friday, Mike sent me this screenshot, showing his after bankruptcy credit score is 681.    A 681 credit score is, barely, considered a “good” score by Experian and CreditKarma.  Mike had filed bankruptcy with me in April and it was approved and done in September.  […]

How a cheap car payment can help you on the bankruptcy means test.

Submitted by Anonymous (not verified) on Sun, 08/05/2018 - 18:42

How a cheap car payment can help you on the bankruptcy means test. The 2005 Bankruptcy law, known BAPCPA or sometimes BARF, was designed to make bankruptcy much more painful for families making over the average income in each state.  For Virginia, in the summer of 2018, that’s $103,549 for a family of 4. Or […]

Another Family Wastes Thousands with Freedom Debt Relief

Submitted by Anonymous (not verified) on Sat, 07/14/2018 - 21:31

Another Fairfax County Family Wastes Thousands with Freedom Debt Relief. I filed a bankruptcy case this week for Alexander and Alina yesterday.   They had been enrolled with Freedom Debt Relief for over five years–the longest enrollment I ever heard of. And according to Freedom Debt Relief, they had only four monthly payments to go […]

After Bankruptcy, get a credit card

Submitted by Anonymous (not verified) on Tue, 05/08/2018 - 00:12

After bankruptcy, get a credit card. Get a couple. Getting back to good credit is one of the five ways bankruptcy gives you a new start. The bankruptcy itself helps quite a bit, because the old debts stop chasing you. But to really improve your credit score you have to get and use two or […]

After Bankruptcy, check your credit score

Submitted by Anonymous (not verified) on Fri, 04/27/2018 - 02:07

After Bankruptcy, check your credit score Most people have a credit score of about 620 a couple months after bankruptcy.  That’s from a study by the Philadelphia Federal Reserve Bank. a few years ago.  (I saved the complete study here.)  And here’s the full size  Chart that shows how scores recover.   What’s your after bankruptcy […]

For your bankruptcy hearing, you’ll need your Social Security Card

Submitted by Anonymous (not verified) on Fri, 04/27/2018 - 00:03

Everyone is required to bring their social security card to their bankruptcy hearing. And a lot of people have lost theirs over the years.   Virginia was recently added to the states where you can use your drivers license and apply on the internet to get a replacement card sent to you.   You don’t […]

Scott Tucker King of Indian Tribe Payday Loans Fined a Billion and Convicted

Submitted by Anonymous (not verified) on Sun, 04/15/2018 - 17:46

As a bankruptcy lawyer, I see many hard working people who fall prey to these internet payday loans. And they are afraid if they stop paying the loans that somehow the consumer had done something illegal.  So I’m happy to have proof of what I tell them. In most cases it’s the internet payday loan […]

Still garnished after 15 Years!

Submitted by Anonymous (not verified) on Sun, 03/11/2018 - 17:36

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 […]

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