Chapter 13 bankruptcy is complicated. They are difficult cases from the standpoint of debtors, creditors, bankruptcy attorneys and at times the bench. For this reason, things don’t always proceed smoothly the first time through the process. Like anything else, there is a learning curve to doing things. For debtors, the learning curve can be drastic.+ Read More+ Read More

If you have never heard the term “debt buyer,” you might be amazed to learn that large companies exist solely for the purpose of buying and selling consumer debt. These companies buy and sell billions of dollars of debt.

Upcoming Webinar Series: Collect Your Money in Bankruptcy
Attorneys Scott Chernich and Patricia Scott will be presenting a FREE webinar series this fall titled “Collect Your Money in Bankruptcy.” This three-part series will cover what to do as a creditor if you receive a bankruptcy notice in a Chapter 7, Chapter 11 or Chapter 13 bankruptcy. Read More ›

While it is typically true that there are generally three options available to debtors in a chapter 7 bankruptcy with regard to their autos, there may in fact be a fourth option. In a chapter 7 bankruptcy case the debtor has the ability to reaffirm, redeem or surrender and auto. A fourth option which seems+ Read More

I was fortunate enough to be invited for a short interview on a local radio station.  This is just an audio program, but it is only 12 minutes long.  I hope the information is informative.

Radio Interview with Attorney and Law Professor - Diane L. Drain

Fred’s after bankruptcy credit score is 707 Fred M was a small business owner.  Because his business was dragged down by the recession, he has $50,000 in credit cards that had gone bad. Last fall Bank of America sent him a warrant-in-debt in a $17,000 credit card.

Your mom told you to be careful when choosing your friends.  What your mother did not tell you is that “friending” someone on social media will link their reputation to you.  Sounds like a crazy woman is writing this blog, right?  No, just a very cautious one who now understands that who you associate with on-line can affect not only your reputation, but also your ability to obtain credit.  We all know that employers look at our social media as part of their “due diligence” before offering you that sorely needed new job.  Also, that current employers fire employees because of the social med