Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 02, 2013 Electric Car Maker Files for Bankruptcy Protection A Tobin Tax, Bankruptcy Style Gay Couple’s Bankruptcy Filing Challenges DOMA

A Tamaroa, Illinois man was recently sentenced to three years’ probation for concealing assets when he filed bankruptcy in 2009.  David E. Woodside, 37, pled guilty to the charge after he waived an indictment by a federal jury back in December 2012.  The United States Attorney who worked on the case, Stephen R. Wigginton, says [...]

Keep Property Without Signing Reaffirmation Agreement
When you file a chapter 7 bankruptcy, you will have the option of reaffirming your secured debts.  The most common reaffirmation is done on a car loan.  Many of my clients have questions about reaffirmation agreements; and whether it is in their best interests to sign a reaffirmation agreement.
What Is A Reaffirmation Agreement?

        Last week, I gave an update on the status of foreclosure mediation ordinances in St. Louis City and St. Louis County that are currently being challenged in the courts by lenders in Missouri. On the other side of the river in Illinois, the Illinois Supreme Court has adopted new rules allowing its courts to [...]

A borrower who is establishing credit or has less than perfect credit may have a cosigner help them obtain a loan.  A cosigner agrees to pay outstanding debt when the borrower is unable to make payments.  It is common to have a cosigner present when applying for a loan on a vehicle, student loan, or [...]

Saw three couples this month who needed to file bankruptcy, because they were getting sued–garnished in one case–by the second mortgage after a short sale.
It was surprising that they were surprised.   At the peak of the crisis, for or five years ago, second mortgages would take what they could get at a short sale and let the rest of it go.  But they don’t often do that anymore.  (At least not without intense negotiation.  I’ve seen it once in the last year.)

Getting Sued After Short Sale? Getting sued after a short sale is highly probable.  Saw three couples this month who needed to file bankruptcy, because they were getting sued–garnished in one case–by the second mortgage after a short sale. It was surprising that they were surprised.   At the peak of the crisis, four or [...]The post Getting Sued After a Short Sale? appeared first on Robert Weed.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 30, 2013 Kelly Rutherford Faces Bankruptcy During Expensive Custody Battle Kodak Spinoffs Clear the Path for Emergence From Bankruptcy Supreme Court won’t hear Charter Communications bankruptcy case

Hiding assets and personal property when filing bankruptcy not only jeopardizes the outcome of your case, you may face criminal prosecution and your debt may not get discharged.  Not withholding details about personal property cannot be stressed enough as doing this may hurt your chances of discharging debt in subsequent bankruptcies.  Many debtors fear they [...]

Eighty percent of success is showing up, according to Woody Allen. So, too, in matter concerning debt collection lawsuits.
You owe a debt to a credit card company. You fall behind, and the credit card company sells the debt to some other company.
Happens all the time, don’t look so shocked.