The Atlanta Journal Constitution ran a front page story on Sunday, April 14 entitled

Sometimes you need to change your thinking to change the outcome.
There’s a saying in Alcoholics Anonymous that goes, “Your best thinking got you here.” In the context of recovery from addiction, the phrase means that your best ideas about a happy life nearly you killed.

Chapter 7 bankruptcy can last anywhere from 100 to 120 days from start to finish.  It basically works like this: once the Chapter 7 bankruptcy case is filed, there is a notice that goes out to all creditors, the debtor and the debtor’s attorney advising of an upcoming meeting called a 341 Meeting of Creditors. + Read MoreThe post How long does the bankruptcy process take? appeared fir

What is Chapter 13 Bankruptcy? Unlike a chapter 7 bankruptcy, where you must sell your assets to pay off creditors, chapter 13 allows you to reorganize your financial life so that you can keep your property. In chapter 13, you create a payment plan to pay off your debts. You submit the plan to the [...]

It happened again this week. The client comes into the consultation smiling broadly. He just needs help with a loan modification, he argues. He doesn't have any other debts. "Look," he says, pointing at his credit report, "it's been charged off!"

Sorry, that's not what it means. A "charge off" is an accounting entry by the lender declaring that the debt is uncollectible, a determination that helps the lender deduct it as a loss against his taxes.

It happened again this week. The client comes into the consultation smiling broadly. He just needs help with a loan modification, he argues. He doesn't have any other debts. "Look," he says, pointing at his credit report, "it's been charged off!"

Sorry, that's not what it means. A "charge off" is an accounting entry by the lender declaring that the debt is uncollectible, a determination that helps the lender deduct it as a loss against his taxes.

On average, a Chapter 13 bankruptcy repayment plan can last anywhere from three to five years. Yet, there are factors to consider in determining how long your case will last since each situation varies.  The amount you pay is based on your monthly income, with similar factors determining the amount of time the debtor commits [...]

Due to a massive federal settlement regarding foreclosure abuse, checks for 4.2 million mortgage borrowers, thousands of them in Oregon and Washington, will soon be in the mail. In most cases the checks will only go a small way towards repairing the harms suffered to date.
The agreement stems from a federal investigation of the robo-signing scandal. Robo-signing was the process that allowed mortgage servicers to foreclose on Oregon and Washington homeowners without properly prepared documents.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 11, 2013 Reports: Fisker Automotive to file for bankruptcy this week Alfacam sees risk of bankruptcy, shares suspended Bankruptcy clouds ‘Girls Gone Wild’ collection path

Bankruptcy may help reduce your vehicle payment but your mortgage payment may not have the same option.  In other words, depending on which chapter you file you may be able to have your vehicle payment reduced, reaffirm your loan agreement with the lender, or set up a payment arrangement that helps you get caught up [...]