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President Biden has issued an extension of protections against foreclosure.  This protection will extend through June 30, 2021.  While this protection is good as far as it goes, it is only temporary protection from foreclosure, and it only protects homeowners who have federally-backed mortgages.  Approximately 70% of mortgages in the U.S. are federally-backed, that leaves […]

In order to prevent foreclosure, don’t wait to get help to save your house.  Waiting until the last second could prevent you from getting the help you need. I got a call on a Friday afternoon from a person facing foreclosure the following Tuesday.  While it was still possible to file a chapter 13 bankruptcy […]

You may be able to strip 2d & 3d mortgages with chapter 13 bankruptcy!  Lien “stripping” changes junior liens like 2d & 3d mortgages from secured debts to unsecured ones that can be discharged in bankruptcy without losing your home.  The junior mortgage must be completely “underwater” in order to do strip it, so this […]

For most people, filing bankruptcy will not ruin your credit, contrary to popular opinion.  In fact, filing bankruptcy can actually fix your credit in addition to its main benefits of getting rid of your debts and protecting you from creditors. First, if you are behind on your bills, your credit is not your biggest problem.  […]

You cannot discharge student loans in bankruptcy, and everyone seems to know that.  You used to be able to discharge private student loans in bankruptcy, but the law was changed in 2005 so that you cannot discharge private student loans either.  The rationale for this is that, unlike other loans such as credit cards, your […]

A loan modification in chapter 13 bankruptcy can be the answer to your mortgage payment problems.  Are you unable to pay your mortgage because you can’t afford the payments, or because you’ve gotten behind on them and cannot afford to make them up while paying your mortgage?  If so, a loan modification may be your […]

Don’t be embarrassed by bankruptcy.  Many, if not most, people who have serious financial problems are embarrassed by those problems, but they are even more embarrassed by considering bankruptcy as a solution.  However, you should not be embarrassed by using bankruptcy to fix your financial problems. It is completely understandable that you are embarrassed because […]

You can lower your total debt payments, like credit card and medical debts, by consolidating your debts with a chapter 13 bankruptcy.  There are many debt consolidation companies, and a lot of them will rip you off.  However, you can use chapter 13 bankruptcy as a debt consolidation without the fear of being ripped off by a dishonest company. […]

Do you hesitate to file bankruptcy even if you are facing foreclosure because you are concerned about your credit, even if you are in foreclosure?  Are you more concerned about your credit or the stigma of filing bankruptcy than about saving your home?  Don’t laugh; I actually had a case like that. Marge (not her […]

Do you need bankruptcy help during the coronavirus?  While we are still not seeing clients in our office because of the coronavirus, our office is conducting free telephone and video consultations for people who need help with debts they can’t afford to pay.  We have also implemented a completely electronic/digital program, so that you can […]