Podcasts - OnlineDebt reduction

Mortgage Modification Bill: Mortgage Bankers Don?t Get It
Pending bankruptcy legislation would allow bankruptcy judges to modify mortgages in Chapter 13 in order to slow down the foreclosure crisis in this country. Mortgage bankers oppose the bills even though it could ultimately benefit their industry. Today, they rolled out former Republican Congressman Dick Armey in the Wall Street Journal to attack former Republican [...]

Can I Surrender an Expensive Car in My Chapter 13 - What Will Happen?
My husband and I are thinking about filing for chapter 13 in Arkansas. We bought two new cars in the last 6 months. One of the cars we bought was only worth $30,000 but we financed over 45 thousand for it. My husband spoke to an attorney and he advised us to go out and if [...]

Student Loan Payments Special Circumstance in Means Testing
While paying a student loan outside a Chapter 13 plan may be an option in bankruptcy, student loan debt may help an above median debtor pass the means test and file a Chapter 7.   A monthly student loan payment is a valid additional circumstance allowing a debtor with above-median income to file for Chapter 7 [...]

Can I Lose My Student Loan Money In My Bankruptcy Case?
If you are considering bankruptcy and happen to have the proceeds of your recent student loan sitting in your bank account, what happens to this money? Is it subject to being taken by the trustee to pay your creditors? If so, your education plans could be derailed: you could be unable to pay [...]

The ?Drive More People Into Bankruptcy Act of 2005??
Recently, on MSN.com, columnist Liz Pulliam Weston, wrote an opinion piece entitled, “Let’s Punish Lenders Of Easy Credit.” Ms. Weston points out that in the year following its implementation, revolving debt rose at a sharply increased level than previous years (despite nearly 2 million folks rushing to file before the law changed on [...]

I Filed Chapter 13, But Noticed A Bankruptcy Fee On My Mortgage Statement!
Well, actually you should not be getting any mortgage statements during your Chapter 13 case. But this technical violation might help remind you to make your monthly payments. Even better, this technical violation may provide you the “smoking gun” of evidence that your creditor is violating bankruptcy laws. There should not be any Bankruptcy [...]

Why Do I Still Get Billed For My House I Surrendered In Bankruptcy?
Lately, most people are surrendering their real estate in Chapter 7 Bankruptcy Proceedings.  This is because there is usually little if any equity left in the property.  In fact, in many cases, surrendering the property is recommended in light of future interest rate adjustments which will increase monthly payments, negative equity, and the fact that [...]

Region 20 U.S. Trustee Named
The Executive Director of the Executive Office of the U.S. Trustee announced that Richard A. Wieland has been installed as U.S. Trustee for Region 20 in Kansas, Oklahoma and New Mexico. Wieland has been acting U.S. Trustee since September 1, 2007. He has 20 years experience as a trial lawyer in the U.S. Trustee’s office [...]

Can I Change Lawyers In A Bankruptcy Case?
It happens: you?ve hired an attorney to file for bankruptcy for you and somewhere along the line, either before or after the filing, he or she seems to be dropping the ball.  Can you change attorneys?  Absolutely! But that?s not the end of the story.  To change, find a new attorney willing to take over.  Make [...]

Bankruptcy Means Test Income Allowances Change February 1
The figures used for your state’s median family income on the bankruptcy means test will change again for cases filed on or after February 1, 2008. A chart by state and family size is available on the U.S. Trustee website. The numbers come from the U.S. Census Bureau and have been adjusted six times since [...]