More senior citizens may face mounting medical debt as monthly premiums rise on popular Medicare Advantage plans with drug benefits. Senior citizens enrolled in Medicare Advantage plans with drug benefits will see an increase of 14.2 percent for their monthly premiums this year as opposed to the 5.2 percent increase they experienced from 2008 to 2009.
The health insurance industry blames …
The tax deadline is just a few weeks away and many debtors are expecting at least a few thousand dollars in their tax refund check. But what should debtors do with that money? Buy a car, TV, pay off credit card debt? Well if you’re drowning in debt, like many debtors, you should probably use that tax refund to file bankruptcy if:
If you are unemployed and have been unemployed …
In the Chapter 13 bankruptcy case of Hannon, Mary; In re (Hannon v. Countrywide Home Loans Inc.) , the bankruptcy court denied a debtor’s motion for sanctions against a creditor because the debtor failed to properly notify the creditor and give them time to correct the problem.
The details of the bankruptcy case:
Countrywide Home Loans filed a proof of claim stating an …
Category: Bankruptcy , Economy , bankruptcy law
In the Chapter 13 bankruptcy case of Janssen, Richard D.; In re (Janssen v. Chase Home Finance LLC) , the bankruptcy ruled against a debtor who changed his mind about an oral creditor/debtor settlement agreement.
The details of the bankruptcy case:
After he received a Chapter 13 discharge, the debtor sued Chase Home Finance alleging that the lender failed to abide by the terms of …
Category: Bankruptcy , Chapter 13 Bankruptcy , Economy , bankruptcy law
Michael Lee Wilson could have 10 years removed from his 20 year sentence if his bankruptcy comes up with $2 million for his victims.
Back in October, Michael Lee Wilson Pleaded guilty to 59 felony counts of grand theft, because he had been camming people through his mortgage company, Pacific Coast Mortgage, for several years. He was originally arrestede in July and charged with 147 …
Bankruptcy Judge Mary Walrath rejected a request from Washington Mutual that a court- sanctioned committee appointed to represent the interest of shareholders be disbanded, saying that shareholders have a right to a place at the table.”
The office of the U.S. Trustee, which monitors corporate bankruptcies on behalf of the Justice Department, agreed to appoint a shareholder committee …
The first major bankruptcy legislation since the Chandler Act of 1938 brought major changes to the U.S. Bankruptcy Code.
Bankruptcy is a process that has been refined over several years and through several pieces of legislation. When looking at the history of bankruptcy, you can usually turn to just a few pieces of legislation that brought major changes to the bankruptcy …
Category: Bankruptcy , Economy , bankruptcy law
… way since I owe this debt and didn’t pay it.
Fact : Debt collectors are prohibited by law from demeaning, threatening or otherwise harming debtors. What this means is that a debt collector does not have the right to curse at you, yell at you or threaten you with harm. They also do not have the right to threaten jail time if you don’t repay the debt. A matter of fact, if you send a debt collector a letter requesting that they stop calling you they are required to cease …
… consider before you pay off a loan from family/friends:
Is it allowable? While there is no law prohibiting debtors from settling debt with creditors before they file bankruptcy, any payment made to one creditor over another before filing bankruptcy risks being viewed as preferential treatment. If the bankruptcy court finds that the debtor gave one creditor preference over another, the payment made to the creditor may be voided. What that means is that if you paid your Aunt Sue $500 …
If you are low or no-asset debtor, it is unlikely that you will need to pay any money to your creditors or be required to liquidate any of your assets. Because of the bankruptcy codes’ generous exemptions system, many Chapter 7 bankruptcy debtors are able to protect all of their assets from seizure during bankruptcy. Because of bankruptcy exemptions, most Chapter 7 bankruptcy …
If you are low or no-asset debtor, it is unlikely that you will need to pay any money to your creditors or be required to liquidate any of your assets. Because of the bankruptcy codes’ generous exemptions system, many Chapter 7 bankruptcy debtors are able to protect all of their assets from seizure during bankruptcy. Because of bankruptcy exemptions, most Chapter 7 bankruptcy …
In the Chapter 13 bankruptcy case of Daniel-Sanders, Andrea C.; In re , the bankruptcy court ruled that a single debtor in Chapter 13 bankruptcy could in fact keep two cars but could only do so if it did not diminish bankruptcy plan payments for unsecured creditors.
The details of the Chapter 13 bankruptcy case:
The unmarried Chapter 13 debtor took Means Test deductions for two …
Category: Bankruptcy , Chapter 13 Bankruptcy , Economy , Filing Bankruptcy , bankruptcy law
I am a homegrown Texas Attorney certified in Consumer Bankruptcy by the Texas Board of Legal Specialization. I was born in Jacksboro, Texas and raised in Abilene.
Now, I am a proud resident of Dallas/Fort Worth. Although my first name is Weldon, I go by “Reed” (my middle name). I have been an attorney for over 9 years and my firm has helped thousands of people with foreclosure or other financial-related issues.
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