Many people are under the impression that once their car is repossessed, they are free and clear of the burden. Unfortunately, that isn’t always true. When your repossessed car is later sold at auction and is sold for less than you owe, you will still owe the difference. That difference is called a deficiency balance and your lender will… Continue reading
One of the biggest benefits of filing Missouri or Illinois bankruptcy is the peace of mind you get when you’ve finally freed yourself from debt—and that includes freedom from your creditors! You no longer have to live in fear of who will be on the other end of the phone.
Your creditors are prevented from contacting you because of the automatic stay. Federal bankruptcy law demands that creditors… Continue reading
The culture of St. Louis invites you to consider the entire metro-area as “St. Louis.” The truth is the Mississippi divides us and changes the laws we must follow, including the rules and regulations for bankruptcy. To add to the confusion, many of us live in Illinois and work in Missouri or vice-versa. So, if you spend time in both states… Continue reading
An experienced Bankruptcy attorney will tell you it’s a good idea to keep one credit card even after filing bankruptcy, you may ask why? This is because a cash-only existence doesn’t always provide for emergencies. I usually recommend my clients get one credit card to use responsibly after they receive their discharge.
That means for regular, necessary expenses and emergencies only (as I have often explained to… Continue reading
You’ve found a great bankruptcy attorney, completed all the necessary steps to get your debt discharged, and taken control of your finances. After all of that, one of your old creditors calls you demanding that you make paymetns on a debt that was included in your bankruptcy.
Holy Flashback, Batman!
If the debt in question was included in your discharge, then it’s all pretty simple: they can’t… Continue reading
It really is a small world. If you have found yourself in need of a bankruptcy attorney’s services it’s possible that not all of your assets are in the United States. Foreign bank accounts or assets are going to be important to disclose to your bankruptcy lawyer.
When you meet with your bankruptcy attorney, they will have you list all of your debts and assets. This is the sort… Continue reading
We knew it would happen and now we know when. Bank of America has started foreclosure proceedings this week for 23 judicial foreclosure states. Which states are being affected?
Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin
Now, it is only a matter of… Continue reading
With each day, week or month that passes by, your creditors will probably find a new way to kick it up a notch. That could result in wage garnishments, harassing calls, or even a lien on your home. You may be thinking that a lien doesn’t sound as bad as some of the other things you’ve suffered from your creditors. Unfortunately, a lien isn’t just a piece of paper—if your… Continue reading
With each day, week or month that passes by, your creditors will probably find a new way to kick it up a notch. That could result in wage garnishments, harassing calls, or even a lien on your home. You may be thinking that a lien doesn’t sound as bad as some of the other things you’ve suffered from your creditors. Unfortunately, a lien isn’t just a piece of paper—if your… Continue reading
Wait just a minute! Taking money out of retirement funds could be highly detrimental to your financial future—and won’t necessarily get you out of debt! Here are three reasons that taking money out of retirement funds to get credit card debt help or help with your other debts might be a bad idea:
