I recently posted about “Debt Settlement” companies and why you shouldn’t pay for services that you might be able to handle yourself. Today’s pet peeve is the “credit repair” industry. Anyone who promises to erase negative events from your credit report is promising you more than they can deliver. No one can “erase” negative occurrences such as lawsuits filed or … Read More
You’re in Debt–what are your non-bankruptcy alternatives?
My hat goes off to you for just acknowledging that you’ve got to do something about your debts. Obviously, it’s a bad situation to be in, so here are your alternatives for getting out of it. If you don’t do anything though, then you’re likely to get sued if you default on a credit card. And that will damage your … Read More
If I file bankruptcy, will the Judge yell at me?
It’s a common thought that if you file bankruptcy, the Judge or Trustee will get angry and yell at you. Definitely not true! First, in the normal case, you will like not appear before an actual Bankruptcy Court Judge. Instead, you will appear before a Bankruptcy Trustee, who is the court official responsible for conducting the mandatory Section 341 Meeting … Read More
All you ever wanted to know about Chapter 13 plan payments, but were afraid to ask
When I last wrote about Chapter 13 plans, I spoke about the fact that in the Bankruptcy Court of Western Pennsylvania (Western District), I mentioned that all secured debt payments (such as car loans and mortgages) must be paid inside the plans. This means that once you file a Chapter 13 plan, all of your car and mortgage payments must … Read More