They’ve Repo’d My Car! What Can I Do?
Car been picked up by the creditor? How you might get it back.
Read MoreMerry Christmas and a Happy New Year
I won’t be posting over the holidays–everyone needs a vacation and this is mine. I hope you all have a very Merry Christmas and a very happy and prosperous New Year. If you don’t celebrate Christmas, have a very happy holiday season and enjoy yourself!
Read MorePost I Liked: Why We Run
This isn’t about why people like to run for exercise. It’s about why we run from things, thoughts, and people. I try to keep my blog about bankruptcy (after all, that’s probably why you are here), but it’s Sunday morning and this resonated with me. Read about it here: Why We Run from the Clutter, Interrupted blog. If you want to stop running from your financial problems, call me at 770-631-2334.
Read MoreDo-It-Yourself Chapter 13 Bankruptcy–Maybe Not
Most lawyers advise against someone filing their own bankruptcy petition. About 10-15% of people who file Chapter 7 do so without an attorney and most do it successfully. I don’t have a problem with someone filing their own Chapter 7, but I do get concerned when someone tries to manage their own Chapter 13 bankruptcy. Chapter 13 bankruptcy is a different situation. There are more reporting requirements and creating a repayment plan that will be accepted by the creditors, the trustee, and the court takes special knowledge of Bankruptcy Code, bankruptcy forms, and local procedures. I get a call or two every month from someone who has filed a Chapter 13 without an attorney. I usually invite them to come in for a free consultation and I ask them to bring in everything they’ve filed with the court and all correspondence they’ve received from the court and their creditors. I can look up their case on-line to see what’s happened so far. Without fail, I’ll see forms and schedules that have been inaccurately completed or left completely blank. I will look at any objections to the repayment plan that have been filed (there is at least one objection 99% of the time). It’s usually after the objections have been filed that someone will call me looking for help. Usually, I can help. After I review the petition, plan, and all of the client’s supporting documents to make sure there are no discrepancies with the petition, I’ll enter an appearance as their attorney. From that point, I’ll take control of the case. I will update and amend the schedules and review the plan to address any objections that have been filed and make sure that the minimum allowable payment is provided for. My job is to guide my clients through the bankruptcy process to make sure they get through it safely. That’s my objective whether they come to me from the beginning or after they’ve tried to manage their own...
Read More#5 of 33 Things Not to Do When You Are About to File for Bankruptcy
Don’t use those convenience checks your credit card company sends you. They are called “convenience checks” for a reason–they are easy to use! You just fill it out and you can pay for something, which then appears on your credit card on the next statement. It normally has a much higher interest rate than normal charges, too. These convenience checks are just like cash advances–you don’t want to use them within 90-180 days before you file. If you are using them to transfer a balance from one card to another, I would recommend waiting a year before you file. When you transfer the balance, one creditor gets paid in full, while the other has a new, much higher balance. I have seen some cases where the attorney argued that the convenience checks plainly ask you to transfer a higher balance to get a lower interest rate, so these checks shouldn’t make any difference before filing for bankruptcy. A lot of people in bankruptcy have been playing the “credit card shuffle” to get a 0% interest rate so they can try to pay down their balance, but sometimes it’s not the cure-all they sought. If you are transferring one credit card balance to another card regularly, it might be time to sit down with a bankruptcy attorney to see if that may be a better long-term solution for...
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