Blog , FAQ , Foreclosure
Can I sell my house to my child so that I can stop a foreclosure and continue to live there? Yes, but your child will still have to pay off the loan. We have seen a number of situations in which people file a Chapter 13 bankruptcy case to stop a foreclosure sale. The debtor […]
Read MoreBlog , Chapter 7 Bankruptcy , Debt Collection
The Unexpected Bankruptcy and What to Do About It The morning mail arrives, and with it is a notice of a bankruptcy filing by a customer you have not heard from in years. The customer owes you money, and the statute of limitations has long since run so you can no longer file suit to […]
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CONSUMER ALPHABET SOUP: CROA by Arin E. Berkson When mistakes appear on a credit report, individuals may be tempted to hire a credit repair organization (CRO) to represent them in the credit repair process to save the time and effort of disputing incorrect credit report information on their own. While legitimate CROs exist, repeated […]
Read MoreBlog , Chapter 128 , General Bankruptcy
April 15th is an important time of year. Income taxes are due by April 15th. Leonardo Da Vinci was born on April 15th. But the reason we want to bring this to your attention is because April 15th was the last date of the energy shutoff moratorium in Wisconsin. As long as you have […]
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The pros and cons of a 30-year mortgage loan is a discussion I often have with my clients. They are often shocked by the amount of interest they will pay over a span of 30 years. My suggestion, though, is to get the longest possible amortization. The longer the amortization, the lower the required payment. […]
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A 2014 report on holiday shopping plans and finances found that about 55% of the respondents reported that money was their main source of stress during the holiday season. Despite this, more than half of those people planned to use their credit cards for holiday shopping, and they plan to spend about as much money […]
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Why did Christopher Columbus need financing from a government? Simple, his plan was risky, too risky for any private individual that had the needed capitol. He would also need the power that a government could supply to maintain control of lands and goods that he discovered. Christopher Columbus actually began looking for financing long before […]
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We don’t talk about things that make us feel uncomfortable, and many people are very uncomfortable talking about their financial problems. Often, people with such problems will hide all evidence of financial distress. Some people do this with a misguided sense of protecting their loved ones. If I don’t tell my spouse about the problems […]
Read MoreBlog , Debt Collection , General Bankruptcy
How can you tell if your debt is out of control? There are various signs that a person has too much debt. These indicators include the following: You don’t know the balances on your accounts. You have made minimum payments for three or more successive months. This signals an inability to reduce the […]
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I attend a lot of seminars and educational programs dealing with bankruptcy and related issues. Usually the information is valuable to my practice and to my clients, but I recently attended a seminar where an attorney stated to the audience that we should never advise our clients to incur debts while we are planning on […]
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