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Lien Stripping

More on the ongoing lien stripping appeal that is before the 8th Circuit Court of Appeals. A decision is expected by summer, and I expect it will be resolved in favor of homeowners. Lien Stripping Approved An appellate court has approved stripping…

What are the fees for a bankruptcy?

My fee depends on a few things, including your marital status, whether you are self employed, own real estate, and/or are over the median income. The current court filing fee is $335 for a Chapter 7 or $310 for a Chapter 13, and you also need…

For bankruptcy do I have to file on all my debts?

Yes, even if you plan on keeping the asset (such as a home mortgage or car loan), even if you know they won't get discharged (such as taxes, student loans or child support) and even if it's a credit card you wanted to keep. They and your other…

What are my options on my second mortgage?

I will start out with a very simple premise for my Chapter 7 and Chapter 13 clients, which I call the 10 word rule: If you want to keep your house, make the payments. (Same rule applies for cars). The 10 word rule covers 95% of what you need…

I have been served a summons...what should I do?

This usually means that you are getting toward the end of the collection cycle, that you have not had the money to pay your unsecured bills for at least a year, that your credit is probably shot, and it is probably time to call me. You have…

Bankruptcy vs credit counseling

The airwaves are filled with ads touting debt settlement or debt negotiation, implying that is a better solution than bankruptcy. A credit counseling plan, also called debt consolidation, or debt management plan, typically work by a nonprofit…