bankruptcy

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  2005 Bankruptcy Reforms “Failed Miserably” to Help Students

  It’s official, bankruptcy reform in 2005 totally sucked for people with private student loans. Academic research shows lenders won and consumers lost. Here is the abstract from a paper in the Harvard Law & Policy Review by...

  • Posted May 1, 2018
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  Chicago’s Bankruptcy Boom

  This week we published a deep look at why bankruptcy frequently fails to provide relief to black Americans struggling with debt. The story focused on Memphis, Tennessee — the bankruptcy capital of the nation — where black...

  • Posted September 28, 2017
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  Black People in the South Unfairly Get Less Relief in Bankruptcy

  Paul Kiel, a reporter, sent me an email and described his latest article which is fascinating in a bankruptcy kind of way. I can attest having observed similar trends anecdotally for decades but his hard work and...

  • Posted September 27, 2017
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  When Bankruptcy for Seniors Might be a Bad Idea

  This guest post by Eric Olsen is a great example that not all debt experts need to agree all the time. Eric presents a very valid point of view and mine is slightly different. Eric describes a...

  • Posted April 6, 2017
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  Filed Bankruptcy, in the Middle of a Divorce, and Student Loan Forbearance Ending Soon

  Question: Dear Steve, Bankruptcy discharge February 2016. Separation from husband March 2016. Still in divorce proceedings. My student loan is in forbearance that will be ending soon. What if your bankruptcy was filed prior to July 2015...

  • Posted January 18, 2017
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  Different Options for Debt Relief – Finding the Right Solution

  Imagine you were sick. Really sick. Sick enough to go to a doctor or even a hospital. Perhaps you even looked up your symptoms on the Internet, visited WebMD, did a ton of internet research and were...

  • Posted February 16, 2016
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  My Business Failed and I’m a Disabled Veteran

  Question: Dear Steve, We bought an existing business – a gym- with an SBA loan. Even though we grew the membership from 80 to 430 within 2 years, the overhead and servicing the loans were crushing us....

  • Posted February 12, 2016
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  I Thought My Art Institute Student Loans Were Eliminated in My Bankruptcy? – Stephanie

  Question: Dear Steve, I went to the Art Institute of California for video production. I graduated in December of 2009. Due to life I had not been able to pay my loans. The went from being 54,000...

  • Posted January 6, 2016
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  What You Need to Know About Collectors Chasing You in The UK for UAE Debt

  When you move outside of your native country you are said to be an expatriate of the country you are moving from. Many UK citizens move to various places around the world, some for work, some just...

  • Posted December 21, 2015
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  Removing an Outdated Bankruptcy from a Credit Report: Jorge’s Story

  Jul 16 2015 By Ashley Gordon Have you ever found an error on your credit report? These errors can negatively affect loan applications, how much you can borrow, hiring decisions and more. In Jorge’s case, he had...

  • Posted July 16, 2015
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  The Moral Hypocrisy of Avoiding Bankruptcy. It’s Good Enough for Your Church.

  Having lived through bankruptcy myself I find it very interesting to observe the camps of bankruptcy lovers and haters. Admittedly I was once in the avoid bankruptcy camp because I just wasn’t well prepared for the experience...

  • Posted January 26, 2015
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  Shouldn’t Key Bank Have Backed Off During My Bankruptcy?

  “Dear Steve, I graduated college in August 2010 and filed Chapter 13 bankruptcy in September of 2010 to get rid of some credit card debt I had. Under the bankruptcy I was told by my lawyer that...

  • Posted October 13, 2014
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  My Boyfriend is Scared of the IRS. – Journey

  “Dear Steve, My boyfriend has the IRS after him from a 2009 audit that went into noncollectable status in 2010. Recently, we have had a knock on the door and a note left from the IRS with...

  • Posted August 15, 2014
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  When Bankruptcy Feels “Wrong”

  By Paula Langguth Ryan When it comes to your debts, are you stressing yourself out financially or creating financial hardship for yourself or a loved one? Has anyone suggested you consider bankruptcy? Do you get queasy even...

  • Posted May 21, 2014
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  Bankruptcy is the Best Thing That Ever Happened to Me

  During my first job interview after my bankruptcy, the interviewer asked me what I was “most proud of in my life.” Without hesitating, I stated “declaring bankruptcy!” His quizzical look invited me to explain. And I’ll share...

  • Posted December 19, 2013
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  I’m Disabled, Filed Bankruptcy, But Still Owe on Student Loans

  “Dear Steve, I was hit by a drunk driver, suffering several acute compression fractures in my neck and back, ribs, discs, etc…and was wheel chair bound. Fortunately, I recovered well, and am more functional than any of...

  • Posted December 11, 2013
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  I Died Last Year. Should I Go Bankrupt? – Gary

  “Dear Steve, I am broke had a heart attack last year and died for 4 to 6 minutes. I borrowed 55,000 from the bank for a business which is not about anymore. My wife did not sign...

  • Posted December 5, 2013
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  Disappointing Debt Relief Mailer Leads to Debt Defense Services

  A new debt relief mailer, which you will see below, poses as an official document but in fact leads to a potential sale for Debt Defense Services according to the tipster (send in your tips here). What...

  • Posted August 16, 2013
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  Everything You Always Wanted and Needed to Know About Bankruptcy

  Below is my growing list of bankruptcy resources and links. If there is something that’s not addressed in one of those articles, guides, then feel free to ask me your question.

  • Posted May 27, 2013
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  I Suggest Bankruptcy Too Often, So Say Some

  I really do read all the comments, all the Twitter messages you send me and appreciate the feedback. Over time a common statement I get is about my recommendations is that people think I suggest bankruptcy too...

  • Posted May 13, 2013
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  In Our Divorce My Ex-Husband Was to Pay Half of My Credit Card Bills But He’s Filing for Bankruptcy. – Becky

  “Dear Steve, Credit cards that are in my name only. My ex husband was ordered to pay half of my credit card bills… they are all in my name only… he did not pay so I took...

  • Posted May 2, 2013
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  Bankruptcy Filings Decline in 2012

  Bankruptcy filings in the federal courts fell 13 percent in calendar year 2012, according to data released today by the Administrative Office of the U.S. Courts. The number of bankruptcies filed in the 12-month period ending December...

  • Posted February 4, 2013
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  I Might Get a Cash Settlement in the Future. Can I File Bankruptcy Now? – Jami

  “Dear Steve, My husband and I are currently in a fair amount of debt, living paycheck to paycheck. Sometimes having to use our credit cards to buy groceries or pay for gas 2 days after payday. I...

  • Posted January 18, 2013
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  Should I Get Divorced Before Bankruptcy or Wait? – Denise

  “Dear Steve, I am about $40,000 in debt including a car loan 3 judgements and small bills such as cable, phone and some medical bills I am extremely concerned about the three judgements against me (one for...

  • Posted January 6, 2013
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  How to Know if You Should File Bankruptcy

  If you are in financial trouble and struggling to make payments, tapped out, you’ve spent down savings, or living month-to-month, then bankruptcy is worth a good hard look. Below you will find a number of links to...

  • Posted January 1, 2013
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  What Does the Bible Say About Bankruptcy? Is Bankruptcy Scriptural?

  Far too often people come to me for help loaded with all sorts of assumptions, emotional baggage, and guilt about their financial situation. They feel that it is immoral to consider some options and instead set themselves...

  • Posted January 1, 2013
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  How to Get the Right Help for Debt Problems – Get Out of Debt Guy Show

  In this show I share some critical information and advice with you on how not to become a victim or get scammed when you are searching for debt relief help. Having financial problems can be scary enough...

  • Posted December 5, 2012
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• I’m a Client of a Debt Settlement Company in Canada But Debt Collectors Are Still Calling Me. – John

  “Dear Steve, Debt settlement company in Canada send a power of attorney via fax to a collection agency, and I am still receiving phone calls as they stated that the debt settlement company is not a lawyer...

  • Posted October 23, 2012
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• I Can Make the Minimum Credit Card Payments But Trying to Decide Between MMI and Bankruptcy. – Tony

  “Dear Steve, Own a home, divorced, alimony is $375/month through May 2013, a $500/month loan with lending club through July 2013. House payment is $1,250 including assessments. Credit card debt alone is $25,000. Lending Club loan has...

  • Posted September 18, 2012
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  Are You a Great Bankruptcy Attorney or Do You Know of One? We Want to Know.

  We’ve recently launched our new bankruptcy attorney directory at bankruptcy.live-get-out-of-debt.pantheonsite.io. Our hope is that we can make it easier for bankruptcy attorneys to be found by readers and that we can feature one attorney in each city....

  • Posted September 18, 2012
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• Bankruptcy Should Be the Last Resort Many Say. But That’s Just Not True.

  There they go again, “bankruptcy should only be considered as a last resort.” We’ve all heard that rumor or authoritative statement, many times. You even read it again and again in mainstream media. But here is the...

  • Posted August 2, 2012
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• Can I Apply for New College Loans if I’m Already in a Bankruptcy? – Nicole

  “Dear Steve, Already in a chp 13 plan, no problems there. How would enrolling in a grad school program affect my CH 13 plan? I have tried to email/call my atty with no response to this. I...

  • Posted June 19, 2012
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• Raleigh Native Indicted In Connection With Fraud And Extortion

  The former President of Encap Golf Holdings LLC (“Encap”), William Gauger III, was indicted this week for his participation in a scheme to extort approximately $100,000 from a financial consultant and a fraudulent invoicing scheme relating to...

  • Posted January 25, 2012
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• Six Hundred Out Of $74 Million In Ponzi Scheme

  Douglas Vaughan faces 10 to 12 years in prison after pleading guilty to wire and mail fraud charges that involved his operation of a “Ponzi” scheme where he defrauded around 600 investors of more than $74 million....

  • Posted January 4, 2012
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• Attorney Sentenced In $50 Million Bank Fraud

  Kevin Harold Lewis was sentenced to 121 months incarceration to be followed by three years of supervised release for bank fraud. Lewis was also ordered to pay $33,826,326 in restitution. An additional amount of restitution will be...

  • Posted December 30, 2011
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• I Went Into Debt as a Single Mom. – Theresa

  “Dear Michael, I went into large amounts of credit card debt as a single mom. I divorced when my house was worth $50,000 more than it is now. I insisted with my ex to keep the house...

  • Posted December 19, 2011
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• Heartless Criminal Activity In Foreclosure-Related Scam

  Last week a man whom operated a foreclosure-rescue scam agreed to plead guilty after collecting $1.6 million from 1,100 distressed homeowners. The man, Frederic Alan Gladle, of Austin, Texas, ran his scam in Los Angeles and elsewhere...

  • Posted December 15, 2011
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• Owner Of Three Precious Metal Firms Sentenced In $29.5 Million Investment Scheme

  Earlier this month Jamie Campany, owner of three invesment firms specializing in alleged metal purchases, was sentenced to 151 months in prison on multiple counts of mail and wire fraud. According to the Information filed in the...

  • Posted November 30, 2011
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• Former Owner And President Of Allied Health Care Sentenced For $135 Million Phony Lease Scheme

  Former owner and president of Allied Heath Care Services, Charles Schwartz, was sentenced last week to 195 months in prison (16.25 years) for organizing and executing a $135 million phony lease scheme that losses of more than...

  • Posted November 30, 2011
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• Mother Sentenced To Almost 6 Years Jail Time In Family Fraud Affair

  Earlier this year Janice Edwina Demmitt was convicted of the federal felony offenses charged in a 27-count indictment against her and her son, Timothy Fry. At trial, Demmitt was convicted on on one count of conspiracy to...

  • Posted November 29, 2011
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• Can I Include My Debt Settlement Company in My Bankruptcy? – Ken

  “Dear Steve, i have 65000 in credit and installment debt we lost one third of our income in last year signed with debt settlement law firm in april initial fee 2895 they have settled 2 accts. which...

  • Posted November 9, 2011
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• Father And Son Sentenced For $930 Million Ponzi Scheme

  Sometimes the apple doesn’t fall far from the tree. When children are growing up many look up to their parents and imitate them on a daily basis. “When I grow up, I’m going to be just like...

  • Posted October 10, 2011
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• It’s Been A Year Since The TSR – What’s Changed With Debt Settlement?

  A year ago this month the Federal Trade Commission (FTC) barred debt settlement companies that used telemarketing from accepting up-front fees. Although it’s been an entire year since this change we are still see companies trying sneak...

  • Posted October 4, 2011
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• All My Credit Card Debt Has Gone to Collections and My Sister-In-Law is Suggesting Bankruptcy. – Alyce

  “Hi Mr. Roberts, Thank you in advance for your help. Presently I have about $16,000.00 of credit card debt. All have gone to collections and the largest has acquired an attorney. I have recieved a notice of...

  • Posted October 3, 2011
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• I Can’t Afford My Debt Settlement Program Anymore and Want to File Bankruptcy. – Tony

  “Dear Lewis, I am currently enrolled in a debt settlement plan but i am unable to make the payments due to losing one third of my income in the last 10 months. I went with a law...

  • Posted October 2, 2011
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• Root Canals and Appendectomy Were Expensive and Landed Me in Bankruptcy. – Ray

  “Dear Lewis, Made many not so smart mistakes which put me into serious credit card debt over the past 8 years or so. Followed by some dental work (multiple root canals) that had to be paid with...

  • Posted October 2, 2011
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• Should I Sign With Fast Track Debt Relief? – Mary

  “Dear Damon, I am ready to meet with a person on Monday to sign a paper for Fasttrackdebtrelief program. I was researching it..I am scared now.I don’t trust it. I saw your name in reviews about Fast...

  • Posted October 2, 2011
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• I’m a Nurse and Just Barely Making Ends Meet But My Husband Won’t Help Financially. – Kaye

  “Dear Steve, I am married and work as a nurse, making a good salary. I currently have around $32,000 in debt. This includes a debt consolidation account, car, bank loan, student loan medical bills, and back taxes....

  • Posted September 30, 2011
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• All About Bankruptcy – Chapter 7 Bankruptcy – Chapter 13 Bankruptcy

  Article I, Section 8, of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies.” Under this grant of authority, Congress enacted the “Bankruptcy Code” in 1978. The Bankruptcy Code, which is...

  • Posted August 25, 2011
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• Should I Draw On My Retirement Before or After I File Bankruptcy? – Ryan

  “Dear Lewis, Recently divorced, left financially and emotionally wiped out, decided to resign and take a year off for travel and healing. Currently have 40K in unsecured debt and about 7K in savings. Was planning on drawing...

  • Posted August 23, 2011
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