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Tag Archives: bankruptcy

Can I Include My Debt Settlement Company in My Bankruptcy? – Ken

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“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 they receive 20% of money saved we have pd 7195 in 7 months . for one acct. they paid the settlement even though ... Read More »

    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 daddy!” But what happens when your parent is a fraudster? Father, Roberto Torres, former chief financial officer, and son, Alejandro Torres, former accountant ... Read More »

      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 in those up-front fees with businesses trying to exploit loopholes. The whole purpose of the Telemarketing Sales Ruling was to help consumers from ... Read More »

        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 civil action from them. I have spoken to them and they are willing to take payments if I can come up with a ... Read More »

          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 firm and they wanted 2875 up front took 3 months to pay that they just settled my ist account for half but i ... Read More »

            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 credit card. Last year, had an emergency appendectomy that ended up in an medical insurance mess up. Ended up with 15K bill on ... Read More »

              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 Track.I need advise~~It is Saturday I am overwhelmed with a large amount of debt..I am struggling to pay them.and getting no where. Can ... Read More »

                I’m a Nurse and Just Barely Making Ends Meet But My Husband Won’t Help Financially. – Kaye

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                “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. I am able to pay my monthly payments but have not been able to cover the taxes and medical bills. My husband was ... Read More »

                  All About Bankruptcy – Chapter 7 Bankruptcy – Chapter 13 Bankruptcy

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                  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 codified as title 11 of the United States Code, has been amended several times since its enactment. It is the uniform federal law ... Read More »

                    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 on my retirement (about 50k) of it, to finance the upcoming year. Question is, can I file for chapter 7 bankruptcy, and still ... Read More »

                      The Finance Company Never Picked Up the Motorcycles After My Bankruptcy. – Richard

                      “Dear Lewis, I filed bankruptcy late last year and the chapter 7 I filed is over with and I received the final paper where it is discharged. I live in Ky. And I had three motorcycles that I filed on among other stuff. One finance company came and got their motorcycle at the beginning of bankrupty but the other two ... Read More »

                        If Bankruptcy is Good Enough for the Los Angeles Dodgers, It’s Good Enough For You

                        mlb-dodgers

                        This morning the Los Angeles filed for bankruptcy in an effort to reorganize their debt. This is yet another example of how business uses bankruptcy to deal with their unmanageable debt but consumers feel shame and stigma when they need to call upon legal financial reorganization for help. According to reports, the Los Angeles Dodgers fell short of income needs ... Read More »

                          Debt Relief industry Trends, June, 2011 – Credit Counseling, Debt Settlement, Bankruptcy

                          Credit Counseling June 2011

                          In what has turned into a regular report from this site, here is the next installment in my forecast for the debt relief industry. The extension of consumer credit remains weak. Delinquencies and defaults are dropping and sometimes, as Discover announced recently, to historic lows. Credit Counseling Demand Sources inside credit counseling are reporting continued declines in new debt management ... Read More »

                            Can I Get Rid of Back Taxes in My Chapter 7 Bankruptcy? – Jacquelyn

                            “Dear Jim, I am converting from chapter 13 to a chapter 7 and I have owed federal taxes in it they will work with me on it won’t they? Will they work with me to pay back my taxes? Jacquelyn” The Answer Dear Jacquelyn, Thanks for the question. Although bankruptcy is filed in federal US Bankruptcy Court, state laws still ... Read More »

                              I Discharged My Mortgage in Bankruptcy. Can I Really Sell The House Now? – Romy

                              “Dear Lewis, I filed chp 13 bankruptcy and had agree to let go of my house. No repayment. All debts were discharged. however, the bank is allowing me to stay in the house because i have continued to pay the mortgage/taxes/etc. However I’ve noticed that none of my payments are being report to the credit bureaus. My questions: do I ... Read More »

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