Recent News
Medical Credit Cards: Can Consumers Afford Them ?
The New York Times has an article out today that discusses the recent trend of medical offices offering to patients the option of paying for their procedures in advance with a medical credit card. These cards, or accounts, are being offered to pay the portion of the...
Do all creditors have to be listed on bankruptcy schedules ?
Yes. All of the debts have to be scheduled, with the name and address of the creditors. This is so that they can receive notice of the bankruptcy, and get their fair share of any money that is paid to creditors. Sometimes debtors think that they should omit a creditor...
Model Trains and Bankruptcy: New 6th Circuit BAP Opinion on State Court Non-Dischargeability
If the underlying judgment is nondischargeable, generally the contempt judgement award stemming from the underlying judgment will be nondischargeable as well. At least so says the 6th Circuit BAP. ABI VOLO reporter has the case here. The case involves a deceased son,...
What is a reaffirmation agreement in Chapter 7 bankruptcy, and how does it work?
A reaffirmation agreement is an agreement by a debtor and a creditor about how to treat a particular debt that would otherwise be discharged in the debtor’s bankruptcy. Usually, the debt is secured by collateral that the creditor could repossess or foreclose on. In...
How can debtors obtain a copy of their credit reports and correct any errors?
Whenever a debtor’s application for credit is denied, the credit issuer is required to give the debtor, on request, a copy of any credit report that was used in making the decision. Otherwise, debtors can obtain their credit reports from the major credit bureaus....
What are my options if I am worried about not being able to make payments on my Federal student loans?
The area of student loan forbearance and forgiveness can be confusing and misleading if you rely on the internet to research your options. Thankfully, the new Consumer Financial Protection Bureau, also known as the CFPB, in Washington, DC offers a website to begin the...