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Fleysher Law Blog

Bankruptcy & Marriage

Bankruptcy & Marriage Question from a Visitor

Q: Will Marriage have a bad effect on Bankruptcy? My girlfriend wants to file for bankruptcy, because of the debt for house and credit. I wonder if we should wait for her discharge? Then we marry? A: You should wait for marriage until after her bankruptcy meeting of creditors. If you marry before filing, the inclusion of your income in determining whether she qualifies for bankruptcy will occur. This could

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Collections Question from a Visitor…

What is the connection between collection and foreclosure? Q: Chase ($7,092.00) to Midland Funding sold debt. They are trying to collect and I have not paid since 2009, when I lost my job. My husband is on Social Security and I am still not working. Our house is in Foreclosure. What should I do? A: You have some options to help resolve your issue of collection. In fact, one option

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zombie foreclosures

Borrowers Are Discovering That Their Foreclosed Homes Are Coming Back To Haunt Them — Long After They Have Moved Out

Your home has been in foreclosure, possibly for years. And, the bank has finally set a sale date so you move out. You and your family are starting over in a new home. Moreover, you no longer think of your old home that the bank sold. That is, until years later when a debt collector calls to tell you that you owe thousands in new debt from the home. That

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private mortgage insurance

Insurer Can Sue for Unpaid Mortgage Debt

The most important thing to learn before short selling a property or having the lender foreclose upon is whether or not the renouncing of the deficiency will happen. If the deficiency has been waived then you do not have to pay that debt. If the deficiency was not waived when your property was short sold or foreclosed upon and your loan had private mortgage insurance; then make preparations for a

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tips for bankruptcy

Some Helpful Tips in Preparing for Bankruptcy

In today’s economy, oftentimes people are forced to choose between paying their bills or buying groceries. When they eventually decide they can no longer continue this way, bankruptcy can offer a fresh financial start. Whether your decision to file bankruptcy stems from a financial disaster or simply not having enough income to cover your expenses, retaining an experienced bankruptcy attorney will ensure you are successful in obtaining financial relief. Here

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Bankruptcy pitfalls

Look out for Common Bankruptcy Pitfalls!

Bankruptcy is a legal process that helps us eliminate our debts and start afresh financial life. Furthermore, the purpose of bankruptcy is for you to declare your inability to repay your debts; even with the help of other debt relief or debt settlement options. Moreover, the bankruptcy laws enable you to take the required steps to discharge your debts. And, they help you start a new financial life. However, the

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IRS Tax Debt

Can IRS Tax Debts be Discharged in Bankruptcy?

A question that often arises is whether IRS tax debt can be discharged in Bankruptcy. The answer is often surprising to the person asking the question. That answer is “Yes,” under certain circumstances, certain tax debts can be discharged in bankruptcy. In fact, income taxes, both federal and state, over 3 years old can be discharged in bankruptcy. That is if the returns have been filed by the debtor at

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New Bill

New Bill would Speed Up the Foreclosure Process in Florida

Currently in Florida, it takes an average of 600 days for the foreclosure process to be completed. This figure is the average among both contested and uncontested cases. Last year a bill designed to speed up the process faced protests and consumer outcry and did not pass. This week, Rep. Kathleen Passidomo proposed a new bill, HB 87, which is a more moderate version. But, it still aims at speeding

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Mortgage Forgiveness Relief Act

Mortgage Forgiveness Debt Relief Act Extended through 2013

After much delay and anxiety, the Mortgage Forgiveness Relief Act got an extension through 2013. Part of the fiscal cliff deal signed by Congress this past December dealt with the tax consequences. The consequences that loan modifications, short sales, and foreclosures have on the American taxpayer. Their decision extended the current Section 108(a)(1)(E) so it expires December 31, 2013. In fact, current tax law states that anytime a reduction of

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debt settlement companies

Debt Settlement “Programs” are Often Scams

Today, large amounts of debt are facing many Americans. Because of this, many debt settlement companies have popped up. They are promising consumers ways to get out of their debt in a relatively short amount of time. And, for less money than they actually owe. However, despite all their TV and radio advertisements, the industry admits that the debt settlement companies’ schemes fail to work for about two-thirds of clients.

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