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Fleysher Law Blog

Bankruptcy letter

Bankruptcy Letter Question from a Visitor

Q: What does a “Notice of Chapter 7 Bankruptcy Case, Meeting of Creditors, & Deadlines” letter mean? The letter says I may be a creditor of the debtor and may need legal advice. Can someone explain this to me? Might be because the debtor owes me child support. Not sure what I need to do here. A: This notice (letter) means that a Chapter 7 Bankruptcy has been filed and

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hospital debt

Hospital Collections Question from a Visitor

Q: My wife and I received a summons concerning a hospital debt of $722.00 started by a collection agency. What can we do? A: What you can do is contact the agency or agency’s attorney. You can see if they are willing to settle the hospital debt for less than what you owe. Without knowing your full situation, this is probably your best option. However, if you have other debts,

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collection

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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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 Mortgage Lending Rules

Federal Government Announcing New Mortgage Lending Rules

In an effort to stabilize the future of our housing market, the government is announcing new mortgage lending rules. Although the new rules may decrease the number of loans made overall, they are necessary for this country. That is in order to maintain a stable housing market. According to the Chicago Tribune, “For most borrowers, the rules will mean no more interest-only mortgages, no more loans where the principal due

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The End of Mortgage Debt Relief Law could Hurt Home Prices

There are several things that can affect home prices and one of them is Mortgage Forgiveness Debt Relief Act. If President Obama and Congress fail to come to an agreement about how to resolve the fiscal cliff, the proposed tax hikes and reduced government spending will cause Floridians a whole host of new troubles. First, without action from Congress, the Bush tax cuts will expire on January 1st. The result

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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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