Recent Posts in credit cards Category
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Posted on Aug 1, 2011 By Regina King
Millions of consumers in America are contemplating bankruptcy to discharge their overwhelming debts. But once you file bankruptcy your credit score might drop temporarily. Therefore, people who are ...
Continue reading "How can you reestablish your credit score after declaring bankruptcy?" »
Posted on Jan 14, 2011 By Joseph Tosti
Foreclosures have been getting a lot of media attention lately, but credit card debt probably accounts for more bankruptcies than foreclosures. And a lot of people who fall behind on mortgage payments ...
Continue reading "Credit Cards and Bankruptcy" »
Posted on Jan 10, 2011 By Joseph Tosti
Holidays are wonderful… and sometimes, some parts, not so wonderful. Some of us know this because we are barely now relaxing from the rush to prepare, having battled traffic and crowds and lines in ...
Continue reading "After the Holidays — Now Comes the Hard Part" »
Posted on Jan 7, 2011 By Joseph Tosti
People frequently ask whether they can file a bankruptcy case without their spouse. The simple answer is yes. The complicated answer is that your spouse matters for several reasons. Let's assume that ...
Continue reading "Can I file bankruptcy without my wife? Can I file bankruptcy without my husband?" »
Posted on Jan 6, 2011 By Joseph Tosti
Yesterday’s Wall Street Journal published an opinion piece by George Mason University law professor Todd Zywicki entitled Dodd-Frank and the Return of the Loan Shark . If you do not subscribe to the ...
Continue reading "The 2009 Credit CARD Act – Does it Do More Harm than Good?" »
Posted on Jan 4, 2011 By Joseph Tosti
No one wants to file bankruptcy. No one does it for fun. It's like going to the dentist (or proctologist, or urologist-take your pick). You do it only because you need to, and it will improve your ...
Continue reading "Should Bankruptcy Be One of Your New Year’s Resolutions?" »
Posted on Dec 27, 2010 By Joseph Tosti
Gov. David Paterson has signed a bill that gives more protection to New Yorkers who file bankruptcy or who have been sued by bill collectors. The new law increases the exemptions that people can use ...
Continue reading "Outgoing Governor Paterson Gives New York Debtors Something to Cheer About!" »
Posted on Dec 26, 2010 By Joseph Tosti
In earlier posts, two bankruptcies filed by debtors appearing in Bravo Television reality shows were discussed. Terese Giudice who appears on Real Housewives of New Jersey and Sonja Morgan who appears ...
Continue reading "Bankruptcy Basics: Bankruptcy Fraud can lead to Truth or Consequences" »
Posted on Dec 22, 2010 By Joseph Tosti
Unusual situations often show up in bankruptcy court eventually. And sometimes they contain both humor and depression in equal measure. Recently the 8th Circuit Bankruptcy Appellate Panel was called ...
Continue reading "A Horse Trailer is Not a Home" »
Posted on Dec 13, 2010 By Joseph Tosti
This is a wonderful time of year, a time for giving thanks, for counting blessings, for sharing joy and for giving to others. The natural desire to express our love through gifts burns strong in our ...
Continue reading "Credit Cards and the Christmas Holidays – a Dangerous Combination" »
Posted on Dec 13, 2010 By Joseph Tosti
Being in bankruptcy means remembering priorities. A big priority is keeping a roof over your head. As I have in the past , I will suggest that this is even more important than Christmas. If you have ...
Continue reading "Christmas and Mortgage Payments: Don’t Confuse Priorities!" »
Posted on Dec 2, 2010 By Joseph Tosti
What happens to a co-debtor when a debtor files for bankruptcy depends upon the type of case that is filed. Many clients come to my office relieved to find out that a bankruptcy stays proceedings ...
Continue reading "How Does Bankruptcy Impact A Co-Debtor?" »
Posted on Nov 17, 2010 By Joseph Tosti
If you're paying minimum payments on credit card debt and have nothing saved for retirement, you are my favorite candidate for bankruptcy. The most compelling reason to file bankruptcy is so you can ...
Continue reading "Best Reason To File Bankruptcy" »
Posted on Nov 12, 2010 By Joseph Tosti
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 ...
Continue reading "2010 Bankruptcy Filings Up 14%" »
Posted on Nov 9, 2010 By Joseph Tosti
Proprietary mortgage modifications, not HAMP mortgage modifications, lead the way according to HOPE NOW Loan Mod statistics. 120,000 modifications have been done by the mortgage companies themselves, ...
Continue reading "Mortgage Modifications Fail To Slow Foreclosure Rate" »
Posted on Nov 4, 2010 By Joseph Tosti
If you're running a business, filing bankruptcy involves preparing a profit and loss statement. While this subject isn't terribly interesting or sexy, it's critically important to preparing accurate ...
Continue reading "Profit and Loss Statements for Bankruptcy" »
Posted on Nov 1, 2010 By Joseph Tosti
As a consumer bankruptcy attorney who has spent the better part of the last 15 years counseling individuals contemplating bankruptcy, I can tell you that one of the things I see on a daily basis is ...
Continue reading "Bankruptcy Is Not Failure – It’s Financial Planning" »
Posted on Oct 26, 2010 By Joseph Tosti
Most people would like to avoid bankruptcy if they can. Sometimes alternatives are worth trying, but it pays to know the risks. A good bankruptcy lawyer never pushes someone into bankruptcy but, ...
Continue reading "Alternatives to Bankruptcy" »
Posted on Oct 21, 2010 By Joseph Tosti
Banks do not want to go to trial in mortgage foreclosure cases . Judges and the Wall Street Journal still do not get it. Banks want to avoid trial because trial shines a light on the facts of a case. ...
Continue reading "Why Banks Robo-Sign Mortgage Documents." »
Posted on Oct 11, 2010 By Joseph Tosti
Growing case law suggests that debtors should hope the bankruptcy court does not approve their car reaffirmation agreement . Huh?, you say. If you've agreed to reaffirm, and essentially waive the ...
Continue reading "Reaffirmation Agreements- Drive Happily into Sunset" »
Posted on Oct 4, 2010 By Joseph Tosti
You can't turn on a radio or watch TV without hearing or seeing commercials for debt settlement companies that suggest that they are a better choice than bankruptcy. Many, including myself, believe ...
Continue reading "Why Bankruptcy Is A Better Choice Than Debt Settlement? A Case Study!" »
Posted on Oct 4, 2010 By Joseph Tosti
Bankruptcy lawyers and their clients are plagued by the Brunner test when trying to discharge student loans. While the Bankruptcy Code says that student loans may be discharged if the debtor shows ...
Continue reading "Bankruptcy Appellate Panel Gets Student Loan Test Right" »
Posted on Sep 29, 2010 By Joseph Tosti
Reaffirmation agreements have been the source of significant debate since the bankruptcy amendments of 2005. One issue that strikes fear in the hearts of debtor's counsel is whether to allow a client ...
Continue reading "Credit Scores And Reaffirmation Agreements" »
Posted on Sep 22, 2010 By Joseph Tosti
Many Chapter 7 bankruptcy debtors worry that they will loose all their belonging, including their "valuable collectibles". Depending on how you look at it, many debtors turn out to be lucky because ...
Continue reading "Bankruptcy and Collectibles … What Can You Keep?" »
Posted on Sep 13, 2010 By Joseph Tosti
For the fiscal year 2010 ending June 30, 2010, over 1.5 million bankruptcy cases were filed in the United States. For the American people, that is a remarkable rate of one case every 20 seconds. Since ...
Continue reading "One American is filing bankruptcy every 15 seconds" »
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