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Debt settlement a bad alternative to bankruptcy

Debt settlement a bad alternative to bankruptcy | Bankruptcy Atlanta News | Scoop.it
Debt settlement isn’t the Wild West industry it was a decade ago, when people routinely paid hefty upfront fees to companies that failed to deliver any relief.
Jonathan Ginsberg's insight:

When #debtsettlement is a poor alternative to #bankruptcy

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7 Things To Know About Old Debt After Recent Supreme Court Ruling

7 Things To Know About Old Debt After Recent Supreme Court Ruling | Bankruptcy Atlanta News | Scoop.it

In a 5-3 decision handed down on May 15, the Supreme Court of the United States held that the federal Fair Debt Collection Practices Act (FDCPA) is not violated when a debt collector files a proof of claim for a debt subject to the bar of an expired limitations period.

Jonathan Ginsberg's insight:

Now there's even less reason to assume that debt collectors are telling you the truth.

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Who files for bankruptcy? The answer will surprise you

Who files for bankruptcy? The answer will surprise you | Bankruptcy Atlanta News | Scoop.it
Many people feel guilty about filing for bankruptcy, but the reason they file is often beyond their control.
Jonathan Ginsberg's insight:

What are the main causes of personal #bankruptcy?

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Lenders May Look at Your Social Profiles to Judge Your Creditworthiness

Lenders May Look at Your Social Profiles to Judge Your Creditworthiness | Bankruptcy Atlanta News | Scoop.it
It’s not just your FICO score that matters to lenders. More companies are popping up that offer social data to help lenders, landlords, and other providers gauge your creditworthiness. In other words, they use your online presence to make decisions about your application.
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Student Loans to Advance a Career Are Classified as Non-Consumer | ABI

Student loans may not be considered as consumer debt for means test purposes.

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The Stuff That Costs More When You're Poor

The Stuff That Costs More When You're Poor | Bankruptcy Atlanta News | Scoop.it
Spend less than you earn, save your money, and—poof!—your financial problems are solved. If only it were this easy. Being broke sucks enough on its own, and then there are obstacles that make it extra hard for poor people to fight their way to financial security. For example, here are a few expenses that actually cost more for low-income individuals.
Jonathan Ginsberg's insight:

Folks on a tight budget often face higher costs on staple items - http://goo.gl/n8PkA1

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7 common bankruptcy misconceptions that stop people from getting help | Consumer

7 common bankruptcy misconceptions that stop people from getting help | Consumer | Bankruptcy Atlanta News | Scoop.it
PERHAPS you’ve considered filing bankruptcy but in the back of your mind, you have one or two questions that you’ve always been afraid to ask. In counseling thousands of people over the years in my practice as a bankruptcy attorney, I have found
Jonathan Ginsberg's insight:

Common misconceptions about personal bankruptcy.

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SCOTUS to Decide What Congress Meant by “Actual Fraud”

In Husky International Electronics, v. Ritz, courts agreed actual fraud must be based on showing the debtor made a false representation to the creditor
Jonathan Ginsberg's insight:

The Supreme Court's ruling in Husky International v. Ritz could have significant implications in the consumer bankruptcy area.

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U.S. Attorney Charges Woman with Bankruptcy Crime for Filing False Statements

U.S. Attorney Charges Woman with Bankruptcy Crime for Filing False Statements | Bankruptcy Atlanta News | Scoop.it
Jonathan Ginsberg's insight:

This is an example of the type of #bankruptcyfraud case that will be pursued by a U.S. Attorney

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How to Qualify for a Car Loan While in Ch. 13

How to Qualify for a Car Loan While in Ch. 13 | Bankruptcy Atlanta News | Scoop.it
Chapter 13 debtors can incur new debt for major purchases like motor vehicles if they first get permission from the bankruptcy judge. 
Jonathan Ginsberg's insight:

How to gain approval for financing a replacement vehicle while still in #bankruptcy

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The Real Reason College Tuition Costs So Much

The Real Reason College Tuition Costs So Much | Bankruptcy Atlanta News | Scoop.it
It’s not because states have cut funding for higher education.
Jonathan Ginsberg's insight:

Why are #collegetuition costs going up, resulting in an explosion of #studentloan debt?  The answer may surprise you.

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Sued Over Old Debt, and Blocked From Suing Back

Sued Over Old Debt, and Blocked From Suing Back | Bankruptcy Atlanta News | Scoop.it
Debt buyers are using the courts to sue consumers and collect debt, then preventing those same consumers from using the courts to mount a challenge.
Jonathan Ginsberg's insight:

This is why you should never ignore a #lawsuit #debtbuyers #zombiedebt #debtcollectiondefense

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All the Ways Bad Credit Can Make Your Life Difficult

All the Ways Bad Credit Can Make Your Life Difficult | Bankruptcy Atlanta News | Scoop.it
Anyone who has had bad credit knows that it can be a huge pain in the butt. Oh sure, it doesn’t seem to affect your day-to-day too much. But when it comes time to get a car, or fill out a rental application, that crappy credit score comes back to haunt you. Here are a few disadvantages of having poor credit, and what you can do about it.
Jonathan Ginsberg's insight:

How #badcredit can negatively impact your life - http://bit.ly/1KXEVdh

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Buy A Home With A VA Loan After Bankruptcy

Buy A Home With A VA Loan After Bankruptcy | Bankruptcy Atlanta News | Scoop.it
Experiencing a Chapter 7 or a Chapter 13 bankruptcy doesn't mean that you'll lose your hard-earned VA benefits, including access to the VA home loans.
Jonathan Ginsberg's insight:

#VAloans after filing #bankruptcy http://bit.ly/1Q5dB4P

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Penalty owed to a governmental unit is dischargeable in Chapter 13 - but not Chapter 7 - bankruptcy, even if it arises from fraud | Lexology

Penalty owed to a governmental unit is dischargeable in Chapter 13 - but not Chapter 7 - bankruptcy, even if it arises from fraud | Lexology | Bankruptcy Atlanta News | Scoop.it
The scope and extent of debts that may be discharged is an often litigated issue in bankruptcy. In a recent Chapter 13 case in the U.S. Bankruptcy…
Jonathan Ginsberg's insight:

#civilpenalty owed to government agencies may be #dischargeable in #bankruptcy

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The $265 Billion Bill That's Coming Due for Homeowners

The $265 Billion Bill That's Coming Due for Homeowners | Bankruptcy Atlanta News | Scoop.it
Brace yourself.
Jonathan Ginsberg's insight:

Will HELOC resets result in an increase of #bankruptcy filings?

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Bankruptcy Trustees Claw Back College Tuition Paid for Filers’ Kids

Bankruptcy Trustees Claw Back College Tuition Paid for Filers’ Kids | Bankruptcy Atlanta News | Scoop.it
Several schools have paid up in an attempt to avoid lawsuits.
Jonathan Ginsberg's insight:

This is a disturbing trend and will result in additional financial burden to college graduates and their parents. #bankruptcy #chapter7trustee

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Ask for a "Validation Notice" to Expose a Debt Collection Scam 

Ask for a "Validation Notice" to Expose a Debt Collection Scam  | Bankruptcy Atlanta News | Scoop.it
If you’ve been in debt for a while, you’ve likely received plenty of annoying phone calls from debt collection agencies. But not all of these calls are legit. If you’re not careful, you could fall for a debt collection scam. When talking to a collector, make sure to ask for a “validation notice.”
Jonathan Ginsberg's insight:

Scammers often target people in #debt.  If the collector refuses to provide validation, the call is either a scam or a violation of the #FDCPA.  Either way, don't send any money.

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Is Now the Time For You to Start Closing Credit Card Accounts?

Is Now the Time For You to Start Closing Credit Card Accounts? | Bankruptcy Atlanta News | Scoop.it
You might be surprised to find out there are times when closing your credit cards can be a good thing.

Via Shawn White
Jonathan Ginsberg's insight:

Experts have said for years that you should never close a #creditcard account - especially if you have a good payment history.  But is this advice always true?  #credit

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Statute of Limitations in Georgia for Credit Card Debt

Statute of Limitations in Georgia for Credit Card Debt | Bankruptcy Atlanta News | Scoop.it
In Georgia, credit card companies have but 6 years to sue you for unpaid credit card debt. But a wrong move could extend the statute.
Jonathan Ginsberg's insight:

The law regarding #statutesoflimitation for #creditcarddebt in #georgia is not entirely clear.

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What is a Bankruptcy Preference and Should I Worry About It? - YouTube

One of the more misunderstood provisions of the Bankruptcy Code arises from Code Section 547 which discusses the question of preferences. A preferential paym...
Jonathan Ginsberg's insight:

Here is a brief explanation of #preferences in #bankruptcy.

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Debts Canceled by Bankruptcy Still Mar Consumer Credit Scores

Debts Canceled by Bankruptcy Still Mar Consumer Credit Scores | Bankruptcy Atlanta News | Scoop.it

#The practice, under investigation by the Justice Department, affects tens of thousands of Americans, impairing their ability to secure housing and jobs.

Jonathan Ginsberg's insight:

#zombiedebt remains a problem

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Justices Taking Up Disputes Over Underwater Mortgages

Justices Taking Up Disputes Over Underwater Mortgages | Bankruptcy Atlanta News | Scoop.it
The U.S. Supreme Court on Monday agreed to dip into the problems faced by banks and homeowners with underwater mortgages in two bankruptcy cases brought by B...
Jonathan Ginsberg's insight:

Use Chapter 7 to eliminate your 2nd mortgage? Supreme Court to consider legality of #lienstripping in #chapter7 bankruptcy

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Press for Maximize My Social Security | Maximize My Social Security

Jonathan Ginsberg's insight:

Excellent resource for understanding how to get the most benefit from Social Security

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Why Enrolling in a Credit Counseling Program Can Hurt Your Credit Score - Get Out of Debt Guy

Why Enrolling in a Credit Counseling Program Can Hurt Your Credit Score - Get Out of Debt Guy | Bankruptcy Atlanta News | Scoop.it
I keep seeing information around the web by credit counseling companies saying that enrolling in a credit counseling program does not hurt your credit score. I believe the reason they say this is because the enrollment into the credit counseling program is not viewed as a negative entry in the calculation of the credit score. ...
Jonathan Ginsberg's insight:

#creditcouseling will hurt your #creditscore despite what some vendors say.  #steverhode explains why.

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Curated by Jonathan Ginsberg
Atlanta Bankruptcy Attorney Expertise in Social Security and Workers Compensation