As the ancient Chinese proverb goes, “The best time to plant a tree was 20 years ago. The second best time is now.” The same can be said about preparing for your financial future. Whether you’re just starting out at age 22 or thinking about winding down in your 60’s, there is never a bad…Read more
Beware of mortgage fees after Chapter 13 bankruptcy
Homeowners will encounter an unusual accounting practice in the Chapter 13 bankruptcy process. This is the practice of mortgage servicers maintaining two separate sets of books while homeowners are in the Chapter 13 process. First, it is important to note that a Chapter 13 bankruptcy is a reorganization bankruptcy, in which you prioritize the payment…Read more
What happens to my co-signer if I file Chapter 13 bankruptcy?
When you file for Chapter 13 bankruptcy, it may be the case that you are, alone, solely liable for each and every one of your debts. Or it may be the case that you have one or more co-signers attached to your debt. What is a co-signer? A co-signer, or co-debtor, can be anyone who…Read more
Will bankruptcy help save my driver’s license?
Chapter 7 bankruptcy can be used to prevent your driver’s license from being suspended. It can also put you on a path to the reinstatement of a driver’s license after a loss or suspension as a result of a car accident. In Alabama, those determined to be at fault in a car accident may receive…Read more
Can I record a call from a debt collector?
The instinct to record a call from a debt collector is a good one. Recordings of telephone conversations with debt collectors have in many cases provided a sound basis for a Federal Fair Debt Collection Practices Act (FDCPA) lawsuit. However, when a client or potential client asks a bankruptcy attorney in Alabama whether he or…Read more
Who owns my mortgage?
The question of who exactly owns your mortgage is important to unravel when you are facing financial hardship. While you may initial presume that the company to whom you are sending monthly mortgage installment payments is the “owner” of your mortgage, this is, in fact, rarely the case. This post will discuss the documentation related…Read more
3 Ways to Improve Your Credit after Bankruptcy
Looking to put a bad credit history behind you? A successful discharge of your debt in a Chapter 7 or Chapter 13 bankruptcy proceeding is the best way to move forward from an unfavorable credit history. A bankruptcy discharge order granted by a Northern or Southern District of Alabama U.S. Bankruptcy Court makes it illegal…Read more
How to Stop a Wage Garnishment in Alabama
I know it probably just felt like a kick in the stomach when you found out about that wage garnishment from your employer. Of course, a wage garnishment never comes at a time when you have a lot of money sitting around. Most people are served with a notice of wage garnishment when they are…Read more
What is Mortgage Forbearance under the CARES act?
You could be missing out on mortgage forbearance opportunities under the CARES Act. Between the pandemic and subsequent economic consequences, there are plenty of people struggling with mortgage payments right now. In March of 2020, Congress passed, and President Trump signed the CARES Act into law. Amongst other things, the CARES Act has provisions that…Read more
Why You Should Never Pay Your Mortgage with a Money Order
Lenders earn millions of dollars in late payment fees. They are always eager to claim loan payments were received late and charge “defaulters” hefty fees. Additionally, it is very common that my Chapter 13 bankruptcy clients get into a dispute with their mortgage company over missed payments. On a recent occasion, I had a client…Read more