The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the...
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At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both...
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Unfortunately, many lower income consumers lack any type of savings or reserve to address an unforeseen expense or temporary reduction in come. An auto repair of $400 can be an intimidating obstacle to someone who does not have any money set...
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As part of the bankruptcy consultation process, bankruptcy attorneys will want to review all of your creditor information. This will include any debts that you may want to keep, such as a house loan or car loan. A consumer will be required to...
Read moreTitle pawns have become an ever-growing percentage of consumer debt, as they are marketed as a short-term “quick fix” to a budget deficit. Presumably, these loans will allow the consumer to bridge the gap until payday, at which time the loan...
Read moreInternet lending is very commonplace nowadays, as many mortgage and auto lenders may rely substantially on information submitted via the internet to process loan applications. This reduces the amount of face-to-face time which may be necessary...
Read moreBankruptcy is often used as a method of foreclosure prevention, especially in Georgia where the foreclosure process is expedited compared to other states. However, over the last few years, more lenders have been willing to negotiate the terms of...
Read morePrevious blogs have discussed the mortgage modification options that are available to distressed homeowners, and the steps necessary to successfully accomplish a mortgage loan modification. Unfortunately, there appeared to be little incentive...
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Read moreEven the most vigilant, conscientious consumers may have to deal with a collection agency at some point. It could be because a bill was overlooked at some point. It may be because the consumer disputed the debt, and refused to pay the original...
Read moreRefund Anticipation Loans or “RAL’s” were originally marketed as “rapid refunds”, with the goal of expediting the receipt of income tax refunds for tax filers. What many filers believed was a refund was actually a loan made directly to the...
Read moreOur firm routinely meets with prospective clients who have encountered financial trouble after “cosigning” or “guaranteeing” a loan for a family member or friend that went into default. Many times they misunderstood the extent of their liability...
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