What does “judgment proof” mean?
You might think that if someone is judgment proof, no one can get a judgment against them. No, that’s not correct. What Does “Judgment Proof” Mean? What it means is that even though a [...]
Do Wealthy People File Bankruptcy?
When most people think of bankruptcy they think of a person who is insolvent. “Insolvency” has two definitions for bankruptcy. One is the inability to pay your debts as they become [...]
Your Chapter 13 is Filed. No Time to Relax
If you filed Chapter 13, you might have done so because your car was recently repossessed or you’re facing foreclosure or some other financial disaster is imminent. Now that you’ve [...]
CAN I REFILE MY CHAPTER 13 AND HOW SOON?
Before 2005 debtors often became serial filers of Chapter 13. Faced with an imminent mortgage foreclosure they would file Chapter 13 to stop the foreclosure. The bank would get relief from the [...]
SHOULD I TALK TO MY LENDER DURING FORECLOSURE?
One reader asks, “Do I have to talk to my lender during foreclosure? We don’t plan to challenge the foreclosure. Should I send them a letter saying we don’t intend to abandon the house during the [...]
COSTS IN FORECLOSURE
What fees and costs am I required to pay in foreclosure and why? The fees and costs you are required to pay in a foreclosure are determined by what is in the promissory note and mortgage or trust [...]