How the North Carolina Foreclosure Process Works
North Carolina is a power of sale foreclosure jurisdiction. This means that unlike many other states in which a lender seeking to foreclose must go through a lengthy judicial process in order to regain collateral (your house), North Carolina lenders may foreclose through a private sale process. Let’s dig in and discuss what this North…Read more
How Much Does It Cost to File Bankruptcy?
Everyone preparing to file for bankruptcy wants to know the cost. After all, bankruptcy usually comes at a time when money is tight. Below, we’ll talk about filing fees, attorney fees, the cost of filing on your own versus filing with an attorney, and what your expected total bankruptcy cost might be. ContentsFiling Fees and…Read more
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Why Can Credit Card Companies Charge Such High Interest Rates?
How Can Credit Card Companies Charge Such High Interest Rates? Usury is defined as the act of lending money at an unreasonably high rate of interest. The practice is frowned upon almost universally and yet credit card companies continue to charge outrageous interest rates. How do they get away with it? At many points in…Read more
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Will a Chapter 13 Plan Look Better on My Credit Report Than Chapter 7?
Many people find it difficult to choose between Chapter 7 or Chapter 13 bankruptcy. Both have their advantages and disadvantages depending on your financial situation, but which one stays on your credit report longer? Does Chapter 13 look better to creditors long term as you try to improve your credit score? The short answer to…Read more
How Can a Chapter 13 Plan Be Modified Post-Confirmation in the Eastern District of Michigan?
Chapter 13 of the Bankruptcy Code provides for the adjustment of an individual’s debts, when the individual has regular income, by allowing the debtor to keep property and pay debts over time (usually three to five years) pursuant to a Plan. For information on Chapter 13 generally, see this site. In these uncertain economic times,…Read more
Denial of Discharge Due to Fraudulent Concealment of Property
The Sixth Circuit Court of Appeals has ruled on a debtor’s denial of discharge due to the Debtor fraudulently concealing property. A finding of fraudulent concealment must show that the debtor fraudulently concealed property of the Estate after the date of the filing of the Petition. The case In re: Doneta M. Beckham , the…Read more