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Monthly Archives: October 2009

What Happens To My Car In a Chapter 13 Bankruptcy?

Published on October 20, 2009 by Kathleen Munden

When you file a Chapter 13 bankruptcy case, you must propose a plan to repay your creditors. Usually, your unsecured creditors (such as credit cards, personal loans, medical bills, and other debts for which no collateral is pledged) will be discharged without any payment. However, if you want to keep your secured assets, such [...]

Categories: Bankruptcy Basics, Chapter 13 Bankruptcy Comments (0) »

What Happens To My Car When I File a Chapter 7 Bankruptcy?

Published on October 19, 2009 by Kathleen Munden

When you file a Chapter 7 bankruptcy case, all creditor actions, including repossession of vehicles, is prohibited. In fact, if your vehicle has been repossessed shortly before the case is filed, it may be possible to force the creditor to return it. However, if you wish to keep your vehicle, you must bring the payments [...]

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Failure By Mortgage Companies To Modify Mortgages May Reawaken Bankruptcy Cramdown Legislation

Published on October 15, 2009 by Kathleen Munden

According to an article in the Journal of the American Bankruptcy Institute, the failure by mortgage companies to pursue voluntary modifications of mortgages may renew the push to allow judges to modify mortgages within bankruptcy cases. Since the “Home Affordable Mortgage Program” (HAMP) went into effect in March 2009, only about 360,000 homeowners have [...]

Categories: Bankruptcy Basics, Bankruptcy Cases and Legislation, Consumer Law Basics, Mortgage Dispute Topics Comments (0) »

Top 10 List of Consumer Complaints

Published on October 13, 2009 by Kathleen Munden

According to the National Association of Attorneys General, the top three topics for consumer complaints to state attorney general offices are debt collection, auto sales, and home repair/construction. Complaints regarding credit cards tied for fourth place with complaints regarding goods and services provided over the internet.
Complaints concerning predatory lending and mortgage practices were sixth, with [...]

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Pre-Paid Utility Meters Pose Danger to Consumer Rights

Published on October 9, 2009 by Kathleen Munden

Traditionally, utility service has been extended on credit, remained connected until a serious delinquency occurred, and would not be disconnected during severe weather or where elderly  or sick individuals were in the household. Pre-paid meters are now being introduced in several states, including Texas, and require cash up front to obtain and maintain service. When [...]

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Housing Crash Not Yet Over

Published on October 6, 2009 by Kathleen Munden

Amherst Securities Group analysts predict that the crash in U.S. home prices will probably resume because about 7 million properties that are likely to be seized by lenders have yet to hit the market. The “huge shadow inventory” reflects mortgages already being foreclosed upon or now delinquent and likely to be, which compares to 1.27 [...]

Categories: Consumer Law Basics, Consumer Law News Comments (0) »

Democrats Seek To Move Up Credit Card Reform Deadline

Published on October 1, 2009 by Kathleen Munden

Representatives Carolyn Maloney (D-N.Y.) and Barney Frank (D-Mass.) are proposing legislation that will advance the implementation date to December 1, 2009, for the regulations limiting credit card interest rates and fees. The regulations, approved by Congress and signed into law earlier this year by President Obama, were scheduled to take effect on February 22, 2010. [...]

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