As of April 1, the new Means Test tables are coming out: Family size 1: $60,429 2: $74,131 3: $83,396 4: $100,476 What this means is that if you believed you wouldn’t qualify to file bankruptcy due to your income, think again! The numbers are going up tomorrow!
By now everyone (our attorney friends) has probably watched a CLE on the new DOJ Guidance to discharge federal student loans, but do you really understand how to do the process? We are on a panel set up by the Bransons in Orlando doing an all-day workshop via Zoom on…
Home sellers and home buyers are likely both waiting for some kind of change in the financing markets right now. Those homeowners locked in with low rates do not wish to sell, but cannot maintain a standard of living with their current income and increased expenses. They may not qualify…
Stuck in a timeshare (or nowadays they are called vacation clubs or vacation ownership plans) you can’t get out of? You can get rid of a timeshare in a bankruptcy. If the timeshare is a contract agreement for points etc., then the contract can be rejected as an executory contract. …
Something going around one of the listserves I monitor daily is how debt settlement or debt consolidation companies are a sham. The facts for this one: (by the way, the client provided a copy of the written agreement to the attorney so the fees and proposed settlement amounts were verified)…
You can bounce back from bankruptcy way more quickly than you think. For instance, debtors who file bankruptcy can qualify for an FHA loan in as few as two years, or a conventional loan four years after filing. What about credit scores? They can and frequently do go up right…
The Economic Injury Disaster Loan (EIDL) program is a loan and grant program offered by the U.S. Small Business Administration (SBA) to help small businesses and non-profit organizations recover from economic injury caused by a declared disaster. The EIDL program provides two types of financial assistance: EIDL loans and EIDL…
The Brunner standard is a legal test used in certain circumstances to determine whether a borrower’s federal student loans can be discharged in bankruptcy. The test was established by the U.S. Supreme Court in the case of Brunner v. New York State Higher Education Services Corp. (1987). The Brunner test…
There are several ways to discharge federal student loans, including: Total and Permanent Disability (TPD) discharge: If you are completely and permanently disabled, you may be eligible for TPD discharge. Death discharge: If the borrower of a federal student loan dies, the loan may be discharged. Closed School discharge: If…
The average auto loan interest rates reported by DealerTrack are getting crazy high – hitting a decade high now: New cars: 8.41% Used cars: 12.88% Credit Unions are still around 4% -6% so that may be the best option for now. As bankruptcy attorneys, there are some cautionary tales involving…