Maryland’s courts adopted a rule to make it easier for homeowners in foreclosure proceedings to challenge lenders’ documents that they believe are fraudulent. The rule, approved by the Court of Appeals of Maryland today, can shift from homeowners to lenders the burden of proving documents are legitimate. Hundreds of inaccurate or fraudulent affidavits have turned […]
National Bankruptcy Research Center October 2010 Bankruptcy Filings Report The raw numbers suggest that bankruptcy filings in October rose slightly from the previous month (to 132,000 from 130,000). But that trivial increase suggests a substantial break in the upward trend of bankruptcy filings we have observed since passage of the bankruptcy reform statute in 2005. […]
New Median Family Income Numbers For Bankruptcy Effective November 1, 2010 The new median family income numbers used for determining whether a debtor can file a Chapter 7 bankruptcy went into effect today, November 1, 2010. The numbers are provided by the U.S. Census Bureau. The means test was one of the major changes that […]
explaination of how a mortgage in default can be cured or brought current in an chapter 13 bankruptcy repayment plan
New Study Suggests Credit Counseling is Beneficial for Bankruptcy Filers We’ve all heard clients complain about the pre-filing credit counseling requirement and ask why they have to jump through this hoop when they know they’re going to end up filing for bankruptcy anyway. In many cases, we may be inclined to agree: a client facing foreclosure […]
A report set to be published in the American Journal of Medicine in August, but already online, shows that more than 60 percent of personal bankruptcies filed in 2007 could be attributed to medical bills. The study also says that over 75 percent of those who filed for bankruptcy because of medical bills had […]
The Baltimore Homeownership Preservation Coalition is launching a campaign to warn struggling borrowers that some of the people promising to help them avoid foreclosure will only hasten it. The nonprofit, which will be joined by elected officials at an event today, doesn’t want homeowners to be scammed. It’s telling residents not to pay foreclosure-prevention firms […]
Revelations that attorneys at two Maryland firms had other people sign their names to foreclosure documents brought a rebuke Wednesday from the O’Malley administration, which called the practice a “potential example of further mishandling and mistreatment of Maryland homeowners.” Also on Wednesday, several borrowers’ lawyers said they have filed a class-action suit against one of […]
At the Maryland Bankruptcy Center, our lawyers are always trying to educate ourselves so that we can pass on important information to our Chapter 7 and Chapter 13 client’s. I saw this article on a great consumer bankruptcy website and I thought I would pass it on. Check it out. And if you have any […]
Over 1 million people file for personal bankruptcy each year. Unanticipated medical bills are a leading cause of personal bankruptcy. Other factors include job loss, divorce and high mortgage debt, and of course credit card over spending. Even though bankruptcy will remain on your credit record for up to 10 years, you can still bounce […]
