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MEETING OF CREDITORS – NOTHING TO FEAR

The Meeting of Creditors, also called the 341 Hearing, is where you meet with the trustee (not the judge) in your bankruptcy case. Creditors may attend but usually do not. The primary purpose of this hearing is to give the bankruptcy trustee the opportunity to ask you...

Consumers Could See Credit Scores Go Up

A report from the Consumer Financial Protection Bureau earlier this year suggested that credit reporting agencies should improve the accuracy of their reports and update their records more often.  Beginning July 1st, changes will be underway. FICO, the entity that...

Mortgage Company Violating Discharge Injunction

All too often a client completes a chapter 13 bankruptcy and immediately receives a letter from the mortgage company that the mortgage payment is still behind. This could be a violation of the bankruptcy discharge injunction by the mortgage company. It could lead to a...

Strip Off Junior Mortgage in Chapter 7?

The United States Supreme Court yesterday ruled that someone in chapter 7 bankruptcy cannot “strip off” a second or junior mortgage even if there is no value in the property securing the mortgage. An article about the case is available here.  Those of you...

Chapter 13 Funds On Hand at Conversion

So you filed chapter 13 bankruptcy but later decide to convert your case to a chapter 7 case. What happens to the money that the chapter 13 trustee is holding in your chapter 13 account? Before now there was a difference of opinions among chapter 13 trustees, and...
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