In accordance with bankruptcy laws, child support obligations and alimony payments established in a state divorce decree are not dischargeable in a bankruptcy filing. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) passed by Congress in 2005 has broadened the scope of divorce-related obligations that cannot be cancelled in the bankruptcy process. Specifically, these bankruptcy laws now refer broadly … Read More
RGG Law Tackles 5 Myths Concerning Bankruptcy Law
Bankruptcy is not something most people consider with eagerness. It is a last resort, to be sure, but the correct choice for many individuals and families needing a fresh financial start. Much of the fear surrounding bankruptcy is based upon myths and misconceptions about bankruptcy law. Below are five common bankruptcy myths that can be easily dismissed. Bankruptcy Law Myths … Read More
How to Get a Credit Report When Filing Bankruptcy
When preparing bankruptcy schedules, it can be quite a project to identify and provide contact information, including account numbers, for all creditors. Yet, it is essential for people filing bankruptcy to provide a complete and accurate list of their creditors. Among other things, the bankruptcy court cannot mail a notice to creditors after you finish filing bankruptcy if, at a … Read More
News From Our Bankruptcy Lawyers: Mortgages Look Better in 2015
According to the latest Equifax National Consumer Credit Trends Report, the total balance of write-offs for first mortgages, home equity loans and home equity lines of credit was $12.34 billion in the first quarter of 2015. This is a decrease of 32.6 percent from the first quarter of 2014. Some of this may have to do with an increase in … Read More
Payday Loan Regulations Could Result in Less People Filing Bankruptcy
According to reports from Reuters published in Consumer Bankruptcy News on March 26, 2015, the United States Consumer Financial Protection Bureau (CFPB) has outlined new plans to crack down on the payday lending industry with a goal of ensuring that borrowers have a reasonable chance to repay their loans. The framework is considered a key step toward new rules for … Read More
Tips for Filing Bankruptcy: Beware of Credit Repair Scams
Those with challenging financial problems are often targeted by scam artists and fraudsters posing as legitimate credit repair companies or credit counseling organizations. Sometimes it’s important when deciding on filing bankruptcy to check your credit score. While there are legitimate groups out there who do actually help troubled debtors, you must be wary. Indeed, in a recent case the con … Read More
Consumers Owe Nearly $12 Trillion in 2014
Consumers owed $11.83 trillion as of the end of 2014, according to the Household Debt and Credit Report produced by the Federal Reserve Bank of New York. Total debt increased by $306 billion during 2014, according to the report which is based on data from the New York Fed’s Consumer Credit Panel. This could potentially lead to more people filing … Read More
Chapter 13 Bankruptcy Cannot Modify Secured Debts on Mobile Homes
Changes in the law relating to titling of manufactured homes have recently been made in Missouri. This affects the way filing Chapter 13 bankruptcy alters or doesn’t alter your mobile home debt. 442.015.1 of the Missouri Revised Statutes now specifically state that “for the purpose of 11 U.S.C. § 1322 (b)(21), a manufactured home shall be deemed to be real … Read More
Bankruptcy Lawyers Update: Changes in Mobile Home Titles
Changes in the law relating to titling of manufactured homes have recently been made in Missouri. These laws affect a mobile home owner’s potential bankruptcy claim. RGG Law bankruptcy lawyers explain. 442.015.1 of the Missouri Revised Statutes now specifically state that “for the purposes of 11 U.S.C. §1322 (b)(21), a manufactured home shall be deemed to be real property”. Under … Read More