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Bankruptcy in the Bible
Deuteronomy defines bankruptcy in the Bible. But the Bible also frequently mentions lending, fair pay, creditors, interest payments, and money in general. Let’s start out with one of Jesus’ most important messages before we take a look at the Old Testament. The Golden Rule You may know of the so-called Golden Rule from the Sermon on…
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Top 9 Financial Fears of Americans
An early 2016 study by insurance and investing behemoth Northwestern Mutual revealed some interesting insights into several issues impacting people’s long-term financial security. Here are the top 9 financial fears in America. The 9 Biggest Financial Fears for Americans Number One and Number Two on the list of biggest financial fears are really just the same thing:…
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Does Foreclosure Show Up on a Background Check?
Running a personal background check can tell a potential employer or landlord a lot about you. Today’s background checks include more than just your criminal record. Background checks also reveal prior addresses, previous employers, and your credit history. But does foreclosure show up on a background check? Foreclosure Will Appear on Your Background Check To…
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Tuition is Dischargeable in Bankruptcy
Section 523 of the Bankruptcy Code provides that student loans are not dischargeable in bankruptcy. But unpaid tuition is not a student loan. While it is extremely difficult to discharge student loans in bankruptcy, unpaid tuition is dischargeable in bankruptcy. 11 U.S.C. 523(a)(8) provides that, absent undue hardship, a debtor cannot discharge student loans. The…
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Will Partial Payments Delay Foreclosure?
If you have missed mortgage payments, you may wonder: Will partial payments delay foreclosure? In most cases, unfortunately, the answer is No. If your mortgage company actually accepts your payment, they will not apply it to your most recent bill. To stop or delay a foreclosure, you must get the bank to agree (in writing)…
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Getting Approved for a Car Loan After Bankruptcy
Getting approved for a car loan after bankruptcy can sometimes be a bit tricky. But it happens every day, and you can do it too if you follow the steps below. As of November 2016, six million Americans have stopped paying their car loans. So far this year, a record 32% of all vehicles offered…
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Missed Mortgage Payments: Your Options If You Default
If you have too many missed mortgage payments, your mortgage company will no longer accept payments from you. After too many missed mortgage payments (typically three), your lender will instead insist upon payment in full of the entire amount past due. The amount of missed mortgage payments, plus penalties and interest, is called the “arrearage.”…
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The Debt Snowball and the Debt Avalanche
I periodically review debt management books to see if there are any new methods that might be useful to my clients. I just finished the book Dear Debt: A Story About Breaking Up with Debt by Melanie Lockert. The book contains a few useful pieces of advice. But the most interesting section deals with the two…
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Hire Lee Legal to Defend Your Virginia Warrant in Debt
Going into court alone (or “pro se”) to defend a Virginia warrant in debt lawsuit can not only be intimidating. It can also cost you a lot of money. Here are five good reasons why you should hire Lee Legal to defend your Virginia warrant in debt lawsuit. 1. Send a Signal of Strength Retaining Lee Legal…
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Hire an Experienced Bankruptcy Attorney
Almost a year ago on December 1, 2015, major changes to the official bankruptcy forms took effect. One of the stated purposes of the changes was to make the forms easier. Unfortunately, the new forms did not accomplish that goal. The official bankruptcy forms are now actually more difficult to complete. Even more changes to…
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