Distressed Maryland debt Certain states impose a heightened burden on debt collectors in order to regulate the collection of delinquent debt. In Maryland, investors in bad debt need to obtain a license to collect this debt; failure to do so may lead to violations of both federal and state consumer protection laws. The Maryland law […]
Foreclosures are amongst the most local kind of law there is: every state and county has its own procedure for allowing lien creditors the right to force a sale of property to pay down the debts secured by the real property in its jurisdiction. In judicial foreclosure states, the note holder files a lawsuit asking […]
This is a difficult question to answer because reaffirmation defeats the whole point of most bankruptcy cases, which is to obtain a discharge of your debt. By reaffirming any given debt, even though you’ve received a discharge in bankruptcy the reaffirmed debt survives discharge and if you default later you can be sued, the creditor […]
Atlanta-based mortgage servicer Ocwen Financial is a player in hundreds of thousands of homeowner bankruptcies each year, and for a good reason: Ocwen services mortgages worth over $82 billion. Ocwen’s primary clients are the major mortgage lenders: BNY Mellon, Citibank, Deutsche Bank, HSBC, US Bank, and Wells Fargo. These investors are apparently furious with Ocwen […]
Exemptions are available without bankruptcy Sometimes clients need to delay fiiling bankruptcy. This delay may result for a number of reasons, including that you want to let certain taxes become dischargeable, you may want to wait until after the preference period has expired, or for some other timing reasons. Unfortunately, if judgment creditors are seizing […]
To complete your Maryland bankruptcy schedules and forms, you’ll need to know whether you owe contingent, liquidated or disputed claims. Let’s talk about the meaning of the first term: a contingent claim. A contingent claim is a liability that is not certain to occur and, actually, could occur only when a specific event happens. For […]
There’s nothing typical about Maryland bankruptcy cases. Each case is different based upon the client’s income, expenses, assets and debts. Many people have defaulted on their bills for months or even years before they file for bankruptcy. Others struggle from month to month making mimimum payments and have credit scores in the 700s. Whether you’re […]
When you’re completing Baltimore County bankruptcy schedules and forms, you have to answer whether any of your claims are contingent, liquidated, or unliquidated claims. Unliquidated claims are also known as disputed claims. The bankruptcy schedules and forms for Delaware, Maryland, Pennsylvania, or Virginia bankruptcies all ask you to provide this information. So let’s talk about […]
Trustee Scrutinizing Bankruptcy Case When my clients ask, “Why is the trustee looking so closely at my bankruptcy case?” I tell them about trustee appointments. Chapter 7 trustees are private attorneys appointed to a panel by the Department of Justice. Trustees are paid only $65.00 per case according to statute and that is the full […]
Difference : Dismissal and Discharge I want you to understand the difference between a bankruptcy dismissal and a bankruptcy discharge. When you’ve filed for bankruptcy, whether in Maryland, Pennsylvania or elsewhere, discharge is the desired outcome of your filing. A bankruptcy discharge occurs when you have done everything you’re supposed to do. The court enters […]
