Student Loan Relief?

April 12, 2009

A new report released Thursday on the private student lending industry offers a bit of deja vu. The report entitled “Too Small To Help: The Plight of Financially Distressed Student Loan Borrowers,” notes regretfully that “unlike the lenders that made these loans” — potential beneficiaries of the government’s TALF and TARP bailouts — “the borrowers [...]

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NEW LAW ALLOWS OREGON ATTORNEY GENERAL TO GO AFTER ILLEGAL DEBT COLLECTORS

April 12, 2009

A new law will allow the Oregon Department of Justice to crack down on debt collectors who illegally harass Oregonians. Legislation to reign in debt collectors has failed repeatedly in the past, including the last two legislative sessions. The new Attorney General came into office in January vowing to make the bill a top priority. [...]

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Transfering Money to Friends and Family

February 12, 2009

Anyone contemplating a bankruptcy filing should avoid repaying debts to family and friends prior to filing their bankruptcy petition. Failure to do so can lead to disaster.   As a general rule, anything repaid to a relative or friend within a year period prior to filing a bankruptcy case can be recovered by the Bankruptcy [...]

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bankruptcy portland oregon

January 25, 2009

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Requesting a Mortgage Modification

January 21, 2009

If you want to successfully obtain a modification of your mortgage from your lender, it is imperative that you get all your ducks in a row before making your request. In summary you need to prepare a monthly budget, determine the duration and type of loan that you will need, get all the financial documents [...]

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Senate Cutting Through Mortgage Industry Resistance to Bankruptcy Reform

January 8, 2009

Plan to Cut Foreclosure Rate Clears Key Hurdle By ELIZABETH WILLIAMSON and RUTH SIMON WASHINGTON — A Senate bill aimed at giving strapped homeowners more leverage in renegotiating their mortgages cleared a hurdle Thursday whenCitigroup Inc. dropped its opposition. The legislation, which is being advanced by top Senate Democrats, would let judges set new repayment terms for mortgage holders [...]

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Giving Bankruptcy Courts the Ability to Change Your Mortgage

January 1, 2009

The Wall Street Journal December 31, 2008    Mortgage ‘Cram-Downs’ Loom as Foreclosures Mount    By MICHAEL CORKERY    Mortgage lenders who wake up Thursday with a New Year’s hangover are likely to face another headache soon: The effort to give bankruptcy judges the power to rewrite mortgages is gaining steam.    The banking industry [...]

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Seek Professional Help

December 28, 2008

Your lender is now foreclosing your home.  What’s the first step?   Do you file for bankruptcy?  Do you defend the foreclosure action? Do you look ask for a modification or contact the workout departent of your lender? All of the above are valid ways to confront a mortgage default.  There are any number of reasons [...]

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How Do I Know that I Need to File Bankruptcy?

December 26, 2008

 Do you know the warning signs of too much debt?  If you answer “Yes” to any of the questions below,  you are probably already in financial trouble whether you realize it or not and need to find out what your options are.  Do not allow yourself to be lulled into a false sense of security just [...]

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What is a Bankruptcy Discharge?

December 25, 2008

Unless for some reason a general discharge of debts is denied, the Court typically enters an order which grants a discharge to the person(s) named as the debtor(s). A discharge in bankruptcy eliminates a debtor’s legal obligation to pay debts that are discharged. The granting of a discharge is not a dismissal of the case [...]

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