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The cornerstone of the federal bankruptcy law is the discharge at the end of the debtors case. The discharge provides the debtor with a new opportunity for a fresh financial start without the encumbrance of overwhelming debt. But a fresh start is not possible if the debtor continues to be penalized by past financial mistakes. Consequently, the federal law not only forbids a creditor from seeking to collect on a discharged debt, it also directs credit reporting agencies to report the debt accurately to avoid any indirect penalty.

The Fair Credit Reporting Act (FCRA) is a federal law that directs the collection and use of consumer credit information by credit reporting agencies. The FCRA contains two powerful provisions that debtors should know after receiving a bankruptcy discharge.

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Tags: Bankruptcy

As you can see by the front page of this website, we’re here to give you as much information as is possible in this digital format.

First of all, not all financial problems require a bankruptcy solution.  Many dips into the “valleys” of life, where challenges first appear as insurmountable, are quickly and easily handled by just more knowledge about what to do.  Knowledge is indeed power, power to overcome difficulties as a result of knowing about courses of action that will predictably lead to reliable solutions.

Our law firm focuses on Chapter 7 and Chapter 13 debt relief and invites anyone who is spending too much time dealing with creditors, and not enough time dealing with the next steps to financial recovery, to call or email to discuss your individual circumstances.

Tags: Bankruptcy, Bankruptcy Predictable

Last month, our blog discussed the historic $25 billion settlement agreement between the attorneys general of more than 40 states, federal officials and five major mortgage lenders (Wells Fargo, JPMorgan Chase & Co., Bank of America, Ally Financial and Citigroup) concerning widespread abuses in the mortgage industry and fraudulent foreclosure practices.

Specifically, the $25 billion settlement — and accompanying $766.5 million in fines — represented the culmination of a lengthy investigation by federal officials and state attorneys general into whether the aforementioned banks relied upon faulty procedures (i.e., improper document review, falsified signatures and use of “robo-signers”) to foreclosure upon thousands of homes.

In recent developments, the Federal Reserve announced earlier this week that another eight banks/mortgage lenders are now facing fines — the amount as yet unannounced — for improper foreclosure procedures.

• EverBank
• Goldman Sachs Group Inc.
• HSBC Holdings PLC’s U.S.

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