Archive for February, 2011

Will My Retirement Funds Be Protected If I File For Bankruptcy?

A major concern of many people considering bankruptcy is whether they may lose their retirement savings – whether the Chapter 7 or Chapter 13 trustee will take their retirement account and use the proceeds to pay off their creditors. There …

Short Sales Leaving Homeowners Facing Lawsuit On Unpaid Mortgage Balance

While many real estate brokers are telling homeowners that lenders are waiving their right to collect on a deficiency (unpaid balance) after a short sale, that is not always the case.  Borrowers should be cautious when agreeing to sell their …

The Right Time To File For Bankruptcy

When people struggling with debt start to think that they would probably need to file for bankruptcy, whether to get out of mounds of credit card debt, to stop harassing collector calls, or because a health condition let them with …

Is There Credit After Bankruptcy?

The simple answer is yes. More importantly, your financial health after bankruptcy can be better than ever! If you have been shying away from bankruptcy, thinking that it would permanently destroy your credit, think again. Making late payments and missing payments will adversely affect your credit rating, pulling you into a downward spiral. All that […]

Borders Group To Close Stores in Orange, Riverside, San Bernardino and San Diego Counties

Borders Group, the national retailer of books and related items, has announced plans to immediately close approximately 200 stores throughout the United States in connection with its Chapter 11 bankruptcy filing.   A total of 9 stores in the four southernmost …

Round Table Pizza Files For Bankruptcy Protection

Concord, California – based Round Table Pizza chain filed for bankruptcy reorganization this week, or Chapter 11 bankruptcy.  According to court documents, the chain owes $30 million on a $65 million line of credit, and $1.3 million to other creditors. …

Are You Attempting to Modify Your Home Loan But Need to File Bankruptcy? You Now Have More Rights!

There is good news for California homeowners having trouble negotiating with their mortgage lender during bankruptcy proceedings.  A recent Court of Appeals decision has held that a mortgage lender is obligated to follow through on a promise to negotiate a …

Executives’ Settlement no Real Help for Countrywide Foreclosure Victims

The California Attorney General’s office obtained court approval of a settlement with Countrywide Home Lending’s former CEO, Angelo Mozilo, and President, David Sambol, last week.  The settlement was for a collective $6.5 million to be paid into a “Foreclosure Crisis …

Creditor Abuse Alert! Avoid First Prime Bank’s Pre-Approved Credit Card Solicitations

Be careful when responding to the pre-approved credit card solicitations of subprime credit card issuer, First Prime Bank.  Recent reports indicate that that First Prime Bank is offering a pre-approved credit card with a 79.9% interest rate, annual fees of …

New Bankruptcy Plan Filed By WaMu

As part of its bankruptcy reorganization proceedings, Washington Mutual filed a new bankruptcy plan on Tuesday, which is expected to get the approval from the bankruptcy court. As stated in Sign On San Diego: Like the earlier proposal, the new plan …