Blog Posts in February, 2010
Posted on Feb 24, 2010 By Robert Kovacs
Yes settling a debt for less than you owe will save you money but it is not going to save you as much as you think. When you settle a debt with your credit card or other creditors for less than you ...
Continue reading "Settling a Debt for less than you owe can cost more than you think " »
Posted on Feb 24, 2010 By Robert Kovacs
As you may have heard there are several new credit card regulations. One such regulation prohibits banks from charging over draft fees unless you “opt in.” If you chose not to “opt in” to the service ...
Continue reading "New Credit Card Regulations – Opt in for Over Draft Fees " »
Posted on Feb 20, 2010 By Robert Kovacs
As soon as your bankruptcy case is filed with the Court the “automatic stay” comes into effect. The “automatic stay” is much what it sounds like, it happens automatically upon filing of your case and ...
Continue reading "I filed bankruptcy. When will creditors stop calling? " »
Posted on Feb 15, 2010 By Robert Kovacs
Individual debtors filing bankruptcy are required to complete both pre and post discharge counseling courses. Pre-filing counseling or “Credit Counseling” must be completed before the filing of ...
Continue reading "What is Bankruptcy Counseling? Pre-Discharge Education" »
Posted on Feb 11, 2010 By Robert Kovacs
In order for an individual to qualify for bankruptcy protection you must first complete Credit Counseling. Counseling can be completed on-line, over the phone, and in person. The counseling will take ...
Continue reading "What is Bankruptcy Counseling? Pre Filing Counseling " »
Posted on Feb 8, 2010 By Robert Kovacs
Chapter 13 bankruptcy is a payment plan. In chapter 13 the debtor makes a reasonable monthly payment based on his or her income and expenses . Whatever does not get paid back to creditors through the ...
Continue reading "If you are filing chapter 13 bankruptcy with careful planning you may be able to reduce your payment " »
Posted on Feb 3, 2010 By Robert Kovacs
If you owe the IRS or the Massachusetts Department of Revenue (“DOR”) back taxes then filing bankruptcy may help. Filing bankruptcy under chapter 13 or 11 will put you into an interest free repayment ...
Continue reading "If you owe the IRS or DOR filing bankruptcy will put you in an interest free payment plan " »
Posted on Feb 3, 2010 By Robert Kovacs
For most debtors filing under chapter 7, 11, 12, or 13 you are able to keep your tax return without surrendering it over to the case trustee or the estate. In bankruptcy you are able to exempt certain ...
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Posted on Feb 1, 2010 By Robert Kovacs
In order to protect an asset a person thinking about filing bankruptcy may transfer an asset out of her name and into the name of another. This can include a home, vacation home, car, boat, plan, ...
Continue reading "Common Bankruptcy Mistake – Transferring an asset out of your name " »