Predatory Loans: a/k/a Payday Loans / CashCall Short-Term Loans Online lender Western Sky Financial LLC has agreed to pay a $1.5 million fine and refund interest payments to borrowers under an agreement reached with New York Attorney General Eric Schneiderman, the Wall Street Journal reported today. Schneiderman had accused the Timber Lake, S.D.-based firm, along with affiliates […]
I ran across an interesting statistic. According to Sports Illustrated, approximately two years after retirement, the percent of NFL players bankrupt or financially stressed is a whopping 78 percent. This means more than 3/4 of players either can’t manage their money, or have people “in their corner” who choose not to manage their money well. Then there are […]
Bankruptcies –Consumer Debt vs Non-Consumer Debt (Chapter 7) There is still the belief among many that the 2005 amendments to the Bankruptcy Code make it more difficult for consumers to file for Chapter 7 bankruptcy protection. It is important to note that the majority of the 2005 amendments apply to consumer debtors and consumer debt. […]
The timing of filing your petition for a Chapter 7 Bankruptcy for Consumer debts is very important. Sometimes the difference of one day could disqualify you from meeting the means test eligibility. When you file for Chapter 7 Bankruptcy, there is a six (6) month look-back period from the specific date you file for bankruptcy […]
“It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay”. – Ralph Waldo Emerson Maybe the world owes more than it can pay with no possibility of every repaying. However, you don’t need to carry the weight of the […]
