New Life

Do not max out your credit cards before filing for bankruptcy

May 17th, 2013 by mmckeever

You might be in for a rude surprise if you max out your credit cards right before you want to file bankruptcy. If you are thinking of filing for bankruptcy, the bottom line is that you should do not go out and run up your credit cards right before filing.  Many times I have...

Bankruptcy can be a lifeline when you are drowning in debt.

May 2nd, 2013 by mmckeever

I recently received a compliment from a satisfied Chapter 7 client .  He thanked me for the hard work on his bankruptcy and told me that I had given him and his wife a “lifeline”.  Instead of feeling despondent, they took control of their financial situation, discharged their debts and are now looking forward...

Mortgage Debt Relief Act extended

January 6th, 2013 by mmckeever

Good news for homeowners considering short sales or facing foreclosure!  As part of the fiscal cliff negotiations, Congress extended the Mortgage Debt Relief Act until December 31, 2013.  Residential mortgage debt that is forgiven by the lender as part of a short sale, deed in lieu of foreclosure or foreclosure will not be considered...

Slight uptick in bankruptcy and foreclosure filings

September 18th, 2012 by mmckeever

Although bankruptcy and foreclosure filings are down from a year ago, the number of bankruptcy and foreclosure filings was slightly higher in August, 2012 than July, 2012. On September 13, 2012, Realty Trac (www.realtytrac.com) released its U.S. Foreclosure Market Report for 2012.  The report shows that one in every 681 housing units had a...

But what about my credit rating?!

September 8th, 2012 by mmckeever

“I can’t file bankruptcy.  It will destroy my credit!” Often times during our initial consultation with a potential client, we hear “but I can’t file bankruptcy, it will destroy my credit!”  Unfortunately, many people believe that they will not be able to buy a house or a car for years after they file bankruptcy. ...