December 6, 2008

• When are Credit Card Debts at Risk for a Bankruptcy Challenge

  Nine times out of ten, when I meet with a potential bankruptcy client, that individual will have credit card debts.  In some cases, credit card debt can be startlingly large - I have seen many cases that include over $100,000 of credit card debt. (…)

April 24, 2008

• Recent Credit Card Use and Filing for Bankruptcy - What Are Some Guidelines?

  Most bankruptcy lawyers will tell you that credit card contributes to most consumer bankruptcy case filings.  Often, overwhelming credit card debt is the primary reason for a filing.  For example, if you have $10,000 or more in credit card debt, and you send in only the minimum payment of 2% of the balance each month, you will need over 50 years to pay off your debt.  You can run your own numbers using an on-line credit card interest calculator. (…)

April 18, 2007

• Credit Card Balance Transfer Puts Chapter 7 Options in Jeopardy

  This morning, I received an email from a potential client who made a very bad decision that will likely keep him from filing Chapter 7 for six months to a year.  Other than this one mistake, he is a clear Chapter 7 candidate:

  his household income is below the median - so we do not have to deal with the means test his house is modest - valued at around $120,000 with mortgage debt equal to or above the value.  He is also prepared to surrender his house he has $70,000 in credit card bills - all fairly old he has $1,000 of medical debt

  What, then, is the problem? (…)

December 11, 2006

• What Prompts a Dischargeability Objection by a Credit Card Lender?

  First, I think you have a very insightful blog about bankruptcy issues. I refer your blog to the bankruptcyforum.com sight to all the guest and members there. (…)

May 15, 2006

• Credit Card Company Loses a Discharge Action

  My friend, attorney Howard Rothbloom, recently emailed me about his victory over MBNA in a discharge complaint filed against his client. In the MBNA vs. (…)