Monthly Archives: July, 2010

Federal Trade Commission Bans Debt Management Companies From Taking Advance Fees

The Baltimore Sun today announced the following great news: FTC Bans Advance Fees at Debt Relief Companies The Federal Trade Commission announced that companies promising over the phone to reduce your credit card or other debt can’t charge you a fee until they do their job. The rule affects for-profit businesses and will kick in […]

Bankruptcy Problems You Can Avoid: Undisclosed Assets

The United States Bankruptcy Code obligates you to make a full disclosure of your financial affairs when you file bankruptcy.  You must list all of your debts, reveal detailed information about your income and expenses, and you must reveal information about your assets. In my 24 years of practice I have found that undisclosed asset […]

Chapter 13 Bankruptcy Disposable Income: The U.S. Supreme Court Rules

The Bankruptcy Code requires that, when an individual files for bankruptcy protection under Chapter 13 and proposes a debt repayment plan to which the trustee or an unsecured creditor objects, the individual must either pay his or her unsecured creditors  in full or pay all “projected disposable income” he or she will receive over the […]