Category Archives: Legal Rights During and After Bankruptcy

When Debt Collectors Call, Part 3: How May a Debt Collector Contact You? — NMBankruptcyBlog.com

From time to time, a Guest Blogger will share voice at the New Mexico Bankruptcy Law Blog. Today, we welcome Deborah DeMack. Deborah is a former Assistant Attorney General in the Consumer Protection Division of the New Mexico Attorney General’s Office. A solo practitioner now in private practice in Santa Fe, NM, Ms. DeMack practices […]

When Debt Collectors Call, Part 2: To Whom Does the FDCPA Apply? What Debts are Covered? — NMBankruptcyBlog.com

From time to time, a Guest Blogger will share voice at the New Mexico Bankruptcy Law Blog. Today, we welcome Deborah DeMack. Deborah is a former Assistant Attorney General in the Consumer Protection Division of the New Mexico Attorney General’s Office. A solo practitioner now in private practice in Santa Fe, NM, Ms. DeMack practices […]

When Debt Collectors Call, Part 1: Debt Collection Abuse and the FDCPA — NMBankrtupcyBlog.com

From time to time, a Guest Blogger will share voice at the New Mexico Bankruptcy Law Blog. Today, we welcome Deborah DeMack. Deborah is a former Assistant Attorney General in the Consumer Protection Division of the New Mexico Attorney General’s Office. A solo practitioner now in private practice in Santa Fe, NM, Ms. DeMack practices […]

When Debt Collectors Call, 10 Points to Remember — NMBankruptcyBlog.com

From time to time, a Guest Blogger will share voice at the New Mexico Bankruptcy Law Blog. Today, we welcome Deborah DeMack. Deborah is a former Assistant Attorney General in the Consumer Protection Division of the New Mexico Attorney General’s Office. A solo practitioner now in private practice in Santa Fe, NM, Ms. DeMack practices […]

And What About Credit Cards and Department Store Cards? — NMBankruptcyBlog.com

And What About Credit Cards and Department Store Cards? It is almost never a good idea to reaffirm a credit card. Reaffirming means you will pay bills that your bankruptcy would normally wipe out. That can be a very high price to pay for the convenience of a credit card. Try paying cash. Then in […]

Do I Have to Reaffirm Car Loans, Home Mortgages? — NMBankruptcyBlog.com

Do I Have to Reaffirm Car Loans, Home Mortgages? If you are behind on a car loan or a home mortgage and you can afford to catch up, you can reaffirm and possibly keep your car or home. If the lender agrees to give you the time you need to get caught up on a […]

Do I Have Other Options for Secured Debts? — NMBankruptcyBlog.com

Do I Have Other Options for Secured Debts? You may be able to keep the collateral on a secured debt by paying the creditor in a lump sum the amount the item is worth rather than what you owe on the loan. This is your right under the bankruptcy law to “redeem” the collateral. Redeeming […]

Should I Reaffirm? — NMBankruptcyBlog.com

Should I Reaffirm? If you are thinking about reaffirming, the first question should always be whether you can afford the monthly payments. Reaffirming any debt means that you are agreeing to make the payments every month, and to face the consequences if you don’t. The reaffirmation agreement must include information about your income and expenses […]

Do I Have to Reaffirm on the Same Terms? — NMBankruptcyBlog.com

Do I Have to Reaffirm on the Same Terms? No. A reaffirmation is a new contract between you and the lender. You should try to get the creditor to agree to better terms such as a lower monthly payment or interest rate. You can also try to negotiate a reduction in the amount you owe. […]

Can I Change My Mind After I Reaffirm a Debt? — NMBankruptcyBlog.com

Can I Change My Mind After I Reaffirm a Debt? Yes. You can cancel any reaffirmation agreement for sixty days after it is filed with the court. You can also cancel at any time before your discharge order. To cancel a reaffirmation agreement, you must notify the creditor in writing. You do not have to […]