You may be thinking, is the middle of a pandemic really the best time to consider taking such a big step? Yes! If you are facing financial struggles the answer is most definitely sooner rather than later.
If you are feeling overwhelmed by bills and financial responsibilities during this stressful time, you may have options that you are not considering.
Our phones are still answered 24/7 and in the face of financial uncertainty, we are still holding free initial consultations by phone.
We live in difficult economic times. It is often beyond one’s control if he or she loses a source of income, or has a family financial emergency that makes it difficult or impossible to pay all the bills in a given month. For instance, if the inability to make your required credit card payments continues, […]
A Chapter 13 Bankruptcy repayment plan lasts between 36 and 60 months. During that period of time there are many events that may happen which may diminish or enhance one’s ability to repay their creditors under a Confirmed Chapter 13 repayment plan. Change in circumstances that are cause for a modification of a confirmed bankruptcy […]
The recognized current standard for including student loans in a bankruptcy discharge is broadly defined as a clear showing that the payment of the student loan debt will impose an undue hardship on the Debtor and his or her dependents. To meet this standard the Bankruptcy Courts have implemented the Brunner test. The Brunner test […]
Can I Purchase a Home after filing Bankruptcy? The answer to this question, is the too frequent legal answer, “It Depends.” Credit scores a/k/a FICO scores and interest rates are in an inverse relationship, meaning, the higher the credit score, the lower the interest rate. Our credit scores are the lead factor in determining the […]
In March, 2010 I posted a blog about the high cost of payday loans, as high as a 426% interest rate. Payday loans are not the first choice of a consumer looking for a short term loan, and are generally sought in the most dire of financial positions. Pay day loans are often used by […]
This blog stems from a Chapter 7 client who asked “What happens if a creditor is not listed?” It is Sadek and Coopers’ common practice that prior to a bankruptcy filing we review a 3 source credit report and collect all bills from our clients to ensure all creditors are listed on a Bankruptcy Petiion. […]
On or about January 17, 2012, Sadek Law Office filed an adversary proceeding against a major mortgage servicer for among other things, stripping a wholly unsecured junior mortgage lien. The subject real property at issue was valued less than the first mortgage amount of $180,000.00 thereby deeming the second mortgage lien as “wholly unsecured.” Through […]