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January 2014 Archives

Road back from bankruptcy includes debt management classes

A lot of people do not realize how many steps there are in the bankruptcy process. One often overlooked element of a Chapter 7 bankruptcy filing is a personal financial management course, which is required before someone is eligible to have their unsecured debts discharged. This course is intended to help people get the right systems in place to help them manage their money more effectively in the future so that they can avoid getting into overwhelming debt after their current burdens are discharged.

Big banks say they'll stop high interest short term loans

Some of the country’s largest banks have announced an end to a controversial lending practice known as deposit-advance loans. The deposit advance loans have been compared to payday loans, which are short-term, high interest loans often utilized by borrowers with poor credit or limited other options for securing extra funds. The deposit-advance loans have been criticized as predatory by consumer rights advocates, leading the banks to proactively stop offering them before federal regulatory pressures required it.

Will the new health law help reduce medical debt?

As some readers are already aware, medical debt is one of the leading factors for individuals who decide to declare bankruptcy. Medical debt nearly always appears by surprise and when one is suffering from a serious injury or illness, it is hard to get back to work to start making payments on that debt.

Judge approves liquidation sale for clothing store

A judge overseeing the bankruptcy process of discount clothing retailer Loehmann's has approved the sale of the company's inventory. Liquidators already bid on the inventory at an auction and the winner offered to pay 29.8 percent of the total value of the inventory, which is estimated to be worth about $51 million.

Organization under scrutiny for harsh tactics on student debt

A young woman who had taken out substantial student loans was suddenly diagnosed with pancreatic cancer. She survived the potentially fatal disease and was recovering when medical bills and past-due loan payments began to pile up, causing the young woman to attempt to seek bankruptcy relief. This is difficult to do, since student loans are typically not forgiven through bankruptcy unless undue hardship is shown. It is so difficult that only a few hundred people even attempt to seek relief from student loans this way each year.

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    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

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    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

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    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

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