Lawsuit and Wage Garnishment do not Happen Overnight
It usually takes weeks or months of creditors' harassment through mail or telephone before they file a lawsuit. Borrower usually gets notice of a lawsuit by service of a summons and complaints at home or work. Creditors file lawsuits in order to collect on to the debt owed when borrower stop making payments. Borrower has […]
In the News: Wells Fargo to pay $81.6M to homeowners in Chapter 13 Bankruptcy
Wells Fargo agreed to pay $81.6 million to settle claims that it failed to timely notify homeowners in Chapter 13 Bankruptcy of changes in mortgage payments. Under bankruptcy law, mortgage lenders must give borrowers in Chapter 13 Bankruptcy at least 21 days notice of any increase or decrease of their mortgage payments. Wells Fargo admitted to […]
Ask Foreclosure Attorney in Sacramento Stockton Fairfield CA – Judicial and Nonjudicial Foreclosure & Deficiency Judgment
There are two types of foreclosure in California: Judicial and Nonjudicial Foreclosure. The two are very different in procedure and remedies available to mortgage lenders as well as protection available to borrower. What is Judicial Foreclosure? Judicial Foreclosure is administered by state courts. This type of foreclosure occurs less often in residential foreclosures because it […]
Ask Foreclosure Attorney in Sacramento Stockton Fairfield CA – Deficiency Judgment after Foreclosure of Real Estate
One good question asked by many homeowners during a bankruptcy consultation at my Offices in Sacramento, Stockton, and Fairfield, California: "Can a mortgage lender sue me for the balance of the loan after a foreclosure?" This question is common to any experienced Sacramento bankruptcy attorney. To answer this question, first I need to explain an important anti-deficiency statue in California […]
Sacramento California Median Home Price on the Rise Again & Effect on Bankruptcy Filing
Although the number of home sales in Sacramento California slowed in September, 2015, the median home sales price continued to rise compared to August, 2015. In the County of Sacramento California, 2,191 home (new and resale homes and condos) sold in September, 2015, down from 2,254 in August, 2015. However, this is an increase from 1,892 in […]
Tax Debt and Bankruptcy – Ask Bankruptcy Attorney in Sacramento Stockton Fairfield California
Ignoring Your IRS Tax Debt can Result in Tax Levy on Bank Account, Wage Garnishment, and Tax Lien on your Home. Chapter 13 Bankruptcy or Chapter 7 Bankruptcy may be an option. If you filed an extension for your tax return for 2014, it is due on October 15, 2015. If you do not file by the […]
Online Payday Loans – Ask Bankruptcy Attorney in Sacramento California
When you are falling behind on payments, you might be tempted to go online for a payday loan. However, you should be careful about the high costs of online payday loans. Some online payday loan lenders are scrupulous by disclosing the actual costs of the loan and obeying the law. However, there are some online payday loan lenders who […]
The High Cost of Payday Loans – Ask Bankruptcy Attorney
If you are struggling financially and are thinking about taking out a payday loan to pay for bills, you should be aware of the high cost. Payday loans, aka cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans, are small, short-term, high-rate loans. How a payday loan works is when a […]
California Regulation on Debt Collectors’ Practices called Rosenthal Fair Debt Collection Practices Act – California Civil Code sections 1788, et seq.
1788. This title may be cited as the Rosenthal Fair Debt Collection Practices Act. 1788.1. (a) The Legislature makes the following findings: (1) The banking and credit system and grantors of credit to consumers are dependent upon the collection of just and owing debts. Unfair or deceptive collection practices undermine the public confidence which is […]
Ask Sacramento Bankruptcy Attorney – What are the Dos and Don’ts of Bankruptcy whether it is Chapter 13 or 7 Bankruptcy
Below are some general tips on dos and don'ts when filing for Bankruptcy regardless of whether you are filing for Chapter 13 or 7 Bankruptcy: What to do Be aware. Financial trouble can endanger your home, your marriage, your health, and many other aspects of life. Take the situation seriously and talk with an experienced attorney as soon as […]