This has been predicted for going on 3 years. However, if Silicon Valley Bank cannot make it, how will consumers fare going forward? Home Prices Down? We have seen this movie before. U.S. existing-home prices fell from a year earlier in February for the first...
The post Bankruptcy Tidal Wave Coming? appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
I don’t want those of you with insurmountable student loan debt to miss this so I will be repeating it: Effective November 17, 2022, the Justice Department is backing off its longtime aggressiveness in fighting all lawsuits in bankruptcy court to discharge student loans. The...
The post Less Difficult To Discharge Student Loans In Bankruptcy-And More!!! appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
Debt from overpayments on unemployment, owed by the consumer who was overpaid, is generally NOT dischargeable in bankruptcy. The federal government, as part of its piece by piece knee jerk Covid response, shoveled more unemployment money to the states than the states had the infrastructure...
The post Michigan Unemployment Debt Mess appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
The post Catching Up On Bankruptcy News appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
The too much debt wave is starting to crest. Debt collection lawsuits are “overwhelming” Michigan’s district court system, often resulting in a process thatpits well-heeled creditors and debt buyers against low- and moderate- income residents, according to a newstudy. A study of Michigan’s court systems...
The post Debt Collection Cases Clog Courts appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
As usual, it seems like forever, most folks do NOT trust lawyers. Barely a third of Americans think lawyers are trustworthy, and the legal profession’s reputation hasn’t improved much in recent years. The latest Rasmussen Reports national telephone and online survey finds that only 35%...
The post Can You Trust Your Bankruptcy Lawyer? appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
I have blogged on this a few times. Unless you want to start a new company in the same business, or are tired of the phone calls/harassment from collectors who bug you because you are the responsible party/officer of the corporation, filing Chapter 7 bankruptcy...
The post Corporations, Including LLCs, Should NOT File Bankruptcy appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
Are we in a recession? Hell yes. From Instapundit: IT’S PROBABLY NOTHING: There’s a notion that if you want to gauge the future of the economy, just look at default rates for auto loans. When times are good, autos are one item that people typically...
The post Ready For The Recession? appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
My first reaction is: Duh. Rising interest rates cause credit card debt to increase. However, anyone carrying a balance will also see the annual percentage rate on their credit card head higher as the Fed continues to raise rates to try and tamp down rising prices. Because most credit card contracts allow...
The post Interest Rates And Credit Card Debt UP appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.
Creditor harassment probably drove you to file bankruptcy. You decided you will file bankruptcy, for sure, so when do you stop paying those pesky creditors? Hey, I am a lawyer, so the answer is: it depends. If you are keeping your house, keep paying the...
The post When Do I Stop Paying Creditors? appeared first on Detroit Bankruptcy Lawyer Kurt O'Keefe.