Google Los Angeles Chapter 7 bankruptcy Attorney
Payday Loans bankruptcy attorney

AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014

8 May 2014

AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014

Cuando un caso de Bancarrota se presenta a la corte, la secretaria encargada de presentar su caso debe tomar un pago de 306.00 dolares para poder comensar con la presentacion de su caso.

En una Conferencia Judicial de la corte de Estados Unidos, se anuncio que el dia Primero de Junio todos aquellos que quieran presenter una bancarrota deverian pagar los siguientes precios. Para capitulo 7 subio de 306.00 a 355.00 y para un capitulo 13 subio de 281.00 a 310.00.

La oficina de la abogada Chirnese L. Liverpool es una agencia que alivia tus deudas. Asistimos a deudores que quieren aliviar su problema de deudas, si tiene preguntas por favor llamenos. (818) 714-2200

Share this:
AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014 AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014 AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014 AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014 AVISO: Los Precios de la corte suviran el dia primero del mes de Junio, 2014

New Court Filing Fee – as of June 1, 2014

7 May 2014

New Court Filing Fee   as of June 1, 2014
A filing fee needs to be paid to the Clerk of the Bankruptcy Court when a bankruptcy case is filed. The Judicial Conference of the United States Court announced that effective June 1, 2014, the filing fees for filing a bankruptcy will go up slightly. The new filing fee for  a chapter 7 case will rise from $306.00 to $335.00. a chapter 13 case will rise from $281.00 to $310.00.

The Law Office of Chirnese L. Liverpool is a debt relief agency.  We assist debtors seeking debt relief.  If you are looking for a Los Angeles bankruptcy Attorney, give us a call today at (818) 714-2200.

 

Share this:
New Court Filing Fee   as of June 1, 2014 New Court Filing Fee   as of June 1, 2014 New Court Filing Fee   as of June 1, 2014 New Court Filing Fee   as of June 1, 2014 New Court Filing Fee   as of June 1, 2014

Bankruptcy and Secured Credit Cards

22 April 2014

 

Bankruptcy and Secured Credit Cards

Bankruptcy and Secured Credit Cards

After you obtain a discharge in a Los Angeles bankruptcy – it usually improves your credit score just by eliminating bad debts, but that doesn’t mean a debtor’s post-bankruptcy credit score will be remarkably great. However, there are steps former debtors can take to raise their credit scores. One option that doesn’t come up often is using a so-called “secured credit cards” What are these and how can they help debtors after bankruptcy?

Credit card debts are unsecured debts, meaning the debtor doesn’t pledge any collateral to the bank in case of a default unlike what happens in an auto loan or a mortgage. As a result, credit card interest rates tend to be higher than rates for secured debts. A secured credit requires the debtor to deposit money with the lender as collateral before the card can be used. Typically, banks will ask for $300 to $500 up front. If the debtor doesn’t pay the credit card bill, the lender can recover the money that the debtor deposited. Usually, the credit card is limited by the amount the debtor deposited or some percentage above that amount.

There are some benefits to using a secured credit card, especially after a bankruptcy discharge. One, the cash collateral deposited with the bank will earn some interest. Two, regular, timely payments on a secured credit card can help improve one’s credit score when banks might have been less likely to extend credit otherwise. The lender may even offer to raise the credit limit with an increase in the deposit account.

On the other hand, several drawbacks to keep in mind before getting a secured credit card. Generally, they require the cardholder to pay annual user fees. Sometimes lenders can charge higher interest rates than unsecured cards, and worse, they may require monthly insurance policies that provide debtors with no real benefit. Finally, the collateral deposit will tie up the cardholder’s resources for as long as he or she has the card.

Secured credit cards can be a useful way of rebuilding credit provided the monthly payments are made on time. Those interested in finding one should be diligent about the process to ensure that they aren’t paying needless fees or insurance charges. Credit unions are a good place to look as they tend to offer better terms than larger banks.

For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced Los Angeles bankruptcy attorney Chirnese L. Liverpool for a free initial consultation.  We can be reached by phone at (818) 714-2200.

Share this:
Bankruptcy and Secured Credit Cards Bankruptcy and Secured Credit Cards Bankruptcy and Secured Credit Cards Bankruptcy and Secured Credit Cards Bankruptcy and Secured Credit Cards

Bankruptcy Discharge vs. Bankruptcy Dismissal

16 April 2014

Bankruptcy Discharge vs. Bankruptcy Dismissal

When filing for bankruptcy in Los Angeles many people don’t know much about the process they are trusting with their debts, let alone the forecasted end result. It isn’t uncommon for an unsuspecting debtor to find their case denied by the court and not obtain the debt relief they were seeking. Here is what you need to know about the potential outcome of your case:

Bankruptcy Discharge –  occurs when your case is successfully completed and closed with the court. A debt discharge releases you from liability over any remaining portion of your debt and essentially severs the relationship of you from your prior debt balance. A discharge is the outcome you are wanting when you seek help from the bankruptcy process. Another thing to note about a discharge is that it often will make the automatic stay order permanent. In other words, debts that are discharged become permanently “uncollectable” by your creditor.  A discharge can only occur when you have met all of the paperwork, credit counseling and payment requirements outlined by the court.

Bankruptcy Dismissal — occurs when your case is denied and closed by the court. Dismissals can occur due to suspicions or confirmations of fraud, failure to meet eligibility requirements or failure to comply with the bankruptcy code requirements. Dismissals can also be voluntary (not in a Chapter 7 bankruptcy), in which you request to have your case terminated by the court, or involuntary, in which the court takes action independently to terminate your case. This is not the outcome you are seeking when filing for bankruptcy in most cases. Further, a case dismissal leaves your debts unresolved and you fully liable for payment of the debt.

If you need assistance with unpaid medical bills, preventing foreclosure, preventing repossession, reducing financial liabilities, stopping wage garnishments, preventing collection calls, reducing or eliminating tax debt, and or rebuilding your credit consider consulting with us for your options.  We can be reached by calling us at (818) 714-2200.

Share this:
Bankruptcy Discharge vs. Bankruptcy Dismissal Bankruptcy Discharge vs. Bankruptcy Dismissal Bankruptcy Discharge vs. Bankruptcy Dismissal Bankruptcy Discharge vs. Bankruptcy Dismissal Bankruptcy Discharge vs. Bankruptcy Dismissal

When will my 341a meeting of the creditors in bankruptcy court be held?

15 April 2014

When is the 341a meeting of creditors  held?

 When will my 341a meeting of the creditors in bankruptcy court be held?
What is a Section 341 Hearing?
First, In every single bankruptcy case, be it Chapter 7, 11 or 13, there is an initial meeting at the bankruptcy court called the Meeting of Creditors.  In consumer cases under Chapter 7 or Chapter 13, the purpose of the meeting is for the court-appointed trustee to review the case with the debtor by examining the debtor under oath.
Section 341 of the Bankruptcy Code provides for this hearing, which is why it is often referred to as the “341a Meeting of the Creditors.”
The Bankruptcy Rules Provide the Time Frame For Holding the Meeting of Creditors
Although the 341 hearing is usually held about a month after the petition is filed, it can sometimes be held much earlier than that, and other times, much later.
Bankruptcy Rule 2003(a) sets forth the time parameters for the 341 Hearing:
In a Chapter 7 or Chapter 11 bankruptcy case, the meeting must be held no fewer than 20 days, and no more than 40 days after the date the petition is filed.
However, in a Chapter 13 case, the meeting shall be held no fewer than 20 days, and no more than 50 days after the date of filing.
When the bankruptcy court is operating very efficiently, meetings tend to be sooner.  When the court is overburdened, or trustees are taking vacations, the time frame is longer.
Attorney Chirnese L. Liverpool and her supportive staff are committed to helping clients through the sometimes overwhelming process of filing for bankruptcy. We provide personalized assistance and dedicate as much time as needed to help you obtain relief from the burden of your debt. To find out how we can help you, contact the Law Offices of Chirnese L. Liverpool at (818) 714-2200 today for a free initial phone consultation.
Share this:
When will my 341a meeting of the creditors in bankruptcy court be held? When will my 341a meeting of the creditors in bankruptcy court be held? When will my 341a meeting of the creditors in bankruptcy court be held? When will my 341a meeting of the creditors in bankruptcy court be held? When will my 341a meeting of the creditors in bankruptcy court be held?

Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you?

14 April 2014

Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you?

It’s never an easy decision, especially when you include the sentimental feelings we have for our homes. But before you short sell your home, look at all your options. It may be more beneficial for you to surrender it or let it go to foreclosure.

Did you know that if you have a second mortgage or line of credit on your home, the lender may still hold you liable for what’s owed after the short sale. Unless the lender agrees to waive the balance of your debt, they’ll probably send you a letter demanding payment of the outstanding balance. Review all short sale documents, prior to signing, to ensure that you are released from any balance liability. It well worth the time and money to have your paperwork reviewed, prior to closing, by an experienced law firm, like the Law Office of Chirnese L. Liverpool.

Even if the bank decides not to pursue the balance due after the short sale, you could be in for a surprise at tax time. The bank may report the cancelled debt on a 1099 form next January. At that point, the amount on the 1099 will be treated as income for tax purposes. For example, if your bank agrees to waive or cancel $45,000 of the second mortgage as part of the short sale, you may have to pay income taxes on the $45,000.

Filing for bankruptcy can provide options for eliminating the additional liability. Call the Law Office of Chirnese L. Liverpool at (818) 714-2200 for a no-obligation consultation.

Share this:
Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you? Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you? Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you? Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you? Short sale, foreclosure, or surrendering the home through bankruptcy. What is the right choice for you?

bankruptcy filing fee waiver

18 February 2014

The current Bankruptcy filing fees are listed below. If you cannot afford to pay the fee either in full at the time of filing or in installments, you may request a waiver of the filing fee by completing form 3B and filing it with the Clerk of Court. A judge will decide whether you have to pay the fee. By law, the judge may waive the fee only if your income is less than 150 percent of the official poverty guideline applicable to your family size and you are unable to pay the fee in installments.

Filing Fees
Chapter 7: $306
Chapter 11: $1,213
Chapter 12: $246
Chapter 13: $281

Email  or call (818-714-2200) Los Angeles Bankruptcy Attorney Chirnese L. Liverpool for a free consultation.

Share this:
bankruptcy filing fee waiver bankruptcy filing fee waiver bankruptcy filing fee waiver bankruptcy filing fee waiver bankruptcy filing fee waiver

If I have a job, can I file bankruptcy

30 January 2014

Of course!  The court does not expect everyone who files bankruptcy to be down, out, and unemployed.  That’s just not how life works; our clients are good hard working people who have simply fallen on hard times. You may have a job and file a bankruptcy and in most cases unless you have signed something stating that the employer must be notified if you file a bankruptcy, your employer wouldn’t have a clue you even filed.

In your petition you are required to report your income in several different areas.  You will have to show your earnings for the past two years, where you work now and what your expected income going forward is, as well as what you have earned in the past 6 months prior to filing the bankruptcy. In bankruptcy, your income is calculated based upon a “Means Test”; although there are many other types of income besides employment that are also a factor in the means test.  This tells the court whether or not you qualify for a Chapter 7 bankruptcy or if you will need to file a Chapter 13 bankruptcy based upon your income.

In the event that you file a Chapter 13 bankruptcy your debts are a factor, but your plan payments will be based also largely upon your past 6 months of income.  For example, let’s say that based upon your arrearages and debts in the plan, you’re looking at plan payments of $500 per month, BUT based upon your prior 6 months, your income shows that you have an extra $1,000 left over each month.  You would make a payment closer to the $1,000 mark because your prior income states that you can afford it.

Also, in the occurrence that you file a bankruptcy and you have any secured items in which you may wish to keep (such as a house, car, jewelry, furniture, or electronics) you must be able to show that you can afford to make the contractual monthly payments.   Bankruptcy court has been enacted to help consumers. Whether you have a job or not does have an impact on your bankruptcy options but you can certainly still file a bankruptcy even if you do not have a job.

If you are considering filing for bankruptcy, give the Law Offices of Chirnese L. Liverpool a call today, our phone number is (818) 714-2200.  Alternatively, we can be reached by visiting our bankruptcy website.

Share this:
If I have a job, can I file bankruptcy If I have a job, can I file bankruptcy If I have a job, can I file bankruptcy If I have a job, can I file bankruptcy If I have a job, can I file bankruptcy

stressed out over medical bills

29 January 2014

Can Medical Bills Cause You To File Bankruptcy?

stressed out over medical billsYes,  Medical bills are one of the top 5 reasons that I would say causes individuals to file bankruptcy.

New Years Eve and the week after it, I had 2 visits to the Emergency Room.  My bills totaled over $5,000 for these two visits.  Thank GOD for insurance.  I was speaking with my best friend regarding the matter, and she said that she had taken her child to the emergency room and the bill was over $20,000.  She too,  had insurance.  Could you imagine getting sick, or needing emergency services, only to find out that the bill would be in the thousands of dollars?

Well, that is the reality for millions of Americans.  Some Americans do not have insurance and some are under-insured.  If you dont have insurance, or are under-insured – a $20,000 medical bill would have you pulling your hair out trying to figure out how are you going to pay these medical bills.

For some, their only option is to file bankruptcy.  It is unfortunate, however, it can get that debt from looming over your head and provide you with a fresh start.  If you are stressed out over medical bills and considering filing for bankruptcy, contact our office today.

The law office of Chirnese L. Liverpool assists debtors who are stressed out over medical bills.  We can be reached at (818) 714-2200 or by vising our bankruptcy website.

Share this:
stressed out over medical bills stressed out over medical bills stressed out over medical bills stressed out over medical bills stressed out over medical bills

Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013

25 November 2013

This was originally posted the courts website.

The Judicial Conference of the United States approved several changes to the federal court miscellaneous fee schedules that relate to bankruptcy courts and become effective December 1, 2013:

  • New $176 fee for the filing of motions for the sale of property free and clear of liens under 11 U.S.C. § 363(f).
  • Increase in the records retrieval fee from $53 to $64 for the first box requested from the Federal Records Center, and a new fee of $39 for each additional box requested.

The Judicial Conference also amended the fee language regarding checks returned for insufficient funds on each of the court fee schedules. The prior fee language, which applies only to “checks,” was outdated, as check payments have now largely been superseded by electronic payments. Please note that there is no change to the amount of this fee.

Share this:
Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013 Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013 Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013 Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013 Changes To Federal Court Miscellaneous Fee Schedule Effective December 1, 2013

How to request your Telecheck file report

29 October 2013

This inforrmation was posted directly on First Data’s Website.

TeleCheck will reinvestigate any item listed in your File Report that you believe may be inaccurate or incomplete. We ask for your personal information, like social security number, because TeleCheck stores information by unique identifiers such as a driver’s license or social security number or bank number(s). TeleCheck may not be able to find your records or all of your records by a simple search of your name. And, we ask for this information to ensure that the search we conduct will be complete and accurate.

To protect consumer’s privacy, we communicate only with the individual to whom the information pertains. If the consumer does wish for us to communicate directly with a third party about their records, we will need to receive a Power of Attorney or specific written instructions, signed by the consumer whose information is being requested, authorizing us to disclose the information to the named third party.

To verify your identity, with your request please include:
(1) a daytime contact phone number
(2) a copy of your driver’s license
(3) your social security number
(4) a copy of a voided check

Send the request for your file report to:
TeleCheck Services, Inc.
Attention: Consumer Resolutions-FA
P.O. Box 4514
Houston, TX 77210-4514

If you need assistance with unpaid medical bills, preventing foreclosure , preventing repossession, reducing financial liabilities, stopping wage garnishments, preventing collection calls, debt settlement, reducing or eliminating tax debt, and or rebuilding your credit consider consulting with us for your options. Chirnese L. Liverpool assists clients with filing for bankruptcy in California  as well as all of NevadaOur office represents clients with:  bankruptcy court, filing for bankruptcy, chapter 7 bankruptcy, and chapter 13 bankruptcy representation. We can be reached at (818) 714-2200.

Share this:
How to request your Telecheck file report How to request your Telecheck file report How to request your Telecheck file report How to request your Telecheck file report How to request your Telecheck file report

Chapter 7 bankruptcy

21 October 2013

Chapter 7 bankruptcy is the most common type of bankruptcy and is available to individuals, married couples, corporations and partnerships.

Chapter 7 is a liquidation proceeding in which the debtors non-exempt assets, if any, are sold by a court-appointed “trustee” and the proceeds distributed to creditors according to priorities established in the U.S. Bankruptcy Code. In most consumer cases, however, all assets are “exempt”. Therefore, there are no assets to liquidate and there is no payment to creditors. All or most debts are completely forgiven or “discharged” and the debtor retains all of his assets.
 
If the debtor owes money on a home, motor vehicle or other property that is secured by a mortgage, security agreement or other type of lien, he has the following options under Chapter 7:
 
1) retain the property, “reaffirm” the debt and keep making regular payments to the creditor;
 
2)  “redeem” the property by making a lump sum payment to the creditor for its fair market value; or
 
3) surrender the property to the creditor and discharge all further liability for the debt.
 
A Chapter 7 bankruptcy will not eliminate student loans except in undue hardship cases, certain types of taxes, alimony or child support obligations, criminal fines and restitution, debts incurred through fraudulent conduct, debts incurred through intentional injury to person or property, or debts for personal injuries caused while intoxicated.
 
A Chapter 7 bankruptcy proceeding is commenced by filing Official Bankruptcy Forms in the U.S. Bankruptcy Court. These forms require a debtor to list all of his assets and debts, along with some recent financial information. This is the most important and time-consuming part of a bankruptcy filing.
 
It is important that every creditor is listed on the bankruptcy forms with an accurate mailing address. All debts must be listed, even if a particular debt is non-dischargeable or the debtor intends to “reaffirm” and continue paying the debt.
 
The bankruptcy forms are signed by the debtor under penalty of perjury then filed with the bankruptcy court clerk in the district in which the debtor resides, or has resided for the greater part of the last 180 days.
 
To file an individual or joint Chapter 7 bankruptcy, a court filing fee in the amount of $306 must be paid to the U.S. Bankruptcy Court at the time of filing or within 4 monthly installments. If the debtors annual gross household income is not more than 150% of the Federal Poverty Level for his family size, the Chapter 7 filing fee can be waived altogether.
 
A Chapter 7 bankruptcy is effective immediately upon filing and an “automatic stay” immediately stops all collection activity, including foreclosure, repossession, garnishment, lawsuits, creditor contact, etc.
 
The bankruptcy court will mail notice of the bankruptcy filing and automatic stay to each of the creditors listed on the debtors bankruptcy forms. Any creditor that violates the automatic stay by attempting to collect a debt from the debtor may be held in contempt of court and punished by fine or imprisonment.
 
About 4-6 weeks after the bankruptcy filing date, the debtor must attend a “341a meeting” (also known as a  “meeting of creditors”). At the 341a meeting, the trustee will ask the debtor a few questions regarding his financial situation. The meeting in a typical consumer case lasts about 3-4 minutes and creditors virtually never attend the meeting.
 
The debtor should receive a final discharge order in the mail within 3-5 months after the 341a meeting. The final discharge order will provide that the debtors debts (except any debts that have been voluntarily reaffirmed or are non-dischargeable by law) are formally discharged and that any court judgments for a debt entered against the debtor at any time prior to filing bankruptcy are null and void.

If you are interested in knowing how to get the bankruptcy process started, click here .

 
To get started, just review “Frequently Asked Questions About Bankruptcy” then email us or call the Law Offices of Chirnese L. Liverpool at 818-714-2200.
Share this:
Chapter 7 bankruptcy Chapter 7 bankruptcy Chapter 7 bankruptcy Chapter 7 bankruptcy Chapter 7 bankruptcy

Identity theft and bankruptcy

8 October 2013

When I was in college, I became a victim of Identity Theft.  After M.A.N.Y. hours contacting all of the necessary agencies, (police, creditors, credit bureaus etc.) I was able to get it off of my credit report, but boy was it a lot of work.  Sometimes my clients are forced to file for bankruptcy because their credit was ruined through fraudulent transactions by people they knew or they were victims of stolen identity. Unfortunately, these days most of us can find our selves victims of stolen identity. Here is what you can do to prevent further damage.

Placing a Fraud Alert

By placing a fraud alert on your consumer credit file, you let creditors know to watch for unusual or suspicious activity in any of your accounts, such as someone trying to open a credit card account in your name.

To place a fraud alert, call one of the following three major credit reporting agencies. Your phone call will take you to an automated phone system. Be sure to listen carefully to the selections and indicate that you are at risk for credit fraud.

You need only contact one of these agencies, which will automatically forward the fraud alert to the other two.

TransUnion
(800) 680-7289
Fraud Victim Assistance Department
P.O. Box 6790
Fullerton, CA 92834
http://www.tuc.com

Equifax
(888) 766-0008
Consumer Fraud Division
P.O. Box 740256
Atlanta, GA 30374
http://www.equifax.com
Experian
(888) 397-3742
Credit Fraud Center
P.O. Box 1017
Allen, TX 75013
http://www.experian.com/fraud

Soon after you place a fraud alert, you will receive confirmation letters from all three credit reporting agencies, with instructions on how to order free credit reports. If you find anything that looks wrong or suspicious or that you don’t understand in a credit report, call the credit agency at the telephone number listed on the credit report. You will also want to call your local police or sheriff’s office to file a report of identity theft.

Sometimes, the easier route to get rid of identity theft is to file for bankruptcy.  You will want to speak with a bankruptcy attorney to see if this is the right path for you.  You can reach Attorney Chirnese L. Liverpool at (818) 714-2200 or by visiting her website at www.liverpoollegal.com

Share this:
Identity theft and bankruptcy Identity theft and bankruptcy Identity theft and bankruptcy Identity theft and bankruptcy Identity theft and bankruptcy

Virtuoso Sourcing Group – Collection Agency = Class action lawsuit

6 October 2013

This was originally posted on www.topclassactions.com
Virtuoso Sourcing Group   Collection Agency = Class action lawsuit Debt collection company Virtuoso Sourcing Group has reached a class action lawsuit settlement over claims it violated the Fair Debt Collection Practice Act (FDCPA).

If you were sent a letter from Virtuoso Sourcing Group that failed to contain the creditor to whom the debt was owed during the period from November 2, 2010 through and including September 29, 2012, you may be eligible to claim a cash payment from the class action settlement.

Here’s what the Virtuoso class action settlement provides:

VSG has agreed to pay the amount of $40,000 to settle the claims in the lawsuit.

Under the terms of the Settlement, VSG is required to pay the Settlement Fund in 12 monthly installments of $3,333.33. The first installment shall be paid 30 days after the Court issues an order preliminarily approving the Settlement. Subsequent installments shall be paid in monthly installments thereafter.

Class Counsel will ask for Court approval for the Settlement Fund to be distributed as follows: $1,000 to be applied to an incentive payment to the named Plaintiff, 33 1/3% of the Settlement Fund to be applied to attorney fees, for the reimbursement of reasonable costs and expenses, for the payment of the costs of sending this Notice to the Settlement Class, and the distribution of the remaining amount on a pro rata basis to all Settlement Class Members who submitted a timely and properly executed Claim Form.

If you wish to participate in the class action settlement and receive a cash payment, you must submit a Claim Form postmarked no later than August 8, 2013 .

A Final Fairness Hearing is scheduled for August 6, 2013.

Claim Forms and more information on your rights in the Virtuoso Class Action Lawsuit Settlement can be found at www.VirtuosoSettlement.com .

The case is Kristen Selburg, et al. v. Virtuoso Sourcing Group LLC , Case No. 11-cv-1458-RLY-MJD, U.S. District Court for the Southern District of Indiana.

The law office of Chirnese L. Liverpool is a bankruptcy law firm in California and Nevada that can be reached at (818) 714-2200.

Share this:
Virtuoso Sourcing Group   Collection Agency = Class action lawsuit Virtuoso Sourcing Group   Collection Agency = Class action lawsuit Virtuoso Sourcing Group   Collection Agency = Class action lawsuit Virtuoso Sourcing Group   Collection Agency = Class action lawsuit Virtuoso Sourcing Group   Collection Agency = Class action lawsuit

Sallie Mae Collection Fee Class Action Lawsuit

6 October 2013

This article was originally posted on www.topclassactions.com

Sallie Mae Collection Fee Class Action LawsuitA federal judge has preliminarily approved a class action settlement between Sallie Mae Inc. and consumers who say the company unlawfully tacked on a 25 percent collection fee to defaulted student loans. If you were assessed and/or paid this fee while living in California, you may be eligible to receive a refund.

The Sallie Mae collection fee settlement resolves a 2011 class action lawsuit (Bottoni v. Sallie Mae Inc.) that claims these fees were illegal because they were imposed on defaulted loans that were handed over to third-party collection agencies – before Sallie Mae ever incurred them. In total, Sallie Mae assessed nearly $117 million in these allegedly improper collection fees between 2006 and 2010, according to the class action lawsuit.
Sallie Mae denies the allegations but has agreed to shave off $76 million in debt owed by over 40,000 California borrowers by refunding these consumers the fees they paid.

Class Members of the Sallie Mae collection fee settlement include all persons in California who, within the period from July 13, 2006 through May 31, 2013, were assessed and/or paid a Collection Cost Assessment in connection with a private education loan serviced by Sallie Mae, as identified by Sallie Mae from its records using its best efforts.

You will be considered “in California” if: 1) you were assessed a Collection Cost Assessment during the Class Period while residing in California, or 2) you were a California resident at the end of any month during the Class Period in which any payment was applied to your Collection Cost Assessment.

Under the terms of the class action settlement, the fees paid by these Class Members will be retroactively reduced to 8.75 percent at the time of charge-off, and will remain in effect for the life of the outstanding loan.

For borrowers who have paid off their loans, Sallie Mae will refund the difference between the amount of collection costs paid beyond the 8.75 percent rate and the amount that it wrote off in principal, interest and other fees, excluding collection costs. If the amount of collection costs paid in excess of 8.75 percent is less than the amount Sallie Mae wrote off, the borrower will get a $40 refund.

If you wish to participate in the class action settlement and receive a refund, you do not have to take any action. You will automatically receive the relief described above if the Court grants final approval to the settlement at the November 21, 2013 Final Fairness Hearing.

If you wish to exclude yourself or object to the settlement, you must do so by October 7, 2013.

More information on your rights in the Sallie Mae Collection Fee Class Action Settlement can be found at http://classaction.kccllc.net/CaseInfo.aspx?pas=SBI.

The case is Angelo Bottoni, et al. v. Sallie Mae Inc., et al., Case No. 3:10-cv-03602, in the U.S. District Court for the Northern District of California, San Francisco Division.

The law office of Chirnese L. Liverpool is a bankruptcy law firm and can be reached at (818) 714-2200.

Share this:
Sallie Mae Collection Fee Class Action Lawsuit Sallie Mae Collection Fee Class Action Lawsuit Sallie Mae Collection Fee Class Action Lawsuit Sallie Mae Collection Fee Class Action Lawsuit Sallie Mae Collection Fee Class Action Lawsuit

Is bankruptcy right for me?

26 September 2013

A common question people ask me is whether they should file for bankruptcy. They don’t want to file, but they also know that they cannot continue with the status quo. Here is what I ask them:

  1. Can you pay your bills as they come due and owing?
  2. Can you pay off your credit card bills in full in the next 12 months?
  3. If you own a house, do you have a fixed rate mortgage that you can payoff by the time you retire? Is your house worth what you owe against it?

If you have answered “no” to any of these questions, you should be considering whether a fresh start through bankruptcy maybe the right decision for you.

A fresh start has been provided to the Banks, the Investment Companies, and the Insurance Companies and a fresh start is available to consumers. Most home loan made between 2001-2007 could not be paid off on a person income. More than anyone, the banks knew that a person can only pay off a home loan debt of 2-2 1/2 times their gross household income in this lifetime and save for retirement and raise a child or two.

A fresh start for a consumer is usually a Chapter 7 bankruptcy. A Chapter 7 is a straight bankruptcy also known as a liquidation case. In a Chapter 7 case, all assets and liabilities are included and the Chapter 7 Trustee will have the right to liquidate non-exempt assets for the benefit of creditors. In exchange for including all assets and liabilities, an individual’s promise to pay on most debts are forgiven through a discharge.

In most cases, there are no assets available to creditors because all of the assets are exempt or encumbered by liens to the full extent of their value. Exempt assets that the Chapter 7 Trustee cannot reach include 401k, IRA, certain  retirement plans, equity in a car of up to $3,525, most household goods and furnishing, life insurance, most personal injury actions, and then $23,250 in other assets such as motorcycles, boats, RV or additional equity in cars or other items.

Most people who are having problems paying their bills qualify for Chapter 7 Bankruptcy either because their income is low or because their mortgage payments and other secured loans such as car loans are too high in relation to their income. However, a person should not delay in seeking legal advice. The loss of a home prior to a bankruptcy filing either through a short sale or foreclosure may make an individual’s income too high for a Chapter 7 and the only option will be Chapter 13 repayment plan which will last between 3-5 years. In addition, there may be personal liability and tax consequences which could have been eliminated in a bankruptcy.

In conclusion, if you are having financial problems, seek legal counsel. You did not make this real estate and credit card meltdown. There are serious personal liability and tax consequence of a short sale and foreclosure. Make sure you understand your legal rights prior to undertaking either a short sale or allowing your property to be foreclosed. Do not lose sleep and your sanity worrying about financial problems. Help is available to you just like it was to the Bank, Investment Companies and the Insurance Companies.

To find out more about whether a bankruptcy is the right solution for your financial future, contact the Bankruptcy Law Offices of Chirnese L. Liverpool at (818) 714-2200.

Share this:
Is bankruptcy right for me? Is bankruptcy right for me? Is bankruptcy right for me? Is bankruptcy right for me? Is bankruptcy right for me?

Should you feel guilty about filing bankruptcy?

26 September 2013

Our economy is based on consumer spending. Approximately 70% of the United States’ gross national product comes from consumers, who spend their hard-earned money on products and services. Spending has been advocated as a national duty by politicians for the past twenty years. Wherever we go are told “buy, buy, buy”. In recent years credit card companies have aggressively targeted even those consumers who should not have qualified for a credit card because of their debt-to-income ratio. Billions of credit applications are being sent every year to consumers without any meaningful credit checks in place. Consumers with low credit scores and young people have been targeted especially heavily in recent years. Credit card companies count on their future earning potential and expect that parents will pay if their children default.

Until recently, credit was readily available and it made it easy to live beyond one’s means. However, the downturn in the housing marked forced thousands of hard-working and modest people to use their credit cards as emergency funds to supplement their income. Mortgages adjusted and higher payments had to be paid while income had gone down.

Dont feel guilty any longer.  Give our bankruptcy law office a call to see whether bankruptcy is a great option for you or not.  We can be reached at (818) 714-2200.

Share this:
Should you feel guilty about filing bankruptcy? Should you feel guilty about filing bankruptcy? Should you feel guilty about filing bankruptcy? Should you feel guilty about filing bankruptcy? Should you feel guilty about filing bankruptcy?

Free yourself from Debt Burdens

4 September 2013

Van Nuys California Bankruptcy Attorney

Serving clients throughout the entire states of California and Nevada.

When a heavy load of debt has you backed into a financial corner, you CAN be debt-free again with help of the Law Offices of Chirnese L. Liverpool.

You don’t have to be crushed by debt
Let one of our professional personal bankruptcy attorneys help you decide whether bankruptcy is right for you. You can get help filing for Chapter 7, which eliminates your debts, or Chapter 13, which allows you to pay creditors over five years.

Learn what your options REALLY are
You can trust us to fully explain bankruptcy and its impact on your ability to keep your house, car, or retirement funds. When you consult us, you may also be able to stop foreclosures and utility shut-offs.

Figure out your credit future
You will also get the plain truth about how you can end credit card problems and then re-establish your credit. Our attorneys have experience that you can trust to put you on the path to a better financial future.

Free yourself from debt burdens

Let us inform you about your options

  • You’ll learn what bankruptcy is
  • Learn how to keep your house
  • Learn how to keep your car

Call the Law Offices of Chirnese L. Liverpool today at 818-714-2200 to schedule your appointment to lift your debt burden and put you on the path to financial freedom.

Share this:
Free yourself from Debt Burdens Free yourself from Debt Burdens Free yourself from Debt Burdens Free yourself from Debt Burdens Free yourself from Debt Burdens

Will my co-signers be protected if I file for bankruptcy?

3 September 2013

Can co-signers be protected in bankruptcy proceedings?

Co-signers can be protected in certain bankruptcy filings. If you are concerned about protecting your co-signers, you should consult with your Los Angeles bankruptcy lawyer, Chirnese L. Liverpool, to determine which bankruptcy filing is best for your particular situation.

If you decide to file a Chapter 7 bankruptcy, creditors are still able to proceed with collection efforts against your co-signers, even if the debt was discharged against you personally.

However, if you file Chapter 13 bankruptcy, a co-signer is protected if the following provisions are met:

  • The debt must be a consumer debt;
  • The debt cannot be incurred in the ordinary course of business;
  • The co-signer cannot benefit from the proceeds of the debt; and
  • The debtor must stick to the Chapter 13 bankruptcy payment agreement.

If you have specific questions regarding whether your co-signer will be protected when you decide to file for bankruptcy, feel free to contact the Law Offices of Chirnese L. Liverpool at (818) 714-2200 where we provide free phone consultations.

Share this:
Will my co signers be protected if I file for bankruptcy? Will my co signers be protected if I file for bankruptcy? Will my co signers be protected if I file for bankruptcy? Will my co signers be protected if I file for bankruptcy? Will my co signers be protected if I file for bankruptcy?

When the debt collector calls

26 August 2013

Today, we have a guest post from Domenic Holme:

While it’s a less than ideal situation, sometimes we find ourselves with our resources stretched thin.  When that happens, it’s easy to slip into debt and when that debt isn’t repaid is not uncommon that a debt collection agency becomes involved.  Sometimes these agencies are an internal office belonging to the owed entity, or it may be a third party agency, hired by the owed entity.

No matter the source of the debt collection, it’s critical to be prepared.   If you are contacted by a debt collector, you don’t want to over-react.  Yes, being contacted by a debt collector can be stressful, embarrassing, and make you feel vulnerable, but keeping your cool can make things much easier, especially as you communicate with the collector.

What do you communicate?  First, you want to verify the identity of the collector.  Who is he working for?  A first party?  A third?  Where is he located?  Second, have them confirm the debt.  The collector must provide proof—in writing—the details of the debt.  Third, record everything.  If possible, and legally it is possible, deal with the collector in writing.  Have them send everything to you via the Post Office.  That way you have dates and details and in the event of fraud, an error, or any other issue, you have proof to protect yourself.

On the topic of protection, consumers have a specific series of protection when it comes to debt collectors.  When people think of debt collectors, they often think of harassing, irritating individuals who call at all hours or show up and beat at the door.  While there are those more ardent debt collectors, this usually isn’t the case, since debtors are offered a modicum of protection with the Fair Debt Collection Practices Act (FDCPA).  Generally speaking, the FDCPA grants legal protections by spelling out rules for debt collectors designed to reduce abuse of debtors.

SOME PROTECTIONS STATED IN THE FDCPA:

 Phone hours – debt collectors must adhere to specific hours when contacting debtors.  The hours are 8:00 am to 9:00 pm (local time).  Essentially, as the act puts it, any time that is “inconvenient to the consumer.”  Additionally, collectors are not permitted continuous or repetitive calling.

 Communication cease and desist – debtors can write a cease and desist letter to the debt collector.  After the collector receives the written notice, there are still limited circumstances in which the collector can contact the debtor, including notifying the debtor that they are no longer pursuing collection.  Again, this cease and desist letter must be in written format and this doesn’t apply to communication directly related to litigation.

 Misrepresentation – The collector under no circumstances may represent himself in a “misleading” or “deception” fashion.  This misrepresentation can include altering the status or amount of the debt or lying about the collector’s status, affiliation, or relationship to any other party (such as the original collector if third party debt collector is involved).

Threatening legal action – Unless, of course, legal action can or will be taken.  Otherwise, it falls under misrepresentation.

You can see the entire FDCPA here at the Federal Trade Commission’s official website.

Attorney Chirnese L. Liverpool and her supportive staff are committed to helping clients through the sometimes overwhelming process of filing for bankruptcy. We provide personalized assistance and dedicate as much time as needed to help you obtain relief from the burden of your debt. To find out how we can help you, contact the Law Offices of Chirnese L. Liverpool at (818) 714-2200 today for a free initial phone consultation.

Domenic Holme is a finance specialist and freelance blogger who specializes in debt consolidation and debt relief.

Share this:
When the debt collector calls When the debt collector calls When the debt collector calls When the debt collector calls When the debt collector calls
Next Page »
  • Partner links