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June 6th, 2011 Scott Wantland Posted in Bankruptcy, Chapter 7, Debt 5 Comments »

A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. Because a chapter 7 bankruptcy discharge is subject to many exceptions, though, debtors should consult competent legal counsel before filing to discuss the scope of the discharge. Generally individual debtors receive a discharge in more than 95 percent of chapter 7 cases. In most cases, unless a party in interest files a complaint objecting to the discharge or a motion to extend the time to object, the bankruptcy court will issue a discharge order relatively early in the case — generally, 60 to 90 days after the date first set for the meeting of creditors.

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April 17th, 2011 Scott Wantland Posted in Bankruptcy, Debt, Medical Debt 1 Comment »

Real people have to figure out how to pay bills

 

Credit to the Courier Journal.

Maybe Congress wouldn’t make it so hard for real families to get rid of medical debt if they had a budget like the rest of us.

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HELOC, Mortgage, Second Mortgage, Home Equity Line

April 7th, 2011 Scott Wantland Posted in Debt, Foreclosures, Lien, Mortgage 1 Comment »

There’s an old saying that a rose by any other name smells just as sweet.  The point of the saying is that no matter what you call an item, if it quacks like a duck, swims like a duck, has webbed feet…you get the point.

There’s something scary for a lot of people about getting mortgage.  They understand that it’s a loan against the house that if not repaid will result in foreclosure. 

Knowing that people are afraid of second mortgages, banksre creative and call them other things- home equity lines, HELOC, home equity loan- who cares what they call it.  They want you to borrow against your house.

It does not matter what it’s called.  If you sign a piece of paper that says my home stands good for my loan then you are signing a mortgage. 

Another play on words- it is what it is.  It doesn’t matter what you call it.

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The attorneys of Wantland Law in Shepherdsville, Kentucky, advise and represent individuals and families in bankruptcy cases and debtor-creditor negotiations in Bullitt County, Nelson County, Spencer County, Hardin County, Okolona, Jefferson County, Louisville, and such communities as Mount Washington, Brooks, Lebanon Junction, Bardstown, Taylorsville, Elizabethtown, Radcliff and Fort Knox.

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