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Creditors and Bankruptcy/Questions Answered by Expert Regan Shinski
| Subject | Date Asked |
| Judgement Seizure | 6/30/2011 |
| Q: I live in NY state and am completely disabled. I receive only social security disability as income ... A: I believe cars that have less than $4,000 in equity are exempt from seizure in New York. So, if ... | |
| How to calculate APR fees? | 6/28/2011 |
| Q: My intro credit APR of 0% is coming to an end (July 1). I now have a balance of $1,000. My new APR ... A: The terms are outlined in your credit card agreement. They can vary slightly from creditor to ... | |
| Auto Charge Off | 6/27/2011 |
| Q: The last payment I made on my car loan was in the Fall of 2008. Since then my account with my ... A: It is possible but difficult to get another auto loan while this is still showing as unpaid and/or ... | |
| Applying for CC and Mortgage | 6/20/2011 |
| Q: Am in the process of buying our first home and have pre-approval for mortgage (down payment is ... A: If you have a pre-approved mortgage I would NOT apply for new credit until the house closes. You ... | |
| Chapter 7 and Credit Report | 6/6/2011 |
| Q: I filed chapter 7 and it was discharged in May 2010. I included my credit cards in the bankruptcy. ... A: Yes. They should be reported as included in the bankruptcy with a zero balance. However, this does ... | |
| bank trying to collect defaulted account from beneficiary | 5/12/2011 |
| Q: my parents opened a checking account. they put me down as a beneficiary on the account. i did not ... A: I don't think so. I'm not sure why they would be trying to collect it from you. Send a dispute ... | |
| Personal Bankruptcy and LLC | 4/21/2011 |
| Q: I filed chapter 7 personal bankruptcy and received a discharge several months ago. After receiving ... A: Michael: If it is as you say, you should be fine. Ideally you would have some documents from the ... | |
| BANKRUPTCY AND PROPERTY TAXES | 4/16/2011 |
| Q: I AM IN ILL.AND HAVE BEEN IN CHAP.13 FOR TWO YRS.1 YR. LEFT AND MY CHAP DOSENT ALLOW ENOUGH MONEY TO ... A: Is the house/escrow listed in the chapter 13? If so, you can seek an adjustment to include this ... | |
| Car Loan Payoff | 4/13/2011 |
| Q: Shinski ... Hi Mr. Lee ... Is there any benefit to my credit rating if I maintain a car loan and ... A: There is no direct benefit to maintaining the loan as long as you have some installment loans ... | |
| Settlement | 4/1/2011 |
| Q: I fell behind on bills (husband had a brief period of being unemployed then found a new job but ... A: The key here is if they sent you an offer of settlement and if you have kept you end of the deal on ... | |
| Foreclosure after reaffirming debt | 3/29/2011 |
| Q: I filed for bankruptcy in April 2009 with a discharge date of August 2009 and reaffirmed both the ... A: In general, yes. A reaffirmation agreement basically means you agreed to keep the mortgages out of ... | |
| car repo | 3/28/2011 |
| Q: in 2005 i bought a car in Illinois in which my son co signed for. a few months after i got the car i ... A: It is very possible it is a legal lawsuit, but I cannot say for certain without obviously looking at ... | |
| Repossessed | 3/24/2011 |
| Q: My car was repossessed about 1 yr ago i had lost my job right when i took out my loan(car) within 3 ... A: Only credit repair can delete the repossession from your credit reports. For a repossession, this ... | |
| Settling my Debt | 2/15/2011 |
| Q: I was told that I could settle my debt with my collection agency for my medical bills. I know I ... A: Your answer really depends on a lot of factors. First on the banking issue, it depends on the ... | |
| Creditor Will Not Take a Payment | 2/15/2011 |
| Q: I had an account w/ US Bank that was sent to their collections department. I've been calling them ... A: I would not wait to hear from a collection agency if you have the money to pay it. You need to get ... | |
| Car Repo | 2/8/2011 |
| Q: I currently have a car loan with Capitalone and I'm over 7k upside down on the loan. the car is ... A: I'm sorry you are in this position. I'm not in the auto industry, so I would suggest also posting ... | |
| Chapter 13 co-debtor notification. | 2/6/2011 |
| Q: I am planning to file for chapter 13 bankruptcy in the near term. I have an existing auto loan (5 ... A: In general, no. However, remember that certain things are easy to find out through public records ... | |
| Privately funded loan | 2/5/2011 |
| Q: I have sold a vehicle to a friend and signed the title as lien holder as I have made a personal loan ... A: In general, the answer is "no". You must understand the relationship of how the credit bureaus ... | |
| Being sued by payday loan company please help!!! | 1/30/2011 |
| Q: Today My grandmother was served paper work, for a summons to go to court on a past payday loan I ... A: I really can't answer if you should pay, settle, or fight it. It really is a personal decision. If ... | |
| repo to chargeoff negotiating debt | 1/27/2011 |
| Q: I was married to a persuasive man for years and he convinced me to co-sign a auto loan with him. ... A: I would consider several factors in this case. First of all, to answer your immediate question, it ... | |
| Credit | 1/24/2011 |
| Q: I've just graduate high school and will be going to college in the fall. I need student loans and to ... A: You may be limited but there are options. I am assuming you are 18 or older. Start with some of ... | |
| BK7 - AFFIRMATION AGREEMENT HELP | 1/23/2011 |
| Q: You recently posted a question to Eduardo Martinez in category Creditors and Bankruptcy: Hello, I ... A: Sadly, you may have limited options here. In bankruptcy, the debt is either discharged (meaning the ... | |
| Unknown debt | 1/19/2011 |
| Q: I unexpectedly had an account go to collections. I opened an account for a $79 remaining balance ... A: Sure. These are the two biggest ones - the FCRA and FDCPA: ... | |
| Bankruptcy | 1/15/2011 |
| Q: When I file chapter 7 bankruptcy can i include payday loans? A: In general, yes. If they are tied to any titled vehicle or real estate it is more complicated. ... | |
| Credit Report | 1/14/2011 |
| Q: My husband and I filed for bankruptcy chapter 7 in 04/2004 and it was discharged in Aug of 2004. We ... A: This is basically a contradiction - as I'm sure you know. By default, if the account is not ... | |
| Unknown debt | 1/11/2011 |
| Q: I unexpectedly had an account go to collections. I opened an account for a $79 remaining balance ... A: There are provisions in the law that give you some options. It appears, due to your previous ... | |
| Charge off after settlement | 1/7/2011 |
| Q: My exhusband had the car he got in a divorce repossessed. Because I was the co-signer the creditors ... A: Based on what you are telling me, both are not accurately reporting on your credit reports. The way ... | |
| WAGE GARNISHMENTS | 1/6/2011 |
| Q: I HAVE A RETAINER FOR A LAWYER, AT WHAT POINT IN TIME TO WAGE GARNISHMENTS START? Current debt is ... A: The time is impossible to predict accurately. It varies by creditor, court, and other circumstances ... | |
| Deed in Lieu and Credit reporting | 1/2/2011 |
| Q: "In Mar I filed Ch7. It was Discharged in June. My mortgage debt was discharged. I want Bank of ... A: You have asked a fairly complex set of questions but I will try and clarify. Please repost if I ... | |
| Car Charge off | 12/30/2010 |
| Q: My dad cosigned for me. He filed bankruptcy over the summer and listed my car in the Bankruptcy.My ... A: I'm not sure I fully understand what happened here. Were you making payments? Are the payments ... | |
| Bankruptcy, foreclosure, collections | 12/29/2010 |
| Q: My partner was laid off in March of last year. We have already gone through foreclosure on our house ... A: Technically, any creditor can come after you as soon as the contract is breaching - meaning the ... | |
| Write off second mortgage/ boat reposession | 12/28/2010 |
| Q: TWO questions, specifically relating to tax consequesces. First- We have lived in our primary ... A: I can't answer if you will have to actually pay taxes on these amounts because that is a complex ... | |
| is bankruptcy my best option | 12/24/2010 |
| Q: I recently consulted an attorney about a credit card debt and loan that has been turned over to a ... A: I am a little surprised that you were recommended for chapter 13 instead of chapter 7 if you cannot ... | |
| 7 year old debt | 12/22/2010 |
| Q: Back in 2003 I stopped paying my Amex card. The balance was $11,000.00 plus that I had on it. In ... A: An account being "written off" is not what most people think it is. It is simply an accounting move ... | |
| Paying off Judgements and the affect of credit score | 12/18/2010 |
| Q: I had two judgement filed against me and is showing on my credit report; I would like to purchase a ... A: Dell: Sadly, paying off the judgements MAY have a short term negative only because it will enter a ... | |
| Debt Collection Response | 12/16/2010 |
| Q: I received a letter from a lawyer regarding a large debt i owe, I have been making regular payments ... A: Mark: There is no easy or one fits all answer to this. It is simply a matter of negotiation. Some ... | |
| mortgage | 12/15/2010 |
| Q: I am struggling with my mortgage right now due to my spouse being out of work.I am approximately 4 ... A: It's really hard for me to answer this. There is no "average". It will vary greatly by state laws, ... | |
| creditors and quit claim | 12/9/2010 |
| Q: I co-signed for my son to get a loan. I put my house up for collateral. Can the creditor come ... A: In most cases they can come after your home. Typically, they cannot take your home - meaning they ... | |
| Marriage and Credit | 12/6/2010 |
| Q: My fiance are getting married in March 2011. We need to buy a house. My credit is bad due to a ... A: You need to speak with a mortgage broker BEFORE you marry or purchase a house. This is not so much ... | |
| Ghost from the Past | 12/4/2010 |
| Q: Much like you, I some serious health issues years ago. The finance company for my car refused to ... A: Well, the first thing you need to find out is if the debt is within the statute of limitations. ... | |
| credit report | 12/2/2010 |
| Q: I recently got copies of my credit report from Experian, TransUnion, and Equifax. Under my credit ... A: This is not an issue that would affect your credit score. However, if the account has a COMPLETE ... | |
| Payday Loans | 12/1/2010 |
| Q: Back in the fall of 2009 I took out a payday loan. Two, actually, to travel home for an emergency. I ... A: It's a complicated question. In general, what would happen is that you would be sued civilly in ... | |
| Credit card overlimit charges | 11/27/2010 |
| Q: I maxed out a CC in 2005 ($600 limit) and at the time couldn't afford the late fee and minimum ... A: This depends on the terms of the credit agreement and what stage the collection of the account is ... | |
| filled bankruptcy- still paying morgage | 11/15/2010 |
| Q: i have been paying on the due date and am never late and never was the bank on the credit report has ... A: Sadly, you cannot. It really doesn't even have anything to do with the bankruptcy either. Credit ... | |
| Fico | 11/14/2010 |
| Q: I have worked hard to get my FICO up to 713. I'm proud of that and want to keep it up as I am ... A: Strictly from a credit score standpoint, I think it may be risky for you to open the new card. You ... | |
| No clue what's next... | 11/11/2010 |
| Q: In 2006, my partner of 10 years and I started an S-Corp and purchased a Mini-mart. We put both of ... A: I can't give you specific advice without a complete review of your credit. You gave me a pretty ... | |
| Need a strategy to deal with medical bills | 11/9/2010 |
| Q: My father (63yo) got himself into a world of trouble recently and I'd like some advice on what to ... A: You have to explore all options. To reduce the debt, you negotiate. There is no magic trick. You ... | |
| Returned Check Fees | 11/4/2010 |
| Q: Must an original creditor post a sign or notify a debtor that there is a returned check fee and the ... A: In general no. It's typically part of state law and not knowing the law is not a valid defense. ... | |
| Ex-wife filed bankruptcy & owes me money | 10/28/2010 |
| Q: My ex-wife filed Chapter 7 bankruptcy. Divorce is 4 yesr old. House in our names jointly. Youngest ... A: I can't say for sure what the odds of you getting any money back because I don't know the debt ... | |
| creditors lawsuit | 10/27/2010 |
| Q: I recieved a lawsuit from a creditor attorney who is suing for a creditor who is suing for another ... A: I'm sorry to say that I did not formally answer your question because I am really confused by it. ... | |
| repossession of owned houses | 10/25/2010 |
| Q: I heard a nasty rumor: that 3 banks in the U.S. are 'repossessing' houses that are owned, that have ... A: I am not aware of such activities and am highly suspect of it. It IS common for GOVERNMENT to cease ... | |
| credit repair- medical bills | 10/25/2010 |
| Q: i have 8 medical past due payments on my credit. how do i go about getting them cleared off my ... A: This is a difficult question to answer because it is so broad and really depends on some of the ... | |
| American Express | 10/23/2010 |
| Q: I filed Bankruptcy about 15 years ago. My credit now is excellent. One of my creditors was ... A: You could do that if it's readily available. Have they reported to the credit bureaus? If they ... | |
| I don't know what else to do but file bankruptcy | 10/20/2010 |
| Q: Mr. Shinski, Over the last 8 years, since my divorce, it's been getting harder and harder to ... A: I'm you are in this situation. There are several disqualifying factors for bankruptcy including ... | |
| Foreclosure and Bankruptcy | 10/19/2010 |
| Q: Our home is being foreclosed on in Arizona, and our date for it to go to Trustee's Sale was ... A: This is a very fluid situation with the banks and foreclosures right now. I'm sure you have read ... | |
| checking account | 10/19/2010 |
| Q: I have a sister in debt with some court judgements and some collections. Her only income is Social ... A: I would find out why you can't get a checking account. Most likely it's from prior negative ... | |
| Help with credit card debt | 9/22/2010 |
| Q: My husband and I have 4 kids and are expecting a surprise 5th one. I was planning on taking some ... A: i would refer you to a bankruptcy attorney in your state for your specific questions on what can or ... | |
| student loan repayment options | 9/18/2010 |
| Q: I am in a successful repayment on a student loan and my goal is to pay it off. Is it more beneficial ... A: You should pay as much as you can as soon as you can. That is the way to reduce the overall amount ... | |
| balance transfer checks | 9/17/2010 |
| Q: Discover card recently sent me some balance transfer checks. I called to ask if I could make them ... A: If you write the discover check to yourself, deposit it into a personal checking account and then ... | |
| settlement before pre-trial | 9/3/2010 |
| Q: And, thank you very much for answering my previous question. I was served a summons for court. I ... A: This time period is a very common time to settle. Ideally, it would have been a little sooner ... | |
| Chapter 7 repo | 9/1/2010 |
| Q: I filed Chapter 7 Bankruptsy in Washington State. My attorney stated I did not need to file a ... A: I belive they can. Normally how this works is the debt is listed and technically discharged in the ... | |
| A 25 year old with almost 10,000 in debt | 8/31/2010 |
| Q: My daughter has reached a low point in her life and is facing mounting debts and bad credit at only ... A: I realize the situation sounds hopeless but it really is not. First of all, $10,000 is really not ... | |
| car repo | 8/21/2010 |
| Q: My car was totaled in a car accident in 2001. After that I lost my job. So I called the finance ... A: Really tough to say. Depends on the creditor. Many will file a lawsuit AFTER the SOL because if ... | |
| car repo | 8/20/2010 |
| Q: My car was totaled in a car accident in 2001. After that I lost my job. So I called the finance ... A: I see Illinois SOL is 10 years for a written contract and 4 years for breach of contract sale. Not ... | |
| Post bankruptcy credit reports | 8/11/2010 |
| Q: First, having read your profile, congratulations for the proactive manner in which you dealt with ... A: Please see my answers in CAPS to your specific questions (copied and pasted below): 1) I had 3 ... | |
| car repo | 8/9/2010 |
| Q: My car was totaled in a car accident in 2001. After that I lost my job. So I called the finance ... A: You are incorrect in your statement that the seven years starts over. A car repo should stay on ... | |
| chap 7 bk and reaffirmation on car | 8/4/2010 |
| Q: I retained a BK lawyer in Dec 09 to file chap 7. I was charged over $2300.00 for he to do it. She ... A: I'm afraid you will not like my answer. The answer is I can't answer it with certainty because I'm ... | |
| Finance house or car first? | 8/2/2010 |
| Q: We are needing to purchase a house & car within the next month. I'm just not sure which we should ... A: There is a good chance your housing lender may pull your credit again just before closing. Meaning ... | |
| Taking Over Joint Credit Card Due To Bankruptcy | 7/28/2010 |
| Q: I'm a joint account holder on my father's credit card. He is the primary user on the account but I'm ... A: The situation you are talking about depends on the creditor, timing, and to a certain degree, state ... | |
| Mortgage problems | 7/20/2010 |
| Q: We have an offer from our lender: Forebearance. The deal: For 6 months, we can pay only $450 per ... A: I cannot answer this question because it varies by lender. They will send you a forbearance ... | |
| Should I file for bankruptcy or try to settle? | 7/19/2010 |
| Q: I currently owe probably 6-7k in credit card debt. Plus I still owe 13k on my car. After only ... A: Filing bankruptcy is a deeply personal decision, so I hesitate to advise one way or another. In ... | |
| Repo | 7/16/2010 |
| Q: I filed for bankruptcy on July 1st. My vehicle was repoed on July 10th. What are my rights as far as ... A: It depends on your state, how the auto was listed in the bankruptcy, and most importantly how and ... | |
| Bankruptcy - Wage Garnishments | 7/15/2010 |
| Q: How long does it normally take to stop wage garnishments after you have filed your Chapter 7 ... A: This REALLY varies by the court and also where the garnishment order is coming from but it should be ... | |
| car repo? | 7/13/2010 |
| Q: I have purchased a truck back in February and paid 2500 plus a trade in. I have made all payments ... A: Sounds like they don't have a case if it is like you say. They key will obviously be clean title ... | |
| Records Retention | 6/1/2010 |
| Q: I am inquiring how long should one hold on to their bills/statements/tax records after they have ... A: Tony: A seemingly simple question is not as simple as it sounds. There are issues with state tax ... | |
| Fair Credit reporting | 5/25/2010 |
| Q: A loan to a person went bad in Dec 2001 and they got a judgement in 2004. It is still showing on my ... A: A judgement will stay on seven years from entry, in some cases and states it can stay on longer but ... | |
| Death and a credit card | 5/2/2010 |
| Q: I have a question from upstate NY. My father recently passed away 2 weeks ago. I have the Power of ... A: Sorry for your loss, I know having to handle all this stuff doesn't help. There are times like ... | |
| Judgement | 4/29/2010 |
| Q: To make a long story short I'm in the process of trying to resolve my husband's collection problem.. ... A: Is it legal for them to have taken over 600.00 without crediting all of it towards the collection ... | |
| Judgement | 4/28/2010 |
| Q: To make a long story short I'm in the process of trying to resolve my husband's collection problem.. ... A: I sorry you are in this position and wish I had better news for you. The following comment is not ... | |
| Recently Settled Jugement, now what? | 4/27/2010 |
| Q: I had two judgements that was affecting my ability to get a home for a mortgage. I was able to ... A: There are three options. They go in order. The best option (credit wise) takes the longest and the ... | |
| Written Off Credit Card Debt | 4/21/2010 |
| Q: I have a credit card that was written off as bad debt months ago. The original creditor calls my ... A: It is more difficult to deal with issues like this when it is the original creditor calling. They ... | |
| Secured and unsecured credit cards | 4/19/2010 |
| Q: I have a Sears Gold MC and a Sears Card. I am having to file BK due to unforeseen med bills,and ... A: Assuming they were straight out purchased and not under some rental-type agreement, it likely they ... | |
| do I file for bankrupcy ? | 4/10/2010 |
| Q: In the past 18 months I have had medical bills that have added up. The MRI copays and Dr copays ... A: it sounds like you have done a good job trying to address this by negotiating where you can. I will ... | |
| Short Sales vs Bankruptcy - Affect on Credit Score | 4/9/2010 |
| Q: First off, I would like to thank you for your time. Its very much appreciated. My big question is ... A: No one says those lenders make sense! They just have certain hard rules they adhere to and they ... | |
| Short Sales vs Bankruptcy - Affect on Credit Score | 4/9/2010 |
| Q: First off, I would like to thank you for your time. Its very much appreciated. My big question is ... A: It is unlikely a lender will take a short sale while the loan is current. Most will only take a ... | |
| new credit card law | 4/6/2010 |
| Q: I've heard that, with the new 2009 credit card law, banks can/will start charging interest from day ... A: "Deny." This process actually was allowed and no ends. To quote an AP story: No more ... | |
| credit cards | 4/1/2010 |
| Q: I live in the state of Nebraska. I have been working with a debt settlement company which now I know ... A: I can't answer with certainty because I don't know how far along you are in the collection process ... | |
| getting out of debt | 3/25/2010 |
| Q: Have 3 credit cards. One low interest and two at 13%. All 3 cards have about 5k each on them. ... A: Technically, if all three cards had the SAME interest rate it would not matter which you paid ... | |
| FICO auto industry score | 3/24/2010 |
| Q: Let me start off by saying that my credit is far from great. When I graduated college and got a ... A: Fair Isaac %26 Company (FICO) produces several products that they sell to their clients/lenders. ... | |
| Owe Federal Back Taxes | 3/18/2010 |
| Q: Can I put IRS on a Bankrupts? A: Usually not but you can discharge (wipe out) debts for federal income taxes in Chapter 7 bankruptcy ... | |
| collection agencies | 3/17/2010 |
| Q: I have several delinquent accounts totaling in the thousands. I live in a state that doesn't allow ... A: Well, it really depends on those state laws you mentioned. Even though your state may not allow ... | |
| Creditors' rights on Probate property | 3/16/2010 |
| Q: My husband died lately. House under his name, have to open a probate. There are credit card and ... A: I'm very sorry for your loss. It's not easy having the burden of handling probate on top of it. IF ... | |
| Payday loans and bankruptcy | 3/14/2010 |
| Q: I have several outstanding payday loans and I am considering filing bankruptcy. However, I would ... A: I can't answer how your employer will view any bankruptcy you may file. It depends on the employer ... | |
| Payday loans and bankruptcy | 3/14/2010 |
| Q: I have several outstanding payday loans and I am considering filing bankruptcy. However, I would ... A: Most creditors will not, actually cannot, accept payment on accounts that have been included in a ... | |
| Credit card & credit | 2/25/2010 |
| Q: I've heard you should use your (paid off) credit cards at least twice a year to maintain a good ... A: Technically, you do not need to use your credit card to maintain your credit score. In fact, credit ... | |
| bankrupcy and marriage | 2/24/2010 |
| Q: Iam 32 years old currently disabled and receiving SSDI. I only receive about 630 a month from that. ... A: In general, he will not be responsible for debts you incurred before the marriage. There are ... | |
| credit cards | 2/22/2010 |
| Q: Those credit agencies that say they can cut your crecit bills by up to 70%... I have $45,000 in ... A: I don't like them. There may a few reputable ones but they perform no function you cannot do ... | |
| Medical Biling | 2/17/2010 |
| Q: The claim submission in 2008 for anesthesia services related to a colonoscopy procedure was denied ... A: I want to preface my comments with an additional disclaimer that this appears to be a very ... | |
| creditors told me i need to get Representation | 2/13/2010 |
| Q: i have an old credit card for a 500 limit. In 2006 i had just gotting out of highschool .I didn't ... A: The first thing you should do is verify if the debt is still within the statute of limitations. you ... | |
| large phone bill got to colection agence | 2/10/2010 |
| Q: I went to Europe for three weeks and came back with $ 5800 phone bill. I called them to switch my ... A: This is difficult for me to address specifically because I don't have access to your bills or ... | |
| In Chapter 13 and want to get married | 2/9/2010 |
| Q: I have a very serous predicament. I have been paying on my Chapter 13 for about 13 months. It is a ... A: Kim: In general, no. You should research your state and find out if you are in a community or ... | |
| auto repo after bankruotcy | 2/6/2010 |
| Q: I filled bankruptcy 2 yrs ago. I reaffirmed my car loan but since have lost my job. Is there any way ... A: I you mean it was a discharged chapter 7 from two years ago, probably not. If you are in the middle ... | |
| settling debt | 2/2/2010 |
| Q: I am about 20,000 unsecured debt. I am considering quitting my job at the end of the year to move ... A: You can always try and settle. I'm not sure about the 20-30%. It depends on the creditor and the ... | |
| Judgments in Ch. 7 Bankruptcy | 2/1/2010 |
| Q: I live in FL and have been sued twice. The credit card companies got a stipulation that I paid on ... A: You really can't do anything until the bankruptcy is dismissed. Then you file a motion to vacate ... | |
| Bankruptcy discharges | 1/27/2010 |
| Q: Mr. Shinsky I sold a home two years ago by short sale. The sale closed four days before I went to ... A: I would dispute the mortgage account directly with the credit bureaus. Send the information from ... | |
| Bankruptcy discharges | 1/27/2010 |
| Q: Mr. Shinsky I sold a home two years ago by short sale. The sale closed four days before I went to ... A: Scott: It's going to be difficult for me to answer your questions with certainty because I haven't ... | |
| creditor notification | 1/25/2010 |
| Q: I won a judgement for a personal loan against someone. While in the process of trying to collect ... A: Sadly, very little rights. You can file a motion with the court stating you were not notified. The ... | |
| judgements/settlement | 1/24/2010 |
| Q: I got in real financial trouble a couple of years ago (last payment made in 2007) and now I am ... A: Can you easily afford to pay these down? How long would it take you to pay them off? Are they ... | |
| A friends car loan. | 1/22/2010 |
| Q: A friend purchased a vehicle for me assuming I would pay the loan. When I decided to file bankruptcy ... A: Possibly. I don't know how probable though. When you file bankruptcy, you have to list all assets, ... | |
| Settling Bad Car Loan | 1/20/2010 |
| Q: I have a 5 year loan on a 2001 car. The car itself is worth around $1000 and I have a loan balance ... A: Any bank COULD settle ANY account for virtually ANY terms, however most larger banks will not settle ... | |
| means | 1/14/2010 |
| Q: Was wondering if unemployment money counts towards means test? Also, I am currently living with my ... A: No, for income I think they will only include your average for six months months if you were on your ... | |
| means | 1/13/2010 |
| Q: Was wondering if unemployment money counts towards means test? Also, I am currently living with my ... A: All money typically counts towards the means test except social security. In addition, your income ... | |
| pension | 1/12/2010 |
| Q: I live in az and am considering filing bankruptcy. Although I am not sure if I will file in az or ... A: I would not cash it out until after the discharge, you may lose the protection bankruptcy provides. ... | |
| Judgement effect on credit score | 1/12/2010 |
| Q: I have a credit score in the mid 700's. I make all my payments on time etc. I had partnered with a ... A: Sadly, if a judgement shows up on a very good credit file it will likely have a devasting impact. A ... | |
| repo of RV | 1/10/2010 |
| Q: I bought an RV in April 2008 for $95K Now 21 months later due to the recession this RV has lost ... A: I'm sorry to say it's going to crush your credit but it's already likely taken a big hit with a ... | |
| consumer law attorneys | 1/8/2010 |
| Q: I have been getting calls from Apothaker And Assoc. concerning a debt. I have been corresponding ... A: His advice has merits but is also nothing you cannot do for yourself. It does not make sense to me ... | |
| charge off or bankrupcy? | 1/8/2010 |
| Q: I'll make this short. I'm 61 working, my husband is 82 semi-retired. We had five properties. four ... A: You are talking about two separate issues. A charge-off is simply an accounting move done by the ... | |
| experian credit report | 1/5/2010 |
| Q: I filled bankruptcy in 1995. Experian has me listed as the settlement was do to bankruptcy with a ... A: You should dispute this with the Experian directly. Send a simple letter to them stating the ... | |
| Bankruptcy and the irs | 12/21/2009 |
| Q: I have a business loan from the sba and have gone out of business due to the economy. The loan is ... A: Lenders can issue you a 1009-C for the forgiveness of debt. How it relates to your taxes depends on ... | |
| should i file bankruptcy?! | 12/16/2009 |
| Q: I have around 15,000 in unsecured credit card debt, i have been sommoned to file an awancer to one ... A: I'm sorry you are in this position, you are not alone. If you can't increase your income or make ... | |
| Loan express harrasment | 12/15/2009 |
| Q: when I recieved my payday loan I was not able to pay it off and was recieving phone calls directly ... A: The only way you can be arrested is if you committed a crime. In this case, it would be if you used ... | |
| credit interest increase | 11/30/2009 |
| Q: I have 5 credit cards with balances. 2 of them I have just recieved notice that the interest rates ... A: It depends on the agreement for your fixed rate promotions. If you have a guaranteed promotion, it ... | |
| disabled vet and credit card vet | 11/23/2009 |
| Q: I am a disabled veteran, 100% unemployable, three of my credit cards have been raised to 32%apr and ... A: Those assets are only at risk if they sue you and get a judgement against you. Even then, they can ... | |
| bank levy on medical bill | 11/13/2009 |
| Q: i nearly died form stork in march and had no insurance can an attorneys office levy my bank acct for ... A: I'm sorry for your medical issues. I hope you are doing better :) Potentially they can eventually ... | |
| being sued for medical bills HELP!!! | 11/11/2009 |
| Q: I live in central KY.In February i was served with a summons for medical bills in the amount of ... A: Very confusing and difficult situation. First, if the same thing happens and they don't show up ... | |
| bankruptcy | 11/10/2009 |
| Q: My 05 Nissan altima is being reposed on the 14th of this month. My payoff is still 19,000 after 19 ... A: After the repossession, they will sell the car in a "commercially reasonable manner." This is ... | |
| how often need to use card? | 11/8/2009 |
| Q: You recently advised me that I have a 'thin file' and it would be good to get another credit card, ... A: It won't LOWER your score not using it but you want to be sure you use it at least once in this ... | |
| automatic judgement | 11/6/2009 |
| Q: A credit card debit judgement enter against me on Oct 14 2009 claiming that I did not answer summons ... A: I am assuming you mean you have a default judgement against you. This is usually the case if the ... | |
| 1099C | 11/3/2009 |
| Q: I am in the middle of working out final details for settlement in full with Wells Fargo Auto Finance ... A: Likely not with a big company. The 1099c is obviously a tax document. They send those for their ... | |
| Being sued - bankruptcy? | 11/1/2009 |
| Q: I have over $10,000 in debt(the one I am being sued for is $1700). I have not spoken with any of my ... A: If you are certain both of you will be filing and can qualify for the chapter 7 means test whether ... | |
| cosigner of car loan | 11/1/2009 |
| Q: my x husband was awarded all rights and responsibility of his 2006 car in our divorce, it is ... A: No. He can't have it both ways. He either has to pay for it or give up the vehicle if your name is ... | |
| chapter 7 | 10/29/2009 |
| Q: I have a sallie Mae loan as a student loan and a loan with the cooking school I attended and ... A: Sorry to say "No." If a debt is not dischargeable in bankruptcy, then the interest is not either. ... | |
| t mobile bill | 10/22/2009 |
| Q: "hi I have a outstanding bill with t mobile that i cannot afford to pay as i am currently unemployed ... A: You asked for the worst case scenario. Here you go: First T-mobile may report it on your credit ... | |
| Credit Card Rejection | 10/21/2009 |
| Q: I recently applied for a store credit card and my application was rejected. The letter said it was ... A: What will show up on your credit reports is a hard inquiry. This simply shows that you applied for ... | |
| buying a car after bankruptcy | 10/18/2009 |
| Q: My husband and I filed late July, had our credit meeting late August and are currently waiting for ... A: Vi: I can't answer when the discharge would happen because there are just so many factors. I'm not ... | |
| Lender's Rights? | 10/15/2009 |
| Q: Some months back, I'd made the horrible error of loaning to a person, whom I thought was my friend, ... A: There are only certain debts that CANNOT be discharged (eliminated) through a chapter 7 bankruptcy. ... | |
| Salle Mae Career Training loans | 10/14/2009 |
| Q: My wife and I are looking to file bankruptcy soon. we have met with two different lawyers and and ... A: Jason: The law was amended in 2005 to say private student loans cannot be discharged unless the ... | |
| Creditor Contempt Of Court | 10/13/2009 |
| Q: My wife filed Bankruptcy on June 30, 2008. I did not at the time because I had only 7 years between ... A: If it is as you say, they may have violated the stay. Not even may - they did. After the filing and ... | |
| Creditor Contempt Of Court | 10/12/2009 |
| Q: My wife filed Bankruptcy on June 30, 2008. I did not at the time because I had only 7 years between ... A: I am sorry to say that I believe your case is not strong. You may have a minor technical violation ... | |
| Credit Card debt - Negotiating relief | 10/8/2009 |
| Q: Here's our dilemma: We own a home and can afford to make our payments. Our monthly expenses are ... A: I'm not exactly sure what you are asking because you said you can currently make all the payments. ... | |
| Surrendered Vehicle in Bankruptcy | 10/8/2009 |
| Q: I surrendered my vehicle during my bankruptcy proceedings, and the bank after 1 year is still ... A: The first step is to send a dispute letter to each of the three major credit bureaus - Experian, ... | |
| How to approach suing a creditor | 10/6/2009 |
| Q: How would I file in court to get a order to have my credit corrected? I have read on-line about ... A: Your case seems complicated but sound. I'm hoping it is well documented - meaning you have hard ... | |
| credit dispute | 10/1/2009 |
| Q: EVEN IF THE CREDITORS CORRECT THE ACCOUNT THAT I DISPUTED CAN I STILL BRING BANKRUPTCY VIOLATION OF ... A: Larger institutions like Capital One can be difficult and stubborn. It sounds like you have a ... | |
| Calls after BK discharge | 9/30/2009 |
| Q: I filed BK on 3-30-09 and discharged 7-15-09. We had a Home Equity Line of Credit with National ... A: For the purposes of this reply, I will assume the creditor has violated bankruptcy law. How ... | |
| credit education | 9/29/2009 |
| Q: as many are, i am going through a tough financial time. i do not want to be taken advantage of or ... A: My knowledge is through experience and education but nothing specific - just 10+ years of monitoring ... | |
| Home equity loan | 9/27/2009 |
| Q: I bought my house in 2001 for $265,000. When the infamous real estate boom was at its prime I made ... A: I'm sorry to hear you and so many others are in a similar state with their homes. I'm not sure I ... | |
| credit dispute | 9/27/2009 |
| Q: EVEN IF THE CREDITORS CORRECT THE ACCOUNT THAT I DISPUTED CAN I STILL BRING BANKRUPTCY VIOLATION OF ... A: If it is as you say, I think it's a fairly egregious violation of the bankruptcy laws. Like I said ... | |
| Should I dispute an entry in my credit report? | 9/27/2009 |
| Q: I had a Chapter 7 bankruptcy discharged in July 2004. My credit score is okay considering the ... A: I would. Based on what you are saying there is no down side to doing so. I would dispute them as ... | |
| credit dispute | 9/26/2009 |
| Q: EVEN IF THE CREDITORS CORRECT THE ACCOUNT THAT I DISPUTED CAN I STILL BRING BANKRUPTCY VIOLATION OF ... A: It's possible. However, if it was a simple error that they corrected, you will likely not win. A ... | |
| loan company harassment | 9/25/2009 |
| Q: How by law can i get a loan company to stop calling and harassing me?..thank you A: It's going to be a tough road. First, this reply assumes you are talking about a first-party ... | |
| Foreclosure | 9/23/2009 |
| Q: Daughter filed chapter 13. She has fallen behind in her mortgage payment by three months. THE BANK ... A: The bank will likely file a motion with the bankruptcy court to remove the automatic stay. The stay ... | |
| harassing calls after bankruptcy discharge | 9/23/2009 |
| Q: IN AUGUST OF 2008 I RECEIVED MY DISCHARGE PAPERS FOR CHAPTER 7 BANKRUPTCY. IN NOVEMBER 2008,I ... A: If the account was DISCHARGED through chapter 7, they should not contact you. Not necessarily the ... | |
| harassing calls after bankruptcy discharge | 9/22/2009 |
| Q: IN AUGUST OF 2008 I RECEIVED MY DISCHARGE PAPERS FOR CHAPTER 7 BANKRUPTCY. IN NOVEMBER 2008,I ... A: Sorry. I re-read your initial question and didn't get that harassment is going to be a major ... | |
| harassing calls after bankruptcy discharge | 9/22/2009 |
| Q: IN AUGUST OF 2008 I RECEIVED MY DISCHARGE PAPERS FOR CHAPTER 7 BANKRUPTCY. IN NOVEMBER 2008,I ... A: For the purposes of this answer I will just take your word (and it seems correct) that the creditor ... | |
| Annual Percentage Rates | 9/21/2009 |
| Q: I'm not sure whether or not you can answer my question, but I'll welcome your reply. On my credit ... A: My understanding is that "nominal ANNUAL percentage" and "annual percentage" are the same - as ... | |
| Collection agency calls | 9/18/2009 |
| Q: My dad just passed away and was the primary caregiver for my mother who has Alzheimers, she is now ... A: Sorry for the awful news and the burden you are carrying. You should tell them the truth. Who is ... | |
| default on loan | 9/18/2009 |
| Q: I bought a F-150 in June of this year for 28K,everything was fine when I bought it and now things ... A: Sorry you are in this situation, but certainly you are not alone! A repossession is very bad for ... | |
| Inheritance when claiming bankruptcy | 9/16/2009 |
| Q: My wife's cousin would like to know what she does if she is currently claiming bankruptcy and has an ... A: Unfortunately, the answer is "it depends." It depends greatly on the state, how the inheritance is ... | |
| Bank calling about loans 1 day late | 9/16/2009 |
| Q: I'm in the middle of a nightmare, so my question may be long-winded because of my frustration! We ... A: Holly: If it is as you say, you can only be forcibly removed from your house through the ... | |
| Bank calling about loans 1 day late | 9/15/2009 |
| Q: I'm in the middle of a nightmare, so my question may be long-winded because of my frustration! We ... A: I am so sorry for everything you have been through. Cheer up, it will pass :) I had so many ... | |
| Timing of BK | 9/14/2009 |
| Q: It would not allow me to submit a follow-up, so sending this as a new question. Is there a timing ... A: The timing shouldn't matter other than your attorney may need to file an amended petition. I am ... | |
| Bankruptcy - Unsecured or Secured Debt? | 9/13/2009 |
| Q: I'm not sure if you can answer my question but hoping you can. My father just recently filed for ... A: There are a lot of factors at play here, so you really need an attorney that is on top of this. If ... | |
| Bankruptcy - Unsecured or Secured Debt? | 9/13/2009 |
| Q: I'm not sure if you can answer my question but hoping you can. My father just recently filed for ... A: I know you asked a couple questions quickly, so be sure to read both answers. They kind of overlap. ... | |
| Bankruptcy - Unsecured or Secured Debt? | 9/13/2009 |
| Q: I'm not sure if you can answer my question but hoping you can. My father just recently filed for ... A: Whether or not the mortgage is secured or unsecured depends on if it is secured by the home. Say ... | |
| Bankruptcy - Unsecured or Secured Debt? | 9/13/2009 |
| Q: I'm not sure if you can answer my question but hoping you can. My father just recently filed for ... A: There are so many variables here it hard for me to say with certainty. What stage the foreclosure ... | |
| Collection letter | 9/12/2009 |
| Q: I received a collection letter from Allied Interstate ,out of Southgate, Mi concerning a credit card ... A: You have a few options depending on how aggressive you want to be. First, you can do nothing. In ... | |
Creditors and Bankruptcy
Answers by Expert:
Regan Shinski
Top Expert on this page
Expertise
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit reporting.
Experience
Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports.
Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry.
I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA).
I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage.
In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.
Education/Credentials
BA - University of Minnesota
Past/Present Clients
(private)
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