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Creditors and Bankruptcy/Questions
| Subject | Date Asked | Expert |
| loan approval or disapproval! | 11/29/2008 | Michael Brotherton |
| Q: This mortgage broker company approved my VA home loan even i didn't have money to close the loan. ... A: You may file a complaint with the Dept. of Commerce who licenses loan officers and mortgage ... | ||
| Going into Chapter 13 | 11/26/2008 | David |
| Q: need to go into it fast. Once I visit the attorney and pay the required deposit How long it takes ... A: The protection from BK is immediate. Life after BK isn't too bad if you take some simple steps to ... | ||
| Going into Chapter 13 | 11/26/2008 | Michael Brotherton |
| Q: I need to go into it fast (I owe tax money). Once I visit the attorney and pay the required deposit ... A: It depends on your attorney, how fast they can prepare the paperwork, but as soon as the bk is filed ... | ||
| Repo Advice | 11/25/2008 | Michael Brotherton |
| Q: About a 2 years ago we bought a 2001 VW beetle, our interest rate was about 12% kinda high, then ... A: You can run an add in the local paper and try to sell the VW or the trck and submit any offers you ... | ||
| creditor judgement | 11/22/2008 | Michael Brotherton |
| Q: I live in Ohio and I recently was contacted by an agency saying I was going to be sued for a past ... A: Your disability is exempt from attachment and your husbands accoun t cannot be touched. If they file ... | ||
| use of credit cards after bankruptcy | 11/21/2008 | Michael Brotherton |
| Q: I receintly filed and had my bankruptcy for Chp. 7, discharged granted (me) the debtor. I had/have ... A: If they were listed on your schedule of debts the accounts were likely closed by the credit grantor ... | ||
| Time Share Foreclosure | 11/21/2008 | Michael Brotherton |
| Q: would default on a non-deeded (membership w/points) time share be classified as a foreclosure? It's ... A: If the time share is not deeded it may not be a true timeshare. Real Estate law is particularly ... | ||
| Collection Account on my Credit Report | 11/20/2008 | David |
| Q: When I purchased my house over a year and a half ago, I had very good credit. I just checked my ... A: Anita, In my experience there are very few collection agencies that will remove the mark. If you ... | ||
| jointly financed car | 11/20/2008 | Michael Brotherton |
| Q: In May 2007 my ex husband ( weve been divorced since 1995) agreed to help me get a nice car to dirve ... A: You may do that but it would not relieve you of that obligation. Legally he may come back and sue ... | ||
| Is my only home with a mortgage protected duriing bankruptcy if it is not my primary residence | 11/20/2008 | Michael Brotherton |
| Q: My fiancee and I have a mortgage on a modular home on property in my name in NC, it is the only ... A: Although the property may be an issue in a bankruptcy case I believe you may get around that issue ... | ||
| Garnishments and Collections | 11/19/2008 | Ontrack Financial Group llc |
| Q: In late 2006 I lost my job and was unemployed for 3 mos before obtaining new employment. In that ... A: We understand how hard it can be to under this much stress. We can provide some help during this ... | ||
| Credit Card Collection Laws | 11/19/2008 | Michael Brotherton |
| Q: I live in Texas and in July of 2003, my job was outsourced and my position terminated. I was ... A: The Statute of Limitations on debt collection in Texas is 4 years.It appears the SOL is expired. You ... | ||
| auto repo and difecicey | 11/19/2008 | Michael Brotherton |
| Q: I have recieved a letter from a debt collector on an auto deficiency. I don't owe this, I disputed ... A: The SOL is from the date of last payment so 1/2009 would be the cutoff. They could sue you unless ... | ||
| Car Repossession after divorce | 11/18/2008 | David |
| Q: Last December my wife and I were divorced in Washington, D.C. In the divorce decree, a car we had ... A: Dave This situation may have an easy solution. By contacting the lender and providing them a copy ... | ||
| Paying off credit card with another credit card | 11/18/2008 | Michael Brotherton |
| Q: I got in trouble with American Express about 2.5 years ago but reached and agreement with the ... A: Actually, if the account was already in collection there is virtually no difference. A settlement is ... | ||
| Credit Score | 11/18/2008 | David |
| Q: I filed for bankruptcy 11/04 and paid off the case 1/06 which was early and the case was discharged ... A: Richard- I assume your filing was under chapter 13 since you mentioned the wage earner plan. If ... | ||
| LOANS AFTER CHAPTER 13 | 11/18/2008 | Ontrack Financial Group llc |
| Q: My husband and I just finished chapter 13 bankruptcy in October, 2008. My husband has the idea that ... A: He has already affected your credit in 2 ways. By requesting a loan, he has placed an inquiry on ... | ||
| back child support and bankruptcy | 11/18/2008 | Ontrack Financial Group llc |
| Q: can back child support that is owed to the state of w.v. be dismissed thru filing bankruptcy. the ... A: According to my findings The following debts cannot be discharged in either Chapter 7 or Chapter 13 ... | ||
| what bankruptcy covers | 11/18/2008 | David |
| Q: I have a debt of about $10,000 from an auto accident (property damage only) and owe over$3,000 to ... A: As much as I wish I could get that detailed with you, I'll have to recommend you speak to a BK ... | ||
| Time Share Foreclosure | 11/17/2008 | Michael Brotherton |
| Q: would default on a non-deeded (membership w/points) time share be classified as a foreclosure? It's ... A: In most states a time share is a deeded transaction and does require foreclosure much like a fully ... | ||
| Credit Score/Loans | 11/17/2008 | Ontrack Financial Group llc |
| Q: I am 32 years old and have a large amount of savings in the bank. I am getting married in May. Most ... A: A 733 score is AWESOME! Stay with the Visa you have. If you apply for another one, the inquiry ... | ||
| ESOP | 11/17/2008 | Michael Brotherton |
| Q: I have an ESOP Account that I should be receiving in a month. I am unemployed now and on the brink ... A: You didn't say how much you have in the ESOP. You may be able to settle your credit card debt for ... | ||
| personal loans and bankruptcy | 11/17/2008 | David |
| Q: My (now) ex owes me a substantial amount of money that I lent to him. Since we just broke up today, ... A: Amina- Yes, we typically use the initials BK to represent the word bankruptcy. As far as taking ... | ||
| personal loans and bankruptcy | 11/17/2008 | David |
| Q: My (now) ex owes me a substantial amount of money that I lent to him. Since we just broke up today, ... A: Sorry, but the answer is yes. Personal loans are included as long as they were not taken with the ... | ||
| credit card debt and bankruptcy | 11/15/2008 | Michael Brotherton |
| Q: i have credit card debt of $14,000 and not able to make my min payments plus my other bills , so i'm ... A: First, it may be considered a fraud and it may disqualify you from filing or raise issues that would ... | ||
| House is paid-off, drowning in CC debt! | 11/14/2008 | Ontrack Financial Group llc |
| Q: We set up our original home loan on 15 years and have just paid it off; however, we have about ... A: Sharon, The suggestion (refinancing) will help in a few ways. 1. Can write off the mortgage ... | ||
| repo after bankrupty | 11/14/2008 | Ontrack Financial Group llc |
| Q: my wife and i filed chapter 7 on the old bankrupty law in july of 2005 we had two car loans with ... A: Robert, Since the truck was returned and discharged under the bankruptcy the bank can not request ... | ||
| Bankruptcy & Foreclosure | 11/13/2008 | Michael Brotherton |
| Q: I am asking for my mother that went thru a NASTY divorce. The house was left to him, with the ... A: If there is a bankruptcy they must wait until there is a release from the automatic stay which is ... | ||
| cosigning and bankruptcy | 11/13/2008 | David |
| Q: we cosigned for our son a loan to purchase a franchise with training. The business has not been ... A: If he files BK the creditor has the right to collect from the co-signer. The only advice I can ... | ||
| chapter 13 | 11/13/2008 | Michael Brotherton |
| Q: i have a house in ny name with approx. 60% equity, first and second mortages are in my name also. ... A: NO, you will need to look for a new mortgage. A consolidation loan is a loan against the equity in ... | ||
| Blue Hippo Negative Credit Report | 11/13/2008 | Ontrack Financial Group llc |
| Q: A couple of years ago I ordered a Computer from Blue Hippo Company and opted to make weekly payments ... A: Below you will find some information I was able to locate about this company. First is a list of ... | ||
| repo after bankrupty | 11/12/2008 | Ontrack Financial Group llc |
| Q: my wife and i filed chapter 7 on the old bankrupty law in july of 2005 we had two car loans with ... A: In order to answer I need a little more information. Robert, was the truck returned as part of ... | ||
| Small Claim Judgement | 11/12/2008 | Ontrack Financial Group llc |
| Q: I was granted my judgement. The defendant agreed and signed paper work to pay monies owed to me in 4 ... A: Tony, Thank you for your question. The bankruptcy payment does affect the payment to you. The ... | ||
| Refinance after divorce and bankruptcy | 11/12/2008 | Ontrack Financial Group llc |
| Q: Divorce in 2003, full bankruptcy one month later in 2004. Trying to refinance with current lendor ... A: There is case authority in virutally all of the federal circuit courts that have dealt with this ... | ||
| Refinance after divorce and bankruptcy | 11/12/2008 | Ontrack Financial Group llc |
| Q: Divorce in 2003, full bankruptcy one month later in 2004. Trying to refinance with current lendor ... A: Kevin, Thank you for your question. The accounts that are on your credit bureau should be ... | ||
| auto repo and difecicey | 11/12/2008 | Michael Brotherton |
| Q: I have recieved a letter from a debt collector on an auto deficiency. I don't owe this, I disputed ... A: I would say you need to seek local legal counsel and take action against the creditor for causing ... | ||
| Paying off credit card with another credit card | 11/12/2008 | Michael Brotherton |
| Q: I got in trouble with American Express about 2.5 years ago but reached and agreement with the ... A: Probably not unless they agree to a settlement for less than the balance on the account. If you can ... | ||
| Bankruptcy question | 11/12/2008 | Michael Brotherton |
| Q: I recently consulted a bankruptcy lawyer and she decided we were candidates for Chapter 7. We filed ... A: Although it is not likely they would object to discharge it is possible. The only reason I say it is ... | ||
| repossession | 11/11/2008 | Michael Brotherton |
| Q: I have a vehicle that I own more than the kelly blue book value is worth. I cannot make payments. ... A: Your best option is to run an ad in the local paper or advertiser and try to sell the vehicle. If ... | ||
| hOW MUCH LONGER WILL MY BANKRUPTCY BE ON MY CREDIT REPORT? | 11/11/2008 | David |
| Q: I want to thank you in advance for any helpful info you can give me. I filed bankruptcy in ... A: Tammy- After carefully searching we have the same answer of 10 years. To be 100 percent sure I ... | ||
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Creditors and Bankruptcy
Answers by Expert:
Michael Brotherton
Top Expert on this page
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. We are well versed in Loss Mitigation practices and the legal collection process. We have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
28 years in financial services industry as a loan officer and debt collctor. Developed bankruptcy and loss prevention manual for large finance company for manager training. 15 years as a debt counselor and consumer advocate.
Education/Credentials
Veterans sponsored OJT Manager Candidate Scool for AVCO Financial Services, Keystones to Management for ITT Financial Services, Certified Finance Management for Associates Financial Services.
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