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Creditors and Bankruptcy/Questions
| Subject | Date Asked | Expert |
| Bankruptcy | 3/13/2009 | David |
| Q: My home building business went under leaving me with considerable debt that I was personally liable ... A: Susan, The only possibility is that it may be removed through a proper dispute process. We have ... | ||
| hawaii repo | 3/10/2009 | David |
| Q: I needed another important question that you helped me with. If I cannot sell my car outright here ... A: You own the car and will until it is repo'd. You can take it anywhere you want too. You will not ... | ||
| Voluntary repo? | 3/9/2009 | David |
| Q: My husband and I were in excellent financial condition several years ago, now, like many other ... A: The repo will probably result in a 100 point drop in his credit. After that you'll have to deal ... | ||
| Credit Card Companies | 3/8/2009 | David |
| Q: I wonder if you could offer a timeline as to 1. when you miss your first payment on a credit card , ... A: 1. calls begin as soon as you are late. 2. Turned over to collections department/ sold to collection ... | ||
| creditors/bankruptcy/ | 3/8/2009 | David |
| Q: I have been combing your site and thank you for your efforts. Our story is the same as many ... A: Crystal, Most of these questions should be answered by your attorney. In my experience the ... | ||
| Possible repo in Hawaii | 3/8/2009 | David |
| Q: I purchased a chrysler pt cruser in 2006 in Hawaii. I lost my job because of the recession. I don’t ... A: leilani, Many lenders are affording debt repayment options now including auto lenders. One of my ... | ||
| creditors | 3/7/2009 | David |
| Q: Is it legal for the credit union that I have my car loan with to send me to the creditors 30 days ... A: They can report you 1 day after the due date if they want too. Most lenders offer a 15-30 day grace ... | ||
| debt forgiveness affect on credit score | 3/5/2009 | David |
| Q: My wife has a dept store credit card with $2,800 balance. She asked about a payoff settlement. They ... A: Yes it will be significant for about a year and it will gradually lessen. She'll probably drop 60 ... | ||
| Bankruptcy | 3/3/2009 | David |
| Q: If I file bankruptcy after the Foreclosure process has been stared. Will the account be reported on ... A: Your credit report will record all thew negative activity for 7-15 years depending on the item. ... | ||
| Bankruptcy | 3/2/2009 | David |
| Q: If I file bankruptcy after the Foreclosure process has been stared. Will the account be reported on ... A: Both. Don't overthink it. Once you get to the point of needing BK protection your credit is ... | ||
| voluntary return | 3/2/2009 | Michael Brotherton |
| Q: I have a lease which I paid 577.00 for I just got laid off if I turn in the vehicle how would it ... A: If you turn it in early without paying the early termonation fee it will be treated just like a ... | ||
| Being Sued By Credit Card | 3/1/2009 | Michael Brotherton |
| Q: Help! I was just served by the Sherriff's Dept a notice that I am being sued civilly in court for ... A: Sorry for the delay. I have been inundated with questions. Anyway, this is a civil mater not a ... | ||
| contracting with a company on the brink of bankruptcy | 2/28/2009 | Michael Brotherton |
| Q: I've been contracting for the same company for about 5 years and they've never missed a payment. ... A: At this point it is speculation that they are filing bankruptcy until you have evidence to support ... | ||
| Unsecured debt and levy/judgement | 2/26/2009 | Michael Brotherton |
| Q: I am very glad I found this site. I have aWe currently live in PA but had owned property in FL ... A: I'm afraid you were duped by Countrywide. First, you were talked into signing the note which I would ... | ||
| Chapter 7 Dismissal | 2/26/2009 | David |
| Q: In December 2006 I filed a chapter7 and it was dismissed in January 2007. My credit has been ... A: taking 2 steps will greatly increase your score. 1. Go to www.financialscoringsolutions.com and ... | ||
| How will voluntary repo after auto was discharged affect my credit? | 2/25/2009 | David |
| Q: I filed bankruptcy in 2004, and my Dodge van was included. I have continued to make payments of $400 ... A: Anita, It will lower your credit and continue to effect you for about 7 years. There are steps you ... | ||
| Voluntary surrender, divorce and bk | 2/24/2009 | David |
| Q: I am currently going through a divorce and have a 2006 Tahoe that I can't afford. I want to ... A: Kathleen, Your husband will have his credit effected and be held responsibly for the debt as long ... | ||
| bankruptcy | 2/23/2009 | David |
| Q: i was thinking about filling for bankruptcy because i cannot pay my bills due to unemployment. but ... A: je, I am not a BK attorney. The cost will vary greatly from attorney to attorney. It also makes a ... | ||
| Old hospital bills | 2/23/2009 | David |
| Q: I have two unpaid hospital bills one is almost $18,000 and it's been in collections for about 7 ... A: Before you negotiate a payoff research what the statute of limitations on collection in your state. ... | ||
| credit card debt | 2/21/2009 | David |
| Q: first thanks for providing this service. I have a lot of credit card debt acquired during the start ... A: Your welcome. Each card will be different. They are a lot easier to negotiate a payoff with than ... | ||
| unpaid bill still reported dispite discharged bankruptcy | 2/21/2009 | David |
| Q: I filed bankruptcy in 2003 in the state of Washington and was discharged the same year. One of the ... A: LaVeta, It is true that the account will appear showing the BK for 10 years. Your best bet is to ... | ||
| credit card debt | 2/20/2009 | David |
| Q: first thanks for providing this service. I have a lot of credit card debt acquired during the start ... A: Gary, I'll give you a brief overview of how CC collection generally works. You can download the ... | ||
| credit card advances and BK-7 | 2/11/2009 | David |
| Q: I was victim of an 80% drop in income and job loss in the past 3 years. I've been using credit card ... A: Chris, The trustee may hold you responsible for debt incurred within 90 days of filing. Just wait ... | ||
| Canadian with Debt in the U.S. | 2/10/2009 | Michael Brotherton |
| Q: I have a large amount of credit card debt, all on cards issued in the U.S. during my employment on a ... A: First, you cannot pay out what you dont have. And debt collectors cannot do anything to you short of ... | ||
| filing bankruptcy | 2/9/2009 | Michael Brotherton |
| Q: I was laid off from a job and my new job pays about 15,000 less. I have significant debt and I am ... A: If you have a lot of equity (over $5k) you may not be able to file Ch7 without liquidating your home ... | ||
| Car Repo - Balance Owed by Co-signer | 2/8/2009 | Michael Brotherton |
| Q: I have a question concerning a vehicle repo from 2006. My daughter had a car repossessed back in ... A: You would probably have to negotiate with the law firm. They are pretty strict on this and once they ... | ||
| Motorhome Settlement Hopes | 2/8/2009 | Michael Brotherton |
| Q: I bought a motorhome with a loan in the summer of 2007 that is now the bane of my existence. At ... A: Sorry for thew delay in responding. I have been inundated with questions which I love answering but ... | ||
| Chapter 7 bankruptcy | 2/7/2009 | Michael Brotherton |
| Q: I filed a Chapter 7 bankruptcy last week and I have a rental agreement (for a TV)from Aaron's (It's ... A: Did you discuss this with your attorney? Most leases and/or rental agreements are terminated in a ... | ||
| bankruptcy | 2/6/2009 | Michael Brotherton |
| Q: Brotherton, I live in the state of Illinois. I have my primary resident and a home that I am ... A: Without more information on your overall income and expenses it is difficult to answer your first ... | ||
| BK Question | 2/6/2009 | Michael Brotherton |
| Q: My boyfriend and father of kids, has filed for Bankruptcy. We have some items that are in both of ... A: Each state allows a debtor to exempt certain property from attachment or seizure in a bankruptcy ... | ||
| Judgement Threat | 2/5/2009 | Ontrack Financial Group llc |
| Q: I have an outstanding debt with a credit card company that they are threatening to file a judgement ... A: Good job on paying down 60k. Your dealing with a debt collector that has reviewed your credit ... | ||
| judgement question | 2/3/2009 | Michael Brotherton |
| Q: I have already asked the following once. I haven't seen an answer on my e-mail or on your previous ... A: It is possible for a creditor to attach a tax refund once they have a judgment. And the best option ... | ||
| keep the rv | 2/2/2009 | Ontrack Financial Group llc |
| Q: We have been trying to hold on for some time now. we have come to the conclusion that we can no ... A: It's an unfortunate situation your in. You are allowed certain exemptions, these vary by state, if ... | ||
| credit card | 2/2/2009 | Michael Brotherton |
| Q: I have a credit card at Circiut City, who has filed bankruptcy,who do I pay the balance to or do I ... A: Continue making payments to the address and payee on your statements or if you do not get statements ... | ||
| debt settlement | 1/31/2009 | Michael Brotherton |
| Q: I am resubmitting a previous question. The initial response I received requested additonal ... A: I am no longer with a law firm and cannot represent you in court, however most collection lawsuits ... | ||
| bankruptcy and car repo did not reaffrim | 1/31/2009 | Michael Brotherton |
| Q: my husband and i filed bankruptcy in April of 08. my husbands job was down sizing and he was had to ... A: No, You do not owe them for the deficiency. You will need to make them aware that you did not ... | ||
| put property back in my sister's name?? | 1/30/2009 | Michael Brotherton |
| Q: the property i live on-my home and cottages i rent out- was left to my sister and myself in a living ... A: It is not a strange question. In fact, it is fairly common for someone considering bankruptcy or one ... | ||
| stop paying credit cards? | 1/30/2009 | Michael Brotherton |
| Q: i am recently divorced. my ex and i racked up $48,000 in credit card debt. he is supposed to pay ... A: Although it may take several months to get to the point of any serious action being taken, the ... | ||
| debt settlement | 1/30/2009 | Michael Brotherton |
| Q: I am resubmitting a previous question. The initial response I received requested additonal ... A: Account for the $2000 in your proposal. Whatever your total proposal is deduct the #2k as a good ... | ||
| debt settlement | 1/29/2009 | Michael Brotherton |
| Q: I am resubmitting a previous question. The initial response I received requested additonal ... A: First, the collection agency is just trying to tweak you. It would not be productive to sue you if ... | ||
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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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