Debt Settlement vs Debt Consolidation Debt Settlement is the process of offering a lump sum in one or just a few payments that is smaller than the outstanding debt. Debt Consolidation is the process of “working with your creditors” to establish a more manageable payment plan over a long [continue reading]
Discharge in Bankruptcy
Receiving a Discharge in Bankruptcy In Chapter 7 and Chapter 13 bankruptcy cases you will automatically receive a discharge at the end of your case on debts which are dischargeable in bankruptcy. In certain circumstances, debt will not be discharged if specific requirements are not met. At Cohen [continue reading]
Discharging Student Loans in Bankruptcy
We have assisted and been successful in discharging some if not all of our clients’ student loan debt. However for all intents and purposes discharging student loans in bankruptcy is a very difficult prospect and something that is not within reach of most people. Frankly speaking, due to [continue reading]
Facilitative vs Evaluative Mediation
Most mediators use the facilitative mediation approach, where the mediator’s primary role is to facilitate a problem-solving conversation. A facilitative mediator focuses on the negotiation process.[1] Facilitative mediators assist the parties in identifying the issues, finding common underlying [continue reading]
Mediation & Divorce
Divorcing couples who use mediation, rather than litigation, typically are more pleased with the outcome of their divorces. “[M]ediation has been shown quantitatively to be superior to litigation in dealing with divorce cases” when measuring satisfaction with the mediation process, agreements [continue reading]
Mediation Explained
Mediation is a form of dispute resolution where a trained, neutral third-party assists disputing parties in facilitating a problem-solving conversation in an effort to settle their dispute.[1] In mediation, parties are able to explore facts and issues that would not necessarily be admissible or [continue reading]
Qualifying for Chapter 7 Bankruptcy
Chapter 7 bankruptcy offers many people a way to wipe the slate clean and rebuild financially. But, not everyone is eligible to file for Chapter 7 bankruptcy. One key determining factor is the “means test,” added to the U.S. Bankruptcy Code in 2005. The means test was created to address creditor [continue reading]
Receiving a 1099-C After Bankruptcy
Did you receive a 1099-C after your bankruptcy discharge? A creditor may have sent a 1099-C to you after they wrote-off your debt. If you had not filed bankruptcy, then you may have had to report the amount of forgiven debt on the 1099-C as gross income and pay taxes on the amount to the IRS. [continue reading]
Suprise You Owe Taxes
Guess What? You Owe Taxes on your Settled Debt! If you thought that settling your debt would be the end of it, think again. The amount you save through debt settlement is considered income and is taxable! Many consumers who end up settling their debt will receive an unwelcome surprise from the [continue reading]
What is Attorney Debt Settlement?
Attorney Debt Settlement vs Traditional Debt Settlement There are really 3 routes one can take when settling their debts: 1) Do it Alone; 2) Hire a Non-Attorney Debt Settlement Firm; 3) Hire an Attorney. Alone Non-Attorney Attorney Ability to Undertake Basic [continue reading]
Zombie Mortgage
What is a Zombie Mortgage? One of the many results of the real estate market collapse in the early 21st century was the advent of a “zombie mortgage.” Sometimes known as a “zombie foreclosure, zombie title, or zombie property,” this is the situation where a property owner has abandoned a [continue reading]
