Bankruptcy Practice
Bankruptcy Blog 
Bankruptcy in St Louis
- September Newsletter Hot Off the Press
- 4 Reasons Why Internet Loans Are A Bad Idea
- How To Be a Savvy Credit Card Holder
- Five Big Bills You Can Cut Now
- Credit Counseling "Services" Really Aren't
- Senior Citizens More Than Two Times Likely to File for Bankruptcy Relief
- Obama Supports Changes to Bankruptcy Process
- Record Number of People Helped to Avoid Foreclosure
- Consumer Credit Counseling Service Not All It's Cracked Up To Be.
- Confessions of a Subprime Lender Revealed
Library
Bankruptcy in St Louis
- Cash Advance Loans Only a Temporary Fix for Debt Relief
- Actions to Avoid When Searching For Debt Relief
- Credit Card Landmines
- Even after filing bankruptcy, there are places to turn when you are desparate for more relief
- Assistance programs available to help after bankruptcy if you still can't make ends meet
Newsletter
Castle Blog
Bankruptcy in St Louis
September Newsletter Hot Off the Press
Just got done with my September newsletter. You can read it in its entirety by clicking here. My main story this month is the lessons I learned from my 16 year old son's recent auto accident. Also, you will see a new question & answer section that I will change up every month. You can read all of our past newsletters in the library section of our website.Read More about "September Newsletter Hot Off the Press"
4 Reasons Why Internet Loans Are A Bad Idea
If you are a fan of late night or daytime television, you have undoubtedly seen those endless commercials featuring actor Gary Coleman pushing cash loans from the Internet. The message is basically you can get a quick payment of cash right to your checking account with a simple application process.
The company being promoted by Gary Coleman is CashCall.com. As you can expect, if an offer is too good to be true, it probably is. In looking at the offer on the commercial and their website, this company takes advantage of people in many ways and you should be weary of taking any money from them.
I have just finished a more in depth article on this company. You can find it in our library section.
Castle Law Group and St. Louis bankruptcy attorney James Brown frequently help people avoid foreclosure, repossession and wage garnishment by filing chapter 7 or chapter 13 bankruptcy relief. If you would like to find out more about what options you have to get out of credit card debt, you can request a free copy of my book "7 Critical Mistakes to Avoid the Dismissal of your Bankruptcy Case" or give us a call toll free at 1-866-570-8484.
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How To Be a Savvy Credit Card Holder
Castle Law Office of St. Louis is always looking for ways to help you stay out of a financial crisis. The best way to stay out of debt and prevent negative charges to your account is to make sure you are not spending money that you do not have. If you follow this guideline and pay your bills on time, you will not have to worry about the credit card companies raising rates or changing terms on you and keep you out of a difficult financial situation.The following article provides you with 12 steps to credit card success, and as long as you follow these strategies you will be living in financial freedom. It is time for you, the consumer, to get smart about credit and beat the credit card issuers for a change.
If you feel like you are still falling behind and getting into a financial crisis, St. Louis, Missouri and Illinois bankruptcy attorney James R. Brown with Castle Law Office has helped more than 20,000 families get the relief they need and obtain a discharge in a Chapter 7 or Chapter 13 bankruptcy. For more information, order our Ultimate Debt Relief Package or call us for free at 1-866-570-8484.
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Five Big Bills You Can Cut Now
Castle Law Group is constantly looking for ways to help the average consumer get the help they need to provide for their families, especially in today's harsh economy. As prices increase on every product from milk to gasoline, everyone is looking for quick and simple ways to cut expenses and save some extra cash. Fortunately there are several different ways to easily cut your expenses, however some will save more cash than others. Add up all your expenses, and you will see that you could cut your annual expenses by hundreds of dollars or more. I found an article that will show you five different ways you can go about cutting your expenses and saving up that extra cash for whatever it is you need. These tips will help you during this time of a struggling economy, and will still benefit you once the economy begins to thrive again.
If things continue to get worse and you feel that your debt and credit cards are out of control, or if you are facing a foreclosure, repossession or wage garnishment, St. Louis, Missouri and Illinois bankruptcy attorney James R. Brown with Castle Law Office has helped more than 20,000 families get the relief they need and obtain a discharge in a Chapter 7 or Chapter 13 bankruptcy. For more information, order our free Ultimate Debt Relief Package or call us for free at 1-866-570-8484
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Credit Counseling "Services" Really Aren't
Before you go running to the services of a debt relief agency, you should read this article in Consumer Affairs.You will find that while there are a few credit counseling services that do good work, there are plenty who won't do much for you, and some who will even prey on you in your moment of financial weakness.
http://www.consumeraffairs.com/debt_counsel/debt_counseling.html
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Senior Citizens More Than Two Times Likely to File for Bankruptcy Relief
I just recently posted a news article on my website about a new report that will come out in January from the Consumer Bankruptcy Project citing very interesting statistics about senior citizens 55 years of age and older and the growing need for bankruptcy relief. The Consumer Bankruptcy Project is made up of a group of researchers from Harvard Law School. The report will appear in the January edition of the Harvard Law and Policy Review.
The growing cost of healthcare and the fixed income levels of most senior citizens has been the leading causes in this dramatic increase in the need for bankruptcy help. Castle Law Office and St. Louis bankruptcy attorney James Brown frequently represents senior citizens who are in similar circumstances. If you would like to find out more about the options you have, visit our website today or call us toll free at 1-866-570-8484.
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Obama Supports Changes to Bankruptcy Process
In a speech given earlier in July, Senator Barack Obama has come forward to tell the American people that he has plans to change the bankruptcy laws to help ease the burden on certain groups of citizens like the elderly and military. He openly criticized his opponent, Senator John McCain for putting the needs of credit card companies and banks ahead of the average worker, according to an Atlanta Journal-Constitution story.It's been a long time since there has been somebody in Washington to fight for the honest, average hard working American and help them get through this struggle of overwhelming debt. Quoted in a Wall Street Journal Article, law professor Robert Lawless of the University of Illinois indicated how Obama's targeted proposals are about as far as someone can go without saying that he would undo the 2005 bankruptcy law.
St. Louis, Missouri and Illinois bankruptcy attorney James Brown with Castle Law Office has been battling the credit industry for over 15 years helping over 20,000 families get the debt relief they need through a Chapter 7 or Chapter 13 bankruptcy case.
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Record Number of People Helped to Avoid Foreclosure
New reports are out showing that across the US, record numbers of families have avoided foreclosure through loan workouts of some kind according to Hope Now, an organization prompted by the U.S. Department of Treasury last October to reach out to families in danger of foreclosure. In July, more than 192,000 borrowers took advantage of some type of restructuring their mortgage to avoid losing their home. You can read more on these reports by clicking here.
Of course, many more families either cannot qualify for this kind of help or do not know it is available to them. Castle Law Office of St. Louis and St. Louis bankruptcy attorney James Brown help people to put together a plan to save their home and get back on their feet. In many cases, a Chapter 13 repayment plan can stop the foreclosure and allow the Missouri and Illinois homeowner a chance to save their home. If things are too bad to save the home, in many cases a Chapter 7 can be considered to get the debt relief needed.
James Brown is the published author of "7 Critical Mistakes to Avoid the Dismissal of your Bankruptcy Case" and provides those books free of charge to anyone in Missouri and Illinois. People don't realize they have a number of options to consider when facing a foreclosure. To learn more, you can go to our website or call us for free at 1-866-570-8484.
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Consumer Credit Counseling Service Not All It's Cracked Up To Be.
I just posted a news item about an article I recently ran across on the consumer credit counseling agencies that you will want to take a look at before you consider using them as an alternative to bankruptcy. You can find this an other useful news items in our News section.Castle Law Office has represented over 20,000 families in the St. Louis, Missouri and Illinois areas file for bankruptcy relief. If you would like to find out more, check out the information on our website or call us toll free at 1-866-570-8484.
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Confessions of a Subprime Lender Revealed
I recently ran across an article and video that reveals the tactics used by many in the subprime lending business to lure people into loans they cannot afford. You can read the full article in the News section of this website. It is a shame that so many people are getting caught up in this mess in an honest attempt to provide a home for their family. The unfortunate result is that more homes are going into foreclosure than ever before.The good news is there is releif available through a Chapter 7 or Chapter 13 bankruptcy. If you simply want to get out of the loan and surrender the property back to the lender, a Chapter 7 might be the best scenario for you. If you want to save the home and continue to make payments on it, you should contact us to check into whether you qualify for a Chapter 13 bankruptcy.
A Chapter 7 or Chapter 13 bankruptcy can be a complex case which, if not done properly, could lead to the loss of your property or dismissal of your case. Before you talk with any creditor or lawyer about your situation, you should request a copy of my book "7 Critical Mistakes to Avoid the Dismissal of your Bankruptcy Case". I wrote the book so you would be informed about the options you have and what to do to avoid bad things from happening in your case.
Castle Law Office has represented over 20,000 families in the last 15 years successfully get their debt under control and get the relief they need. If you would like to find out more about the bankruptcy process, including the insider secrets the credit card companies don't want you to know, visit our main website. Or call our office toll free at 1-866-570-8484.
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Want To Improve Credit? Don't Make The Mistake Of A Credit Protection Program
In today's economy with rising gas prices, inflation, the mortgage crisis and higher unemployment rates, it is not suprising that the number of bankruptcy cases being filed is on the rise. However, Chapter 7 and Chapter 13 bankruptcy is not for everyone. I am commonly asked as to what alternatives to bankruptcy there are.One of those alternatives is credit protection programs. A credit protection program charges a monthly fee to basically monitor your credit score and alert you if something bad happens. These are mostly online credit protection programs that hook you into a yearly membership fee.
Here is the truth on these things:
1. They first claim they will access a 3-in-1 credit report for you for a price. This is unnecessary as you can obtain the same information for free by going to AnnualCreditReport.com.
2. They also offer to monitor your credit activity every business day, but you can do the exact same thing by watching your bank statements.
3. If you feel like you must have a regular update on your credit report, instead of paying over $140 per year to one of these credit protection programs, you can sign up for this service at myFICO.com or one of the three credit bureaus and you will save over $100.00.
Finally, just monitoring your credit file will not necessarily mean you will be able to maintain or improve your credit score. There are several steps that you can take to stay on track without paying someone to do it. The first step should be to order a copy of my free book "10 Must Know Secrets to the Life You Dreamed of After Bankruptcy".
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How Long Can A Creditor Try To Collect A Debt
Have you ever opened the mail to find a notice from a collection agency for a bill that you have no clue what it is for? After looking into it, you realize it is a debt from 10 years ago? The first question that usually comes to mind is: Do I have to pay for this?Well, it comes down to the statute of limitations, which is legalese for the amount of time in which a lawsuit must be filed against you by that creditor. Every state has different lengths of time for their statute of limitations, but the Missouri limitations on enforcement are as follows:
Open Account (credit card): 5 years
Written Contract: 10 years
Domestic Judment: 10 years (renewable every 3 years)
Foreign Judgment: 10 years (renewable every 3 years)
For Illinois, use the following:
Open Account (credit card): 5 years
Written Contract: 10 years
Domestic Judgment: 20 years
Foreign Judgment: use limitations period in foreign jurisdiction
Keep in mind that the statute of limitations on debt only means they cannot sue you after that time period has passed. However, it doesn't mean they have to stop trying to collect. In addition, even though the debt is old, it can still hurt your credit for as long as they are reporting the debt delinquent. Debts remain on your credit report for at least 7 years from the date of last reporting.
Finally, keep in mind that a few debts are not subject to the staute of limitations such as child support, student loans, taxes and certain fines.
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Secret Ways Car Dealers Squeeze More From You Finally Revealed
It seems a recent poll has shown that car dealers do not make the majority of their money on the actual sale of the vehicles. Many people seem to think they make most of their profits on the re-sale of trade-ins, but that is not the case.As a car shopper, once you have the deal worked out with your salesman and you are taken to the finance office, that is where you need to be on your toes. This is the place where all of the extras, features, taxes and insurance that you probably don't want or need are added into your loan agreement.
This is also the place where it is the easiest to get you to say YES. You are thrilled at getting the new car and in most cases, you simply tell the finance guy yes to all of those little things he suggests should be added to benefit your purchase. Normally, he does this by pointing out how smart you are and you wouldn't want to get caught without such extras.
It all seems easy enough, but when you roll all of those extras into your loan and finance it over 3-6 years, you are paying way more than you should be for the services provided.
The best advice is to do your homework before you go to the dealer. Know what your likely interest rate will be based on your credit score. Research all options for your vehicle before you get there so you don't get caught in the position of agreeing to suggested add-ons. And finally, always negotiate the actual price of the vehicle, not just what fits into a monthly payment for you.
Follow these guidelines and you can feel confident the next time you step into a car dealership to get that great deal.
If you would like to read more, click here.
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Penalties Make Up HALF of Credit Card Industry Profits
The Christian Science Monitor recently published an article that digs very deep into the less-than-ethical practices of the credit card industry.
Aside from mentioning the standard practice of changing interest rates for no reason at all, the author also makes the startling revelation that penalties make up half of the revenue of credit card companies.
For more information, follow the link below.
http://www.csmonitor.com/2008/0813/p09s01-coop.html
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Tell the Feds About Your Credit Card Woes
The Federal Reserve Board is giving consumers a chance to finally speak their minds about the predatory lending practices of credit card companies.
To submit a comment on how your rates change with the wind or the pointless and absurd fees that you are charged on a regular basis, follow the link below.
This could all be leading to serious credit card reform, which is good for all of us.
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Questions About The Housing Bill?
A sweeping housing bill was signed into law today that should provide some relief to homeowners that are struggling under the mortgage crisis.
To find out how these new rules and regulations will affect you, follow the link below to a summary of the new law.
http://www.house.gov/apps/list/press/financialsvcs_dem/press072308.shtml
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Merger Leads to Local Layoffs
As if the economy wasn't in enough trouble, things are about to get a little worse locally.
A merger at Thompson Reuters Corporation is expected to cause about 100 St. Louis area layoffs.
It's not as if the St. Louis area needs any more examples of how economic certainty can hit anyone at anytime, but this serves as a fine one.
http://stlouis.bizjournals.com/stlouis/stories/2008/06/16/story3.html
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Is it the Competitive Spirit or is it Debt Collectors?
It turns out that Evander Holyfield isn't necessarily fighting past his prime because he wants to. It probably has something more to do with a stack of bills.
Holyfield has an enormous estate in Atlanta, and lives what is by all reports an extravagant lifestyle.
If you follow the link below, you'll find an article that will give you a better idea as to why Holyfield is planning on putting the gloves back on.
http://www.secondsout.com/World/news.cfm?ccs=225&cs=24850
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Let's Go To The Movies
There is a wonderful documentary out called "Maxed Out."
It is a documentary that gives a real and accurate portrayal of the credit card industry and the people that make billions off of rigging the system.
This should be required viewing for everyone, and not just those that are in need of bankruptcy attorneys.
Follow the link below for more information.
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News
- Life After Foreclosure Isn't Pretty - Why Bankruptcy Can Help...
- Fenton, MO Chrysler Plant to Close...
- New Study Shows Declining Credit Card Use Among Americans Due to Economic Downturn...
- Credit Card Debt Piling Up for Americans...
- St. Louis Post-Dispatch newspaper cuts 18 positions to trim costs...
- Alabama sewage job drags county down the drain...
- Bankruptcy Cases Higher for Senior Citizens in Missouri and Illinois...
- St. Louis Bankruptcy Attorney Reveals Subprime Lenders Confessions...
- Credit Counseling in St. Louis, Missouri and Illinois May Do More Harm Than Good...
- How To Come Back From Bankruptcy...