Sometimes people find themselves falling behind on their mortgage payments and face the dreaded “F” word = foreclosure. People may fall behind because of a medical issue or a temporary job loss. Often times these same people have restored their income such that they can make the ongoing mortgage payments but cannot write a check […]
Michael O’Brien’s Blog
Forgiving Medical Debt For Those In Need
On behalf of a client I recently discovered this program. Since Legacy is a not-for-profit health care provider, they have a program to forgive medical debt to those in need. If household income is below 300% of the federal poverty level and no substantial assets exist, then 100% of the medical bill will be forgiven. […]
What Pokemon Go can teach you about Asset Protection (Seriously)
Pretty much the whole world is going bonkers about the new Pokemon Go game, but for many players that signed up, they missed some pretty important stuff. Before they caught their first Pikachu, players were asked to review the terms of the contract. And they did the thing that a lot of people do when […]
What is a Chapter 7 Trustee?
When you file for Chapter 7 bankruptcy, a Chapter 7 trustee is appointed to administer your case. A trustee basically controls the assets that you owned at the time of bankruptcy. This control can involve anything from selling your house to selling your car or personal property. Essentially, the trustee’s job is to turn your […]
Alternatives to Bankruptcy
Consider These Alternatives to Bankruptcy for Different Situations The word “bankruptcy” has a lot of negative stigma attached to it, but usually is a reasonable solution for people with debt they can’t afford to pay off. However, it’s not always the best solution for every individual or business. Many factors go into the decision you […]
