Archive for November, 2009

Loan Modification Fees Cannot be Paid in Advance in California

November 29, 2009

The most recent legislative enactment in California designed to stem the rising tide of fraud in loan modifications may have been an over reaction.   There has been a prohibition on attorneys charging fees in advance.  How are borrowers supposed to get the help they need to extract performance from obstinate lenders?
See new Page entitled “Loan Modification Suggestions” for more information.

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Early Planning Guides for Loan Modification and Bankruptcy

November 15, 2009

What you should know during loan modification and before you file for bankruptcy – follow these steps:

(1)  Collect your financial information.  What is your income and expense?  What are your assets and liabilities?

(2)  Consider the alternatives.  Get a free attorney consultation (widely available).  If you’re a homeowner, determine whether loan modification is feasible, or whether other measures are necessary.

(3)  If bankrtupcy is the only choice, familiarize yourself with the various types.  Chapter 7 to eliminate debts, Chapter 13 to pay all or part of your debts over time (often used to enable you to keep your home) and when Chapter 11 is required.

(4)  Develop a plan with an event timeline.

Avoid Bankruptcy – Prepare Ahead of Time

November 15, 2009

Are you struggling through financial problems and no comprehensive plan of action to deal with them?  With the recession dragging on and unemployment persistently growing, large numbers of people are reacting to financial predicaments as they arise, with short term solutions.  Loan modification proceedings can become a major diversion that ultimately fails to fully resolve a steadily deteriorating situation.  The most effective moves to avoid bankruptcy must often be made six months to a year before reaching a crisis, and/or during the loan modification period.  You are welcome to post a comment or go to the Interactive Law Center and receive an early consultation.  Also see our Pages entitled “Bankruptcy Checklist” and “Special Capabilities Required of Attorneys for Bankrtupcy Work”.

Suffering Job Stress in California?

November 2, 2009

The work place is an environment where major potential exists for stress to develop.  Fortunately,  in California the employee does have a right to file a workers’ compensation claim for psychiatric injury, subject to special limitations described in the article on this blog entitled “California Job Stress”

If you feel like you’re getting squeezed out of your job, feel free to comment, or contact us via our web site –  the Interactive Law Center.  The section dedicated to the California workers’ compensation is found under “Legal Services”.