The prospect of a consumer protection agency being debated in Congress that protects consumers from predatory lending practices is a very welcome development in my view and experience. The world of finance has because more and more complex and the public has understandably not kept up with these developments. As long as one believes that the government should protect citizens health and wealth as it does by funding police, ...

Declaring Bankruptcy

The phrase “declaring bankruptcy” has been with us a long time, but what does it really mean? If you start a voluntary case, which is over 99% of all cases, you are simply telling your creditors you cannot repay your debts because you are in an insolvent state. ...

Believe it or not, laughter is not uncommonly heard in my consultation conference room. We care deeply about the issues around debt and money, and it touches us down to our unconscious where our funny bone lies. Yes, tears are shed in that room too, but laughter is much more common, ...

Nationally, almost a quarter of all homes with mortgages are “underwater” now. I’m talking figuratively, of course, as this is California, not New Orleans. Any home which is worth less than the mortgages against it is “underwater” in financial terms. However, most of these “distressed mortgages,” as they are sometimes called, ...