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Gene Melchionne

Contributor |  In Managing Debt

Gene Melchionne is a member of the Board of Directors of the National Association of Consumer Bankruptcy Attorneys. While he maintains a bankruptcy practice in Connecticut, he also speaks nationally on bankruptcy law and consumer representation. Formerly an officer of a local credit bureau, he has testified before the Connecticut legislature and various courts on consumer credit issues.

Bankruptcy Could Help You Pay Your Student Loans… But at a Cost

Students

Bankruptcy Could Help You Pay Your Student Loans… But at a Cost

Bankruptcy Could Help You Pay Your Student Loans… But at a Cost

Many student loan borrowers, carrying an average of $30,000 in federal-guaranteed and private student loans, have a hard time finding the income in the midst of a weak economy to make the large payments after graduation. While Chapter 7 of the Bankruptcy Code allows for a hardship discharge of student loan debt, proof of that... Read More

5 Steps to Buying a Home After Bankruptcy

Mortgages

5 Steps to Buying a Home After Bankruptcy

5 Steps to Buying a Home After Bankruptcy

In the past decade, the American Dream of owning a home has become more like the American Nightmare. With more than 7 million homes foreclosed over the past eight years and unemployment hitting record levels, buying a house has been the last thing on people’s minds. To make matters worse, perhaps you have had to... Read More

I Found a Judgment on My Credit Report. Now What?

Managing Debt

I Found a Judgment on My Credit Report. Now What?

I Found a Judgment on My Credit Report. Now What?

Sometimes, the first time you find out you’ve had a judgment entered against you is when the judgment-holder seeks to enforce it. While due process is supposed to notify all parties to a court action ahead of time, there are many reasons why you may not have gotten that notice. You may have moved from... Read More

Can My Bank Take My Social Security Benefits to Pay My Credit Card Bill?

Managing Debt

Can My Bank Take My Social Security Benefits to Pay My Credit Card Bill?

Can My Bank Take My Social Security Benefits to Pay My Credit Card Bill?

If you owe on an old debt and receive Social Security payments, you may be wondering whether that money can be taken to pay for the outstanding debt. Generally speaking, Supplemental Security Income (SSI) is protected by federal law. It’s a welfare program to support those who cannot care for themselves. If your Social Security is... Read More

What to Do If Your Bank Doesn’t Pay Your Real Estate Taxes

Mortgages

What to Do If Your Bank Doesn’t Pay Your Real Estate Taxes

What to Do If Your Bank Doesn’t Pay Your Real Estate Taxes

A common feature of many mortgage loans is the escrow account. This is money held by your lender for the purpose of paying the periodic bills for real estate taxes and/or homeowners insurance. Unlike utilities or groceries, the bill for taxes or insurance come only a couple of times a year. Since these bills can... Read More

Can You Sue Your Debt Collector?

Managing Debt

Can You Sue Your Debt Collector?

Can You Sue Your Debt Collector?

Most people don’t realize that debt collectors can’t cross a line set by federal law. For example, they can’t threaten you with physical injury; claim to be a lawyer if they are not; harass you or use foul language; nor claim to have arrest powers. The list is extensive. The Federal Trade Commission has published... Read More

3 Reasons Your Bankruptcy Could Keep Dragging On

Managing Debt

3 Reasons Your Bankruptcy Could Keep Dragging On

3 Reasons Your Bankruptcy Could Keep Dragging On

So you’ve filed a bankruptcy and just received your discharge notice in the mail. That means your case is over, right? Not so fast. There are many things that can drag a case out long after the bankruptcy court issues the discharge of debts. 1. Some Debts Survive a Bankruptcy A discharge means that you... Read More

Is Your Foreclosure Really Behind You?

Mortgages

Is Your Foreclosure Really Behind You?

Is Your Foreclosure Really Behind You?

As Yogi Berra once said, “It ain’t over till it’s over.” Last year, the phenomena of “zombie deeds” came to light when it was discovered that homes vacated by their owners under the belief that they had been foreclosed really weren’t foreclosed at all and the owners still owned the house. Now the specter of... Read More

5 Things to Do After Bankruptcy

Managing Debt

5 Things to Do After Bankruptcy

5 Things to Do After Bankruptcy

So you filed for bankruptcy and received your discharge. Whether you have a Chapter 7 (a “simple” bankruptcy) or Chapter 13 (debt repayment plan) bankruptcy, it’s a good idea to make sure you do the following things once your case is finalized. 1. Collect & Preserve All Paperwork From Your Case You should have received... Read More

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