Profile cover photo
Profile photo
Erich M. Fabricius
534 followers -
Need Help With Debt? Bankruptcy Relief, Bankruptcy Litigation & Debt Defense. Board Certified Specialist, Consumer Bankruptcy
Need Help With Debt? Bankruptcy Relief, Bankruptcy Litigation & Debt Defense. Board Certified Specialist, Consumer Bankruptcy

534 followers
About
Erich M. Fabricius's posts

Post has attachment
The means test can be a pain, but it doesn't matter when debts aren't primarily consumer debts. 

Post has attachment
Owning a small business doesn't mean you can't seek personal bankruptcy relief. It does mean you need to carefully consider how the business is going to be impacted by the bankruptcy filing.

Post has attachment
When a household budget includes a high-interest car loan, chapter 13 bankruptcy can be a surprisingly affordable way to obtain debt relief.

Post has shared content
This is a good perspective on student loan lawsuits, and even more true when in a state like NC that doesn't have general wage garnishment for judgments. 
If you are behind on private student loans, being sued may be the best thing to happen. And not just because I'm a "glass is half-full" kind of guy.

Here's why: http://www.consumerhelpcentral.com/student-loan-lawsuit-good-news/

Post has attachment
On this map, I compare 2013 bankruptcy filers per capita on a per-county basis. It's interesting to observe that some counties have a rate up to 7 times higher than those with the fewest filings, at least in respect to cases filed within the 3 judicial districts of North Carolina.

Post has shared content
An unfortunately typical story. 
Before she came to see me about #bankruptcy, Jennifer tried to settle her debts with #FreedomDebtRelief.  Freedom Debt Relief "settled" one of her accounts.  They settled her $26,094.61 credit union account for $26,094.61.  (That's right, they "settled" her account for exactly what she owed.  They did, to be fair, work out a payment plan.)

For that good work, they awarded themselves a fee of $5,479.87.

All that's in line with their contract.  Freedom Debt Relief gets a fee of 21%--not 21% of what they save you--21% of the total debt.  So if they reduce your $10,000 debt by one dollar, Freedom Debt Relief charges a fee of $2100.

All that is spelled out in their contract.  That's a rip-off, but all they promise is to settle some of your debts for something "less than you owe."  Knocking down a total debt of $50,000 to $49,999 means they've kept their promise--and earned $10,500 doing it.

Here's my promise.  For most people, filing bankruptcy is a better deal than Freedom Debt Relief.

Post has attachment
For a state that doesn't have wage garnishment, I see a surprising number of people who have a creditor from a past state with a garnishment threatened or pending. Getting money back from the garnishment is often a real option.

Post has attachment
An interesting post by Bob Lawless about Bitcoin. Most people thing of the question of what is currency as a national-level decision. But state law, such as the UCC defines important characteristics of how "money" moves in commerce. 

Post has attachment
Sometimes, I see a misconception that having an above average income means bankruptcy can't help with debts. Here, I discuss what affect being above median income has on bankruptcy options.

Post has attachment
I discuss the endgame for North Carolina judgments. When I meet with prospective clients wrestling with what to do about a judgment, I frequently talk about what will happen to that judgment in the long-term, and how that might influence their decisions today.
Wait while more posts are being loaded