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Foreclosure Prevention – Escrow What is an escrow account? An escrow account is a savings account that is managed by your loan servicer. Each month, your loan servicer deposits a portion of your mortgage payment into your escrow account to cover your estimated property taxes and your homeowners and mortgage insurance premiums — all of which are billed annually. What is…
Debt Collectors Have you ever received a letter from a company you’ve never heard of, demanding payment for an old medical or utility bill? Or a scary letter listing a debt owed to a company you’ve never heard of like Midland Funding, LLC or Portfolio Recovery Associates? When you are unable to maintain payments on a bill, it often gets…
Most Common Bankruptcies A lot of people I speak to tell me all the time that bankruptcy is not for them. This is often due to the numerous misconceptions about bankruptcy that you hear about, on tv, from your family, or on social media. Media and your friends may tell you that bankruptcy will ruin your credit or make it…
Benefits of Chapter 13 Bankruptcy There are numerous benefits to filing chapter 13 bankruptcy. Every situation is different, and there may be positive consequences to filing that you’re not aware of. One of the most helpful benefits is that, in some cases, a Chapter 13 order can discharge a second mortgage on your home. This is called a “strip off.” Whether…
Why do people file Chapter 13 Bankruptcy? Most people file a chapter 13 to obtain bankruptcy court permission to get more time to catch up on past due payments that are owed to the lender of their home mortgage. Some people also use a chapter 13 bankruptcy to catch up on past due payments owed to their bank or finance company for…
Will I Lose My Stuff in a Bankruptcy Case? Many of the people who call our office say they want to avoid bankruptcy because they don’t want to lose their belongings. The reality is, in nearly all cases you won’t lose any assets in a bankruptcy filing. In both of the two main consumer bankruptcy chapters, 13 and 7, you will…
2022 Top Bankruptcy Lawyers List by Boston Magazine Boston Magazine has announced their list of 2022 Top Lawyers, including Cynthia Ravosa, of Ravosa Law Offices, and Maegan Hurley of Ravosa Law Offices, PC & the non-profit MDRF, under the Bankruptcy & Workout Specialty. Check out the list here. If you are considering a bankruptcy or have questions about how to overcome…
How Will I know my Chapter 7 Bankruptcy is Approved? If you have filed a Chapter 7 Bankruptcy, the typical amount of time it takes from beginning to end is about 4 months. However, before your case is even filed, your lawyer will have a good idea if your case will be successful and will share that information with you. About…
Elderly & Living with Debt Debt issues affect the elderly just like they affect people of any age. However, the elderly are generally more resistant to filing bankruptcy because of a moral obligation to “pay your bills.” While admirable, this thinking can lead to disastrous consequences if an elderly person’s utilities are shut off as a result of non-payment or worse…
When Will I See the Judge in my Bankruptcy Case? Probably never! Filing bankruptcy is mainly an administrative proceeding with no judge or courtroom involvement in the vast majority of Chapter 7 cases. In Chapter 13 cases there may be some hearings before a Judge in your case, but for most of these proceedings only your attorney is required to attend.…