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Asset Forfeiture Archives

Homeowners who were trying to avoid foreclosure were ill-served

According to the Consumer Financial Protection Bureau (CFPB,) a company that promised to assist homeowners who were at risk of losing their homes failed to meet that obligation. An investigation into the matter found numerous violations of loan servicing regulations, and resulted in a fine of more than $1 million. The move should serve as a cautionary tale for Washington homeowners who are facing serious financial strain, and looking for ways to avoid losing their home to foreclosure.

Refinancing could help reconfigure mortgage debt

Owning a home has long been known as the ultimate American dream, and is a goal to which many people still aspire. However, when circumstances shift, many Washington residents find that retaining their home is a challenge. Faced with mounting bills and decreased income, mortgage debt is a stressor that can begin to feel overwhelming. Fortunately, there are ways to overcome crushing levels of debt, including refinancing a home loan.

Foreclosure scam results in prison sentence

For those in Washington who are at risk of losing their home due to financial struggles, the level of daily stress is difficult to quantify. Fear of home foreclosure is about more than simply adding another debt to the growing pile; there is the very real sense of losing the place that represents peace, security and stability. That is why so many people will go to great lengths to avoid foreclosure.

Social media complicates consumer bankruptcy cases

Most Washington residents are aware that the picture perfect image that many people display on Facebook is far from reality. Lots of social media users create a carefully curated glimpse into their lives, intended to give a distinct impression. In some cases, that impression is intended to convey wealth, even after an individual has filed for consumer bankruptcy. That can create problems for the professionals who manage bankruptcy cases.

Stop creditor harassment and handle debt by filing for bankruptcy

Consumers with considerable amounts of debt often feel a great deal of guilt and shame regardless of how they accumulated the debt. While these are both difficult with which to deal with, perhaps one of the worst aspects of falling behind on payments is what lies on the other end of a phone line. For many Washington debtors, finding a solution to stop creditor harassment is just as important as handling their actual debt.

Student loans can lead to additional consumer debt

A quick perusal of virtually any news site will reveal something that most Washington residents are already intimately familiar with -- the student loan crisis is still growing. With many jobs requiring a secondary education, students often have no choice but to take out loans in order to address the soaring costs of a college education. These loans have a significant impact on debtors and even lead to other forms of consumer debt.

Many assets exempt from forfeiture during consumer bankruptcy

Being unable to repay debt while creditors are constantly calling can cause serious emotional turmoil for consumers, but for some, the possible solution can be similarly distressing. When it becomes otherwise necessary to file for consumer bankruptcy in Washington, it is common to have serious concerns regarding personal property. One of the biggest fears consumers face when seeking bankruptcy protection is the loss of their most important assets.

New rules could stop creditor harassment

Debt collectors act as primary components in creditors plans for recouping debt, but their tactics are usually far from docile. Now, the Consumer Financial Protection Bureau is trying to stop creditor harassment. If the CFPB has its way, Washington debtors might no longer have to fear the ringing of their phone while weighing the possible benefits of consumer bankruptcy.

Are these consumer bankruptcy myths stopping you from filing?

Give up everything an individual owns, or continue facing daily harassment for insurmountable debt -- this is sadly how many people view the decision process leading up to bankruptcy. Forking over every last asset, ruining any stable financial future and total debt elimination are pervasive myths that continue to circulate among debtors. Clearing away fact from fiction can help Washington individuals make better-informed decisions regarding consumer bankruptcy.

Is Chapter 13 a suitable way to stop foreclosure?

Washington homeowners who face difficult financial circumstances might have been unable to maintain their mortgage payments. As soon as three installments have gone unpaid, lenders may start taking action, and homeowners may be under the impression that there are no remedies that would stop foreclosure. However, foreclosure can be prevented by filing for Chapter 13 bankruptcy.