NOT So Simple Interest

Mortgage servicer’s accounting systems are typically unable to correctly calculate the proper application of funds once a debtor files for Chapter 13 Bankruptcy. Most are not willing to hire properly trained staff to make the correct calculation and are willing to “take the chance” the debtor/borrower will never question payment applications during the pendency of a chapter 13 bankruptcy.

Amber Waves of Debt

From Before It’s News, there is an article titled Its Chapter 66 As U.S. States Face De Facto Bankruptcy which describes how a number of U.S. states are facing bankruptcy – in fact if not in name – with Illinois and California leading the way. When an individual goes bankrupt in the United States, it’s usually a Chapter 7. When a …