Kevin K. Kercher Law Offices

And fun was had by all...

TV ads regarding debt settlement with credit cards: here's the latest funny ad running on TV: (and I quote) Here's what credit card companies don't want you to know: If you have more than $10,000 in credit card, you have a right to have us help you negotiate with them. WRONG: Firstly, they make it sound like it's a law...there is no such law. Secondly, You ALWAYS can negotiate no matter what the amount...they just don't want to deal with you if you have under $10K in debt.

Youngest got married this weekend!!! Lots of fun was had by all.

https://www2.cortland.edu//81f485db-c9ad-421f-99af-e1d38f5 Check this out...mind blown. The Thought Police go to college...even though this article is a couple of years old, I'm sure it's more relevant that ever....

HOW WAS YOUR MORNING??? ANYTHING LIKE THIS...

S'MORE KNOWLEDGE Bankruptcy and credit scores: Chapter 7 is a credit score killer, no doubt. But, if you need a discharge of credit card, medical bill, personal loan debt and can ‘hunker down’ for a couple of years after your Bankruptcy, it is NOT beyond repair. We can give you some tips to repair your score post-bankruptcy if Chapter 7 is an option and your choice.... Chapter 13 cases are unique. They do require some sort of payment plan; however, rather than being dictated by your creditors or by the amount of your debt, as is the case with ‘debt settlement’ companies, the amount you will pay to your creditors will basically be the amount that you can AFFORD to pay, based on your current income and expenses. Also, and perhaps more importantly, the great majority of Chapter 13 cases result in an INCREASE in your credit score going forward. Most of my clients emerge from Chapter 13 with scores upwards of 660 with a few reported above 700...pretty good scores.

STUDENT LOAN STUFF.... I follow student loan issues as they relate to Bankruptcy proceedings very closely, both because I had my own experience with them and because my daughters have/had student loans to deal with as well. I am a member of NACBA (National Assocation of Consumer Bankrtupcy Attorneys), in fact pretty much a charter member. This group stays involved with issues involving all consumer bankruptcy issues such as unfair debt collection, overreaching or abuse by... lenders and possible relief through the Bankruptcy process. While there are no silver bullets to report, there has been some recent relief, or at least partial relief, provided by Bankruptcy judges, some of whom appear frustrated with the current state of the law and the lack of repair or attention by Congress. As examples, a recent decision from a really smart Philadelphia Bankruptcy Judge would limit the period of time that a debtor proposing to discharge a student loan has to address in challenging the discharge....for example, many courts have said that a student loan debtor must PROVE that they will be destitute forever and ever. This is NOT what the Bankruptcy Code actually says, and so the amount of evidence, or proof, of financial instability or financial inability may be a little easier. Even considering this judge’s opinion (which I think is correct), it is still an uphill battle, but the hill may no longer be quite as steep. Further, a recent opinion from a New Jersey Bankruptcy Judge granted a ‘partial’ discharge of some $220,000 in student loan debt for a woman working in public service. The ‘partial’ discharge is ALSO not in the language of the Bankruptcy Code....but as clever attorneys and frustrated judges have pointed out, it’s also not PROHIBITED by the Code, so......the woman wound up being required to pay back just a small portion of the debt. Remember that the Bankruptcy Code is an EQUITABLE way to solve debt problems....as a basic proposition, this means that an honest debtor will be treated fairly, and the debtor’s creditors should be treated fairly as well...if there is an ability to pay SOMETHING on the student loan, it should be paid. BUT, and this is a huge but, it also should not saddle something with irreversible debt, collecting interest at probably 8 or 9 percent, with additional collection costs which can be added at up to 20% of the balance....FOREVER. This is not fairness, it is ridiculous. Given the current state of the law, student loan collectors have absolutely NO incentive to negotiate with anyone...the debt is virtually NON-dischargeable, collects substantial interest, allows imposition of collection fees, allows wage garnishment and more... NACBA has recently proposed some changes to the Bankruptcy Code to change the way that student loans may be treated in Bankruptcy cases. We will continue to monitor those efforts and report any updates from time to time.

DROPPIN' SOME KNOWLEDGE ON STUDENT LOANS. I follow student loan issues as they relate to Bankruptcy issues very closely in the hope that even if Congress doesn't come to their senses, then maybe Bankruptcy Judges and Courts will do so. Notwithstanding the attempts of the current DOE (Dept of Education) 'czar', all is not lost because we DO have judges and courts of appeal that can temper the impact of czar-ist behavior. Because I practice in eastern Pennsylvania, and because you presumably LIVE in eastern Pennsylvania, we need to be attuned to what local judges and appellate courts are doing. Stay tuned for some updates on the state of the law with respect to DISCHARGE, not 'forgiveness' (which has significant negative tax consequences), of student loans.

WELCOME TO MY FACEBOOK PAGE....I'M GOING TO TRY TO POST AND DROP SOME KNOWLEDGE FROM TIME TO TIME...MESSAGE ME WITH COMMENTS/QUESTIONS OR VISIT WWW.KERCHERLAW.COM. I’ve been practicing law for quite a while (about 30 years, give or take) and have developed expertise in bankruptcy law, debt collection defense, student loan collection, commercial workouts and litigation. I’ve worked for banks, credit unions and consumers...mostly concentrating at this point on helping ordinary folks and small businesses work through their debt issues. I have a lovely wife and three wonderful daughters and live in Whitehall Township. I (still) play recreational volleyball, and enjoy college football of any sort.