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Sean Sullivan Hanley

Sean Hanley’s Legal Guides

25 total

  • Statute of Limitations on Debt Collection

    Recent case law has held that aside from the debtor's right to file forBankruptcyand the protections afforded to debtors under FDCPA, the reach of creditors seeking to recover a debt extends for a limited prescribed time frame. This time frame is set by a state's statute of limi...

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  • "FORGIVENESS OF DEBT" TAX EXCEPTIONS: BANKRUPTCY, INSOLVENCY, PRINCIPAL RESIDENCE

    The IRS taxes individuals on "relieved" or "forgiven" debts. Forgiven debts are debts in which the creditor agrees to take nothing or less than the full balance owed, or debts that the creditor has written off ("charged off"), declared as uncollectible, and reported as a tax los...

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  • SHORT SALE (SENATE BILL 458): LAW AGAINST SHORT SALE DEFICIENCIES EXPANDED

    Senate Bill 931 First Trust Deed Lender Prohibited from Deficiency against Short Sale Borrower Senate Bill 931 (effective January 1, 2011) provides that a sellers first trust deed lender cannot obtain a deficiency judgment against a seller after a short sale. Providing written ...

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  • Pitfalls and Options for Investors of Foreclosed Property

    Some American real property investors have found that one way to profit in the real estate market that is currently in a historically unprecedented downturn with no end in sight is to purchase relatively cheap foreclosed property and quickly re-sell it for a profit. While some re...

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  • MORTGAGE WORKOUT CRISIS - Issues and Impact

    Are you behind on mortgage payments and want to save your home, but you're not sure how? Many people are turning toBankruptcyto save their homes. Many more are losing their homes because they are afraid of the implications of filing for bankruptcy, or simply are unaware of the ot...

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  • BANKRUPTCY: Case Example - "Residency" Requirements Impact Outcome of Debtor's Case

    Case Example - Outcome and benefits received by bankruptcy debtor differ depending on what state the debtor files bankruptcy in and whether debtor has option to use federal exemption system: Benny Bankruptcy lives in Providence, Rhode Island, from July 1, 2006 to January 1, 2008...

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  • BANKRUPTCY: New "Residency" Requirements

    Some prospectiveBankruptcydebtors moved locals in response to theBankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCA), which codified several new substantive and procedural rules that makes it more difficult for some would-be debtors to file for Chapter 7 Bank...

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  • BANKRUPTCY - PROTECTING THE HOME

    Millions of Americans are turning toBankruptcyto save their homes fromForeclosure. There are a multitude of reasons why people are facing foreclosure - some people bought homes with ARM (Adjustable Rate Mortgages) that, when entered into, seemed financially feasible, yet became ...

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  • You've inherited property, now what?

    Learn what you need to do if you've inherited property, such as a house or a piece of land.

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  • PET TRUSTS: Enforcement and Other Issues

    The phrase "a dog is a man's best friend" runs true for millions of Americans - we love our pets, like they love us, unconditionally. Unlike some humans, pets never lie, abuse our affection, or mistreat us, which is why countless Americans have left millions of dollars in trusts...

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