Attorney Melchionne Speaks at NACBA Convention


Attorney Melchionne was a featured speaker at the National Association of Consumer Bankruptcy Attorneys in San Francisco on May 20 - 22, 2016. During the Convention in, Attorney Melchionne met with colleagues from around the country to share ideas and new developments in Bankruptcy Law, Foreclosure Defense, Credit and Student Loan forgiveness. In his role on the Board of Directors for NACBa, he also helped plan the three days of seminars and spoke at several of the sessions.

Foreclosures in Connecticut buck the National Trend

The number of new foreclosures filed in Connecticut increased in November increased over the number of foreclosures field in October. Not only does this buck the national trends, but it also runs contrary to the usual fall off that occurs as winter approaches.

Banks do not like to take homes in the winter months if they are occupied. They would rather let you shovel the snow, heat the house, and secured the house so that it is not vandalized. It does seem, however, that banks are in a rush to take back homes faster than before. Or maybe they realize that just filing a foreclosure does not guarantee a quick result as the Mediation process does slow things down a bit. Since Mediation can add a few months onto the foreclosure process, timing the filing of the foreclosure so that mediation completes in the spring might be the reason for these filings.

Me. I'm speechless. Even FannieMar and FreddieMac have a heart in not putting anyone out of their home during the holiday season. They have
suspended evictions from December 18, 2015 to January 3, 2016. On one hand, I hope that this increased foreclosures is not the banks being heartless during the holidays. On the other hand, I also hope that this is not an indication that homeowners in Connecticut are not falling further into financial distress.

Check out my interview in the newspaper

Bankruptcy Filers Beware: Con-Artists Posing As Attorneys

Telephone-Scam Soliciting Wire Transfers Prompts NACBA and Vermont Attorney General to Issue Consumer Warning

Across the country, consumers are falling prey to a new scam targeting people who have filed for bankruptcy and others just getting started with the process. Bankruptcy attorneys are joining forces with public officials to sound the alarm bell to unsuspecting consumers.

The con artists are using software that 'spoofs' the Caller ID system so that the call appears to be originating from the phone line of the consumer’s bankruptcy attorney. Victims of the scam are being instructed to immediately wire money to satisfy a debt that supposedly is outside the bankruptcy proceeding. Some consumers have been threatened with arrest if they fail to wire money to pay the debt.

In some instances, the perpetrators are using personal information from public filings to identify consumers, assume the identity of their attorneys and sound more convincing by phone. These calls are typically placed during nonbusiness hours, making it difficult for clients to verify the call by getting in touch with their attorney to ask about it.

National Association of Consumer Bankruptcy Attorneys (NACBA) and its individual members want consumers to know that under no circumstance would a bankruptcy attorney or staff member telephone a client and ask for a wire transfer immediately to satisfy a debt. Nor would the bankruptcy attorney and staff ever threaten arrest if a debt isn’t paid. The United States Court System has posted a bulletin and warnings have been posted in the states of Virginia and Vermont as well.

Consumers should be advised that legitimate debt collectors and agencies cannot threaten arrest in order to satisfy. If you or a family member receive this kind of call, the best thing to do is to hang up and contact your bankruptcy attorney as soon as possible. Do NOT give out any personal or financial account information to the caller.

My office will never call after hours and you should always verify any such instruction by emailing me directly if you should receive such a call.

How Long Does Bad Credit Stay on My Credit Report?

This is a question that comes up regularly in my office and it recently turned up on If you are bad with paying your debts on time, that history stays on your credit report for a full seven years. So Gerri Detweiler asked me that question.

Why seven years? It turns out that there is no particular reason other than a compromise between the Senate and the House when the Fair Credit Reporting Act was being drafted was back in the late 1960’s. It has nothing to do with the Bible or the Statute of Limitations for collection of a debt. It was just an arbitrary time period picked by elected representatives as a “reasonable” time.

Is it reasonable? The answer is that your history is in the past. If you do things to manage your debt better now and pay everything onetime, most lenders will take that into consideration. While no one knows exactly what does into your credit score, time has to be a factor.

Can a Debt Collector Grab My Bank Accounts?

Recently, Gene Melchionne was interviewed by writers for on the question of seizure of bank accounts. The interview was later picked up by MSN Money and Yahoo Finance because of the importance of the question.

When collecting delinquent accounts, collectors will many times claim to be able to seize bank accounts for the payment of the debt. It’s not so easy. But it is possible. In most cases, you need to be sued first, unless the bank account is with the same institution where the money owed. Read the article on for more.