May 11, 2008
- Debtor Audits to Start Again - What Does This Mean?
One of the least discussed changes brought about by the October, 2005 changes to the bankruptcy law was a provision that provides for "audits" of random cases. When a case is audited, it is selected at random by the United States trustee and the debtor and debtor's attorney are required to submit extensive documentary proof of information set out in the petition. (…)
April 26, 2008
- Bankruptcy Implications of a School Board's Loss of Accreditation
My colleague, attorney Scott Riddle, posted a very interesting observation in his Georgia Bankruptcy blog about the bankruptcy implications of Clayton County, Georgia's school accreditation fiasco. For those unaware of the situation, the Clayton County School System is about to become only the third school system within the past 20 years in the United States to lose its accreditation. (…)
April 21, 2008
- What do Bankruptcy Lawyers Do All Day Anyway
To my knowledge there has never been a television drama about bankruptcy lawyers (although there would certainly be a lot of possible story lines!). So, as a rule, most people do not know what bankruptcy lawyers do all day long.
Los Angeles bankruptcy lawyer Hale Antico answers this question accurately on his Los Angles Bankruptcy blog. Hale's experience, like mine, goes something like this:
Preparing an Objection to Proof of Claim for a Chapter 13 case where the pro se creditor thinks they should be a priority debt compared to a general unsecured non-priority claim. (…)
April 14, 2008
- Alternatives to Bankruptcy if Your Debt is Less than $20,000
On a fairly regular basis, I get calls from potential bankruptcy clients who don't really have enough debt to justify the time and expense of bankruptcy. For example, if your only debt is a delinquent $7,500 credit card bill, it hardly makes sense to spend $1,500 to $2,000 for a Chapter 7 case. Similarly, it makes no sense to spend $3,500 to $4,000 for a Chapter 13, especially if you would end up paying back 100% of the debt anyway. (…)
March 12, 2008
- Should I File for Bankruptcy - Widow on Social Security with $7,500 in Credit Card Debt to Same Bank Where She has a Checking Account
I am 65 years, a widow of 5 years, totally disabled, & my SS check is $1342.00 every 4 to 5 weeks. My SS check is auto deposited in my same bank that I have a $7,500.00 credit card debt owed. (…)
February 23, 2008
- What Happens if You Fail to Reveal in Your bankruptcy the Existence of a Civil Claim for Damages?
What happens if you forget to tell your bankruptcy lawyer about a pending lawsuit or even a pending claim? Nothing good - there is a very strong chance that the defendant can use your omission as a defense to your claim. (…)
February 21, 2008
- How Does My "Stimulus Package" Check Affect My Bankruptcy
I have received several emails over the past few weeks asking about the impact of the $600 to $1,200 check that many of us will receive in May as part of the Bush stimulus package. My colleague, Dana Wilkenson explains the impact in her post on the Bankruptcy Law Network blog:
If you are already in a bankruptcy, the tax rebate may have no affect on you at all. (…)
January 29, 2008
- Atlanta Business Chronicle Spotlights Soaring Bankruptcy Filing Rates in Atlanta Metro area
Last week's edition of the Atlanta Business Chronicle includes a series of articles entitled "Falling into Recession." One of these articles focuses on the high number of bankruptcy filings in the Atlanta area. Judge Joyce Bihary, the chief judge in for the Northern District of Georgia Bankruptcy Court is quoted extensively in this article. Judge Bihary asserts that the poor mortgage choices by homeowners has resulted in high default rates and record numbers of bankruptcy filings. The judge calls for improved financial literacy to help homeowners better understand mortgage products on the market and to avoid taking on more mortgage debt than they can afford. (…)
October 10, 2007
- Top Time Wasters in the Bankruptcy Process
If you have read my blog at all, you know that I have been quite critical of many of the changes brought about by the BAPCPA changes to the bankruptcy law. In general these changes have make the process of filing bankruptcy more complicated and more expensive. Sometimes, I have to decline representation in cases with complications because the potential client cannot afford to pay me for the time it would take to untangle his/her mess. (…)
September 23, 2007
- Let Bankruptcy Be Your First Step to a Positive Financial Future
I often advise my clients that if they are sitting my office discussing their financial problems with a bankruptcy lawyer, then everything needs to be on the table. The house, the cars, the big screen tv, the electronics, and even the time share (!). My job, as the bankrutpcy lawyer is to help my client chart a course of living within one's means and getting rid of debts that are not necessary for survival. Bankruptcy is about what you need, not what you want. (…)
September 18, 2007
- Can Unemployed Wife File an Individual Bankruptcy?
Can my wife file for BK on her own? She has about 80k in credit card debt. We are together on a couple of other credit cards and our house mortgage. What is the effect on me…if any? (…)
August 22, 2007
- Will Parents Be Responsible if Adult Daughter Incurs Medical Costs in Excess of Insurance Coverage?
Jonathan, our adult daughter has developed terrible spending and debt habits. (…)
April 25, 2007
- How Long Does a Lawyer Need to Prepare and File a Bankruptcy Petition?
I recentley contracted with a bankruptcy attorny on March 1st filled out all the info he needed to file by the 10th of March. How long should it take for him to file. (…)
March 7, 2007
- Social Security Benefit Checks are Exempt from Garnishment, but….
My husband has been given benefits but we are being advise a judgement will be placed for medical procedures that insurance should have covered but didn't. (…)
February 23, 2007
- Non-Bankruptcy Foreclosure Workouts - Does It Make Sense for You?
News reports on the Internet and in traditional media suggest that foreclosure rates are rising nationally, especially among sub-prime borrowers. At the same time, bankruptcy filings remain suppressed. The slide in bankruptcy filings has been attributed to widespread misinformation about the availability of bankruptcy under the BAPCPA law, or perhaps tighter restrictions on filing under BAPCPA . (…)
February 21, 2007
- Are There Tax Consequences if You Surrender Your Home in Bankruptcy?
I recently received an email from a very concerned Chapter 7 client who I represented in 2006. My client had suffered a fairly drastic reduction in his income and as part of his Chapter 7, he surrendered his home, which has a fair market value of approximately $650,000. There were no objections in this case, and my client received his discharge as a matter of course. (…)
February 20, 2007
- Can I Begin to Restore My Credit While I am in an Active Chapter 13?
I’ve filed a chapter 13 due to divorce (no previous credit issues) and am paying rightly on my repayment plan having several years to go. (…)
February 13, 2007
- Understand the Psychology of Debt Collection Tactics and Avoid Being Manipulated
My colleague, Boston bankruptcy attorney Nick Ortiz, has written a helpful post on his Massachusetts Bankruptcy and Consumer Protection blog summarizing your right to refuse to speak with a debt collector under the Fair Debt Collection Practices Act. (…)
February 12, 2007
- Red Flags of Debt and "Stop Buying Crap" - Good Advice from the Blogosphere
I ran across an interesting post called "How the Red Flags of Debt Can Save You" on a blog called the DebtFree blog. I think what is interesting here is that the author recognizes that most spending arises from emotional buying decisions - i.e. (…)
February 8, 2007
- Are Personal Debts Owed to Family or Friends Included in Bankruptcy?
I loan a family member a large sum of money a year ago. Now this family member is filing for bankruptcy and has ask for my name and address and the amount borrowed from me. (…)
