Absolutely not! The Bankruptcy Code has no provision within it that will rewrite or re-negotiate the terms of your mortgage. As a result of the sub-prime loans and all the adjustable rate mortgages, some people hope to jump into the Bankruptcy Court in order to re-negotiate a mortgage. This will not work; however, [...]

Unfortunately when married couples divorce, many issues arise. Divorce attorneys and bankruptcy attorneys know this all too well. Routinely, the couple’s finances are inextricably intertwined and neither has the ability to buy the other out. That means some joint obligations will fall into the hands of only one person.
Credit issues are normally [...]

Earlier I wrote here about a North Carolina decision on the provision of the 2005 amendments to the bankruptcy code: Judge Small held that inclusion in a car loan of the unpaid balance on a trade in destroyed the purchase money nature of the loan, and thus permitted the debtor to strip the claim [...]

Katie Porter at Credit Slips writes about a potential pitfall of the credit counseling requirement imposed under BAPCPA.  While many credit counselors are consumer oriented, there are those who push plans funded by the credit card industry.  That became clear when Professor Porter reviewed a plan prpared by an agency described by a consumer debtor [...]

One frequent topic of discussion with my clients is the way bankruptcy will affect their tax refunds. Some clients assume that all future refunds will somehow be set off against what they owe; others assume that the government will keep it for some period of time. I want to make sure that clients [...]

Northwest airlines emerged from bankruptcy protection yesterday as a leaner company which is better able to compete in a tough industry.  What can we learn from Northwest Airlines?  We know that businesses use Chapter 11 all the time to dig out of bad business deals.  How does this compare to consumers?  If you think about [...]

The bankruptcy discharge is the goal in any consumer bankruptcy case. In my opinion, protecting and upholding the discharge is the debtor’s and their attorney’s ultimate duty. When a Creditor, and their attorneys, take actions which violate the discharge, they display a lack of respect for the entire bankruptcy process, the Judge who [...]

Recently, an insider at Equifax, one of the three main credit reporting agencies, stated that consumers may not realize the impact of having a Bankruptcy on your credit report.  This insider is Neil Munroe, and he is the external affairs director at Equifax.  As a  board certified consumer bankruptcy attorney who has sued more than [...]