In her January 3, 2009 article, The Case for Walking Away, Jane Bryant Quinn, Newsweek columnist and financial advisor, makes the same argument that many bankruptcy attorneys make: sometimes the best thing you can do is walk away from your house and your bills and get the fresh start that’s the purpose of the Bankruptcy [...]
January 2009
John Chiang, the chief financial official in California, has recently announced that California may not be able to pay billions of dollars in income tax refunds. It seems that the sunshine state is running out of money. Social service programs are going to take an immediate hit, as will student loans, tax refunds and other [...]
I ran across this quote, which could have been written about the mortgage industry in the last year: “… [W]e as a nation must undergo a radical revolution of values. We must rapidly begin the shift from a “thing-oriented” society to a “person-oriented” society. When machines and computers, profit motives and property rights, are considered [...]
Professor Douglas Baird, a bankruptcy law professor at the University of Chicago, asked Barack Obama to come to the Chicago law school and teach after he graduated from the Harvard University Law School. Baird solicited Obama for a teaching position when Omaba was still a student and president of the Harvard Law Review. Obama told [...]
All of us here at Bankruptcy Law Network file consumer bankruptcies, and we are all very excited by the prospect of the new bankruptcy law that will allow the modification of mortgages in Chapter 13. However, our excitement is fueled by the fact that it is the first real piece of legislation to help the [...]
Bankruptcy can help save homes from foreclosure in a few ways. Â Under the present laws, filing either a Chapter 7 or a Chapter 13 bankruptcy will stop a foreclosure, but you will have to cure the mortgage somehow. Chapter 7 is a temporary stop to the foreclosure, but might give you a short time to [...]
