Two spouses file one bankruptcy case. They get one trustee, one case number, one meeting of creditors, etc. But they are still two separate people with two separate bankruptcy estates. Here’s why it’s important. If someone dies within six months after a bankruptcy is filed, the inheritance is property of the bankruptcy estate. However, that [...]
May 2009
In this era of corporate bailouts, it makes you wonder how many individual bailouts are happening, and, more importantly, is it the right thing to do? Three times in the past week, a client has called to request that we close the file because they no longer have to file for bankruptcy. While I love [...]
Do you remember that saying, “Never a lender nor a borrower be”? It is sound advice founded on personal experience. It is amazing how often family or friends will go the extra mile to lend to each other. It is good to support your family or friends, but nothing ruins a relationship faster than a [...]
A Massachusetts Chapter 13 debtor has been able to remove (“cancel” or “rescind”) a second or refinancing mortgage, without having to pay the full principal balance, if there was a serious defect in the closing papers. See Cancel That Mortgage: Why Bankruptcy and Remove That Mortgage !! A recent intermediary appellate decision just changed that [...]
Unfair and deceptive collection practices has become a concern of NYS Attorney General Andrew Cuomo. Cuomo has said he wants to halt harassing phone calls, frivolous lawsuit threats from collectors, and other practices which violate the law. His office has shut down one debt collection firm and has expanded a probe into twenty others. According to Adrienne Carter [...]
Over a year ago, I blogged on the lawsuit between Lifelock and Experian. Well, Lifelock is still in business and so is Experian. Both companies are making money, and both companies are still fighting in Court. Why? The bottom line is millions of dollars in profits. Whose profits? Both companies. After the lawsuit was filed, [...]
