A short sale (described by Illinois consumer attorney David Leibowitz) allows you to sell your home for less than you owe on it. Sounds great, but there may be tax consequences of a short sale. Most short sales involve two or more mortgages, though any home sold for less than what is owed is, by [...]
May 2009
When you file for bankruptcy in the Western District of Missouri you must maintain certain insurance coverage on your vehicle if you have a lien on your vehicle. Local Rule 4070-1 D(4) of the Western District of Missouri states that the debtor must maintain 3 months of pre-paid insurance on the vehicle and have a deductible no [...]
Fees and costs of bankruptcy have skyrocketed, forcing debtors to seek Chapter 13 just to afford access to the bankruptcy courthouse doors. The 2005 reforms have so increased the complexities and burdens of filing for bankruptcy protections that professional fees have increased about 50% and costs have doubled. What used to be barely affordable for [...]
As we all know, last week we saw another Government sell out.  The most important part of President Obama’s Homeowner Affordability and Stability Plan  (HASP) was voted down by our wonderful Senators in Washington, D.C.  The Durbin amendment would have allowed Bankruptcy Judges to cramdown first mortgages and interest rates on many homeowners primary residences [...]
Rachel Lynn Foley, my esteemed colleague in Missouri, wrote today on “How Not To Be Selected As A Client” from her perspective as a bankruptcy attorney. I also wrote a blog this past week on ”My Bankruptcy Attorney Doesn’t Return My Phone Calls, “ explaining that sometimes attorneys prioritize the calls back to clients or wait for [...]
There are several ways to ensure that I will not represent you as a bankruptcy client. Keep in mind that when you have a consultation with a bankruptcy attorney the interview is a two way street. You are determining if you want me to represent you in the bankruptcy process. At the same time I [...]
