More and more, I’m seeing folks in my office after attempting debt workouts through debt settlement companies. Â Usually, the debt settlement companies that these people used were ones that advertise heavily on television and in other media. Â And usually, the potential clients have paid a lot of money to these debt settlement firms and gotten [...]
June 2009
You have decided to file bankruptcy and even taken the first step of finding competent counsel to help. Hopefully you have met with the attorney and he has given you some forms to fill out or told you what he needs to prepare the paperwork. You need to get him the information right away so [...]
Know the difference between ‘needs’ and ‘wants’. You want a flashy sports car, but you don’t need it. You need transportation to get back and forth to work, but you might not want that ugly Yugo. But a Yugo is all you can afford, so lay your eyes off that new Jaguar. It’s OK to [...]
You may listen online to the audio recordings of the Chrysler LLC, 09-50002, and General Motors Corporation, 09-50026, bankruptcy hearings in the U.S. Bankruptcy Court in the Southern District of New York. Available Online: Recordings of GM and Chrysler Bankruptcy Case Hearings The recordings are being made available online through through a pilot project of [...]
And the one they pick, is the one you’ll know by. (Crosby, Stills, Nash & Young, 1970) Children are part of the family and while they might not understand high finance, they are sensitive to the stress and strain that an out of control budget will bring on any family. You are not doing your children [...]
“Stealth” Plan Provisions: Confirmation of Chapter 13 Plan Did Not Alter Domestic Support Obligation
A Tennessee bankruptcy court recently ruled that confirmation by the court of a chapter 13 plan did not affect the debtor’s obligation to continue paying his ex-wife’s house payment. The chapter 13 plan did not specifically say that the ex-wife’s rights were being altered by the proposed plan, although the plan implicitly treated the ex-wife as [...]
