Small business owners feel as though they and their business are one. Before we can assess whether a bankruptcy filing is advisable for the owners or the business, we have to separate the business from those who operate the business . When the business is a sole proprietorship, the owner’s feeling is also legally correct. [...]
August 2009
A federal judge refused to let a lawsuit against Countrywide Financial Corporation be transferred to federal court today. Two investors in mortgage-backed securities sued Countrywide over plans to make up to $8.4 billion in loan modifications as part of a settlement with 15 state attorneys general. They argued most of the loans at issue aren’t [...]
Gathering records is an important part of preparing for a bankruptcy consultation. Your lawyer will rely on these records to determine if you qualify for bankruptcy relief. Here is a common list of documents, I ask my Rhode Island clients to bring to a bankruptcy consultation. Federal Tax returns for the last two (2) years; [...]
This past November, I reported about a high profile bankruptcy case filed in the Northern District of Georgia, just outside Atlanta. State School Superintendent Kathy Cox and her husband, a homebuilder, filed for Chapter 7 bankruptcy. According to news reports the filing was triggered by over $3.5 million in losses incurred by John Cox’ failed [...]
Information is important so it is best to see the bankruptcy lawyer as soon as possible. Seeing the bankruptcy lawyer doesn’t mean you are going to file bankruptcy. It is however going to get you information. The more information you have, the better decision you can make.
“How do you get paid?” is the question I’m asked most often at parties. After all, they say, if your clients don’t have any money, how can they pay you? The answer depends on the details of a particular client’s case, but there are several ways I usually get paid. 1. You may have savings [...]
