Short home loan refinancing is not a new concept. Unfortunately, due to tightened credit for sub-prime borrowers, it has not been much of a factor in dealing with the current home foreclosure crisis. However, short refinancing may soon become a realistic option for even those homeowners with challenged credit. Despite possible tax consequences from debt [...]
November 2009
I am often asked how far someone needs to be behind on their bills before they can file for bankruptcy. A month? Three months? Charge off? Law suit? The short answer is that you don’t need to be behind at all before you can file. In fact, many of my clients are completely current on [...]
#2 What If My Spouse’s Assets Are Separate – Must They Be Disclosed? This continues the series “I’m Filing, My Spouse Isn’t-What Happens?” The series is introduced here. “Separate property” has a legal meaning, at least in a community property state such as New Mexico where I practice. It is basically property that is owned [...]
Unemployment benefits are protected from creditors and bankruptcy trustees in virtually all states. Recently the Missouri state courts emphasized a little-known protection of those assets, even after receipt. In some cases, a payment to a debtor is protected more broadly prior to payment than after. For example, Missouri protects at least 75% of a person’s [...]
If you want to avoid filing for a business bankruptcy, take tips from the airline industry. It seems to me that small businesses everywhere (and also large ones) can learn some lessons about what NOT to do by looking at what most of the major air carriers are doing. It is no surprise to me [...]
As a Jacksonville Florida bankruptcy lawyer, I’m totally immersed in the exploding foreclosure battle between Wall Street and Main Street. I hear and read countless stories of woe in these unprecedented times, but one recent story sums up the absurdity of our economy. Last week, The Wall Street Journal reported the ironic story of Domanico [...]
