As a consumer bankruptcy attorney, I am often asked: Why does it seem that in the United States Corporate Bankruptcy is deemed a good business decision and Personal Bankruptcy is deemed to be an Individual failure. My response is simple: ”Nothing can be further from the truth.” Because I am in this business, I see [...]
February 2010
As a mortgage foreclosure defense attorney, it really burns me up that homeowners are once again getting the short end of the stick. There is a double standard going on in this real estate meltdown. Lenders are telling homeowners that they have a “moral obligation” to pay their mortgages, and the failure to do so [...]
Credit counseling is a requirement that must be fulfilled before an individual debtor is permitted to file a bankruptcy. The statute, passed by Congress in 2005 and made a part of the bankruptcy code as 11 USC §109(h)(1), reads in relevant part as follows: …an individual may not be a debtor under this title unless [...]
People frequently ask, “how do I file bankruptcy”? It’s easy to file a bankruptcy case. Lots of people do it themselves. It’s hard to do it right, however. Even some lawyers get it wrong. Before you can even think about filing bankruptcy, you have to take credit counseling from a credit counselor approved by the [...]
There have been a number of recent news reports about people choosing to “walk away” from their under water homes. One recent example is this CNN story. Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at [...]
