Own a Toyota? Are you filing bankruptcy or in a bankruptcy case already? You should talk to your lawyer about the Toyota recalls. You may have a claim against Toyota for defects in your product (or, worse, some physical injury you suffered). There are already class action lawsuits on file related to these issues that [...]
March 2010
A number of clients facing foreclosure have asked me whether I could use the “lost note defense” to help them save their homes. They’d read about how successful it had been in states like Ohio and Florida, and wondered about whether it could help them here in Maryland. Sadly, the answer is that normally it [...]
Home foreclosure numbers are growing despite (inadequate) government efforts to stem the tide. Due to falling prices and a floundering economy more homes are likely to be lost in the future. The Mortgage Forgiveness Debt Relief Act of 2007 provides some relief from possible tax liability associated with foreclosure. With this in mind, the [...]
For many people, the decision to file a personal bankruptcy case is deeply emotional. It’s not just a business decision. People think that filing bankruptcy is a personal reflection on themselves. All too many clients start to feel badly about themselves when considering bankruptcy. Financial distress sometimes leads to undesirable behavior. People may turn to [...]
Choosing the “correct” date upon which to file a chapter 7 or chapter 13 bankruptcy case can be important to either pass the means test, or to avoid having to take the means test altogether. Since the passage by Congress of the 2005 Bankruptcy Reform Act, debtors have been aware that the proper timing of the filing [...]
If your employer goes into bankruptcy, there are a couple ways it could hurt your defined contribution plan (like a 401(k)). One simple way is obvious: If you owned the company’s stock in your 401(k), there’s a good chance it’ll be valueless in the long run. It’s easy to accumulate employer stock if the employer [...]
