I recently got a phone call from a client. She got a letter from her mortgage company giving her the “opportunity” to reaffirm her mortgage. She wanted to know whether she should do this. I told her, “Absolutely not.” In the overwhelming majority of cases, it makes absolutely no sense to reaffirm a mortgage debt. [...]
May 2011
In spite of the fact that most of what you read about reaffirmation in bankruptcy is clearly negative, there are some times when I’ll gladly help my bankruptcy client through the process. Madness or good lawyering? You decide. Much has been written on this blog about reaffirmation in bankruptcy. BLN author Jed Berliner makes a [...]
I wanted to write something about what makes those who procrastinate file bankruptcy. First of all, procrastination and bankruptcy often go hand in hand. The unknown is scary and making a move during a period of insecurity is hard. Bankruptcy often feels optional at the beginning: maybe that loan modification, family help, or creditor concession [...]
You always have options if there are significant changes in your life during your Chapter 13. If you’ve been laid off, become sick, split up with your spouse or just can’t keep up with the rising price of gas, don’t give up hope. Your Chapter 13 is flexible…it can be modified to adjust to life’s [...]
The U.S. Court of Appeals, Sixth Circuit, recently ruled that an Ohio doctor could discharge her federal income taxes in chapter 7, based upon the government’s inability to prove that her failure to pay the income taxes was intentional. This case, Beneficial Mortgage Corp., et al. v. Storey, No. 09-3848 (6th Cir. May 16, 2011), involved the [...]
Planning is underway for the National Association of Consumer Bankruptcy Attorneys (NACBA) members only workshop on October 28 and 29, 2011, at the historical Broadmoor in Colorado Springs, CO, at the base of Pikes Peak.
