Much has been written about what potential debtors should look for in a bankruptcy lawyer. Well, it is a two-way street and bankruptcy lawyers will also be sizing you up to determine if you will be a good bankruptcy client. Remember, both the lawyer and the client have the shared goals of getting you through [...]
June 2011
This week’s Forbes magazine contains an editorial by tax lawyer Steven J. Dunn entitled “Consumer Bankruptcies do More Harm than Good.” Mr. Dunn acknowledges that he is not a bankruptcy lawyer (although he knows a few bankruptcy lawyers – including his son, who once represented a bank in a lawsuit against the president of a [...]
Yes, you read it right. This is about giving creditors advice about reaffirmation agreements. It just might be a first here at Bankruptcy Law Network. But it’s occurred to me that creditors deserve some help from time to time. So why not? The reaffirmation provisions are hopelessly flawed Before 2005 reaffirmation was simple. The debtor [...]
So, you’re in a Chapter 7 bankruptcy and you want to know whether you should reaffirm your car loan. A reaffirmation agreement basically takes a secured loan, like a car loan, outside the effect of your bankruptcy discharge. As to that one debt, it’s like you never filed bankruptcy. You filed Chapter 7 bankruptcy in [...]
An article in this past week’s issue of the online publication Collection & Credit Risk raises the question of whether the spread of sub-prime loans in industries other than mortgages could prompt a replay of the Great Recession of 2009. According to credit bureau Experian, financing for new and used vehicles to borrowers with credit [...]
One of the hardest issues for a bankruptcy attorney to deal with is the issue of the Reaffirmation Agreement. When a person files a Chapter 7 bankruptcy he is given a rare opportunity: To start over fresh without his debts! This means that a debtor has the right to get rid of both his debts to unsecured creditors and secured [...]
