A client told me yesterday he had been researching on the internet over the weekend and had learned that “judgments cannot be discharged”, and so “why is it worth doing a bankruptcy?” He was concerned because a big part of his problem is liens placed on his house and he wants to sell it and [...]
August 2011
Chapter 13 bankruptcy is usually a good fix for someone behind on their mortgage if a loan modification outside of bankruptcy is not possible and foreclosure is looming. However, there are times when a Chapter 13 will not work. I will mention three of these and then say a few additional words about the last. [...]
Don’t take money out of your retirement account to ease a temporary economic crunch. Difficult times come and go; and sometimes they seem insurmountable. When that happens, it might appear wise to tap into the 401k or the IRA and borrow or take some of the funds. Don’t do it! I see bankruptcy clients every [...]
The Bankruptcy Law Network was created to furnish timely analysis of bankruptcy procedure, bankruptcy case law and bankruptcy tips of the trade for the seasoned and newbie bankruptcy practitioner. When we started the BLN, we were a bunch of hungry bankruptcy attorneys who were on a mission to spread great information to everyone and anyone [...]
Today, I’m going to stand on the shoulders of my colleague Kent Anderson and add to his post on Objecting to Credit Card Claims in Bankruptcy. You want to do this as a Chapter 13 debtor when you are above median or have unprotected assets. In either situation, you want to kick out as many claims [...]
The U.S. economy needs a stimulus. Many American households would be better served by filing bankruptcy to free-up some income to support their family, rather than waiting for Congress or the banks to help move us forward. It doesn’t sound right, does it? You file bankruptcy to help the economy? But right now, President Obama [...]
