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Will Changes in Student Loan Laws Help Me? »

It is difficult to discharge student loans in bankruptcy.
The House of Representatives passed a bill changing student loan laws, but not their treatment in bankruptcy.
Not yet, anyway.
As it stands, the government subsidizes student loans made by private banks.
That is, private banks would not make student loans, the government, ever looking out for us, decided to [...]

Is Filing Bankruptcy a Sin? »

Chapter 7 bankruptcy discharges debts, wipes them out.  We have all been taught to pay our bills.  We are told it is wrong not to pay back what we have borrowed, used, spent, money that we promised to repay when we borrowed it.
This is the message of our culture, whether it was money to buy [...]

What Happens To My House If I File Bankruptcy? »

Who Needs Small Business Chapter 11? (Part Two) »

Chapter 11 small business part one discussed some of the reasons businesses lose money, and the start of the analysis business owners need to do before deciding if a small business Chapter 11 makes sense.
So, you figure out what it cost to run the business every month, then, you know how much you need to [...]

Who Needs Small Business Chapter 11? (Part One) »

Latest on the list:  Lenny “Nails” Dykstra.
What happens to cause a small business to file Chapter 11?
Evil partner, bookkeeper, employee leaves with the money.  Happens a lot.
For most of my clients, not starting with enough money.
I always say, you want to be the boss, start your own business?
Have enough to operate the business for a [...]

Bankruptcy Good for the Economy »

Sounds wrong, but studies show the easier it is to file bankruptcy, the more people will take risks to start a new business.
One of our favorite themes here at the bankruptcy law network, problems with the 2005 bankruptcy law changes James Surowiecki in the New Yorker.
The actual cause of the increase in bankruptcy filings used [...]

Judicial Mortgage Modification Deal in the House »

Blue Dog Democrats made their deal, and Chapter 13 mortgage cramdown legislation is one step closer.
Changes include having to provide your income, expenses and debts to the mortgage company while seeking modification, which must be done to be eligible for judicial modification of a first mortgage securing your residence.
The bankruptcy court would determine whether this [...]

Judges on Judicial Mortgage Modification Bill »

Judicial Mortgage Modification has cleared the House Judiciary Committee.
Bankruptcy Judges have sent a letter seeking more exact wording, so that they will know what Congress intended.
This is not an endorsement of the legislation, only some good questions about what exactly Congress means.
And who doesn’t have questions like that of Congress?
California bankruptcy attorney Cathy [...]

Judicial Mortgage Modification, Lobby Day in DC »

Urging Congress to enact judicial mortgage modification is what 140 members of the National Association of Consumer Bankruptcy Attorneys and I were doing in Washington DC yesterday. We answered all the banking industry arguments, such as  “fairness”.
So, the Chapter 13 bankruptcy reform would let the homeowner A, Mary, whose house is now worth 100,000, pay [...]

Chapter 13 Bankruptcy Reform Bill Testimony »

The House Judiciary Committee took testimony today on the pending Chapter 13 bankruptcy reform proposal.
National Association of Consumer Bankruptcy Attorney Board Member Mathew Mason was among those appearing.
The support of the BLN bloggers for this Chapter 13 bankruptcy reform has been longstanding and ongoing, witness these posts by Jacksonville Florida Bankruptcy Attorney Chip Parker and [...]