I don’t mean to alarm you, but the folks at Bankruptcy Bill have organized what appears to be the first ever Bankruptcy Song Contest.
So whether you’re a debtor, a creditor, a bankruptcy lawyer or a “Bankruptcy Lover,” here’s your chance to express yourself through song.  The winner will be selected [...]

In a move that shocked and amazed the South Carolina bankruptcy community, attorney Dennis Toney of Charleston scored a big victory for his clients by successfully challenging the application of the 910-day rule.  Toney’s keen analysis has led some to question whether Toney is part Vulcan, or 100% human as previously thought.  An investigation is [...]

(This cartoon is posted on with the express permission of the creators of BAPCPA Man.)

When I think of Steven Horowitz and Gideon Kendall, I can’t help but think of the Reese’s Peanut Butter Cup.  What a perfect combination.
Horowitz, a New York City bankruptcy lawyer, and Kendall, a professional illustrator and fellow New Yorker, met years ago [...]

Lawyers have a saying about trying a case: Put the skunk on the table.  It means if you’ve got something really bad going on in your case, it’s best to just deal with it.  Tell the judge or jury before the other side does so you can minimize the damage.
It’s really no different with [...]

Unless you’ve been living under a rock, you know that foreclosures are at record levels. That’s true all over, but it’s even more of a problem for folks in Michigan. Caught between the real estate meltdown and increasing globalization of manufacturing, things haven’t been this bad since the Great Depression. Unemployment is at almost 15%, [...]

Drunk from the billions in federal bailout milk, Bank of America decided to raise Red Bluff, California resident Ann Minch’s credit card interest rate to over 23%.  Bank of America’s move was both bizarre and self-destructive.
Bizarre because Minch, though recently laid off, had continued to make the required payments to the bank, at times even [...]

Most of the time, there is no reason to file a Chapter 7 bankruptcy for a corporation or limited liability company.  (We’ll call them both “companies” in this post).  However, there are some instances where filing Chapter 7 for the company makes good sense.
Normally, bankruptcy is about one thing: the bankruptcy discharge order.  The order states, [...]

Attempting to be your own bankruptcy attorney is a very bad idea that almost always has disastrous results.  This is true for both Chapter 7 and Chapter 13  bankruptcy cases.
I was at bankruptcy hearings this week, and I watched a hearing in which the debtors, a husband and wife, had filed their case without [...]

If you’re planning on filing bankruptcy, you need to weigh all your options before you decide whether you should keep your house, especially if it is a house you can’t afford or one in which you have no equity. While this decision is somewhat different based on whether you will be filing under Chapter 7 [...]

The new bankruptcy law, BAPCPA (”Bankruptcy Abuse Prevention and Consumer Protection Act”) requires that a debtor’s assets must be valued at “replacement cost.”  In fact, if you meet with your attorney, he will give you a notice required by section 527(c) of the Bankruptcy Code, which probably explains valuation similar to this section from the [...]