Being in Chapter 13 bankruptcy can be annoying. It’s like a bad wedding reception for your sister, you’d rather be anywhere but here…and you have to be here. But like your sister’s wedding, you should behave yourself and follow the rules. Every district in the country seems to have their own little local procedures for [...]
Wendell Sherk, Missouri Bankruptcy Attorney
It’s not unusual for folks to get loans from friends and family when they’re in financial trouble or facing bankruptcy. But it’s good to do the paperwork right sometimes. If mom is going to lend you money to buy a car, she should act like the Bank of Mother and take the time to do [...]
As pointed out in the first installment in this series, U.S. bankruptcy law comes from many sources. Although the statute itself is part of the federal U.S. Code, a significant element of bankruptcy is actually drawn from state laws. At the heart of bankruptcy are property rights. The right to be paid money — a [...]
Bankruptcy law in the United States is an amalgam of rules that comes from various sources sometimes with an exquisite harmony — like a fine orchestra — and sometimes with great disharmony — like an engine with a blown bearing. The variety of sources for the law makes it particularly complex to practice as a [...]
Borders, the national book store with actual stores, may have to file bankruptcy soon. Is that going to mean disaster for its customers? That’s very unlikely. Borders Group has hired bankruptcy lawyers. It is taking (even) longer to pay for inventory to conserve cash. This is a predictable dance by heavily leveraged retailers in a [...]
Christmas is usually a slow time for consumer bankruptcy lawyers. The phones go quiet, a few cards come in, a fruit cake from a grateful client now and then. It gives us a chance to pause and consider what we do and why. Consumer Advocates Are Often Pariahs As a bankruptcy lawyer, I run a [...]
