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Who Not To Add As A Friend on Facebook. »

In today’s Internet world social media is all the rage.  Facebook, Twitter, Linkedin, etc… are all sites where you can find old friends, colleagues, and your bankruptcy attorney, judge and/or trustee.  If you are in bankruptcy you might be excited to find your trustee, attorney and/or judge on Facebook and request that they be your [...]

Fix a Fraudulent Transfer Problem by Transferring it Back »

It’s a story which would make any bankruptcy lawyer cringe: “I deeded my cabin to my brother so I couldn’t lose it to my creditors.  My cousin’s girlfriend’s lawyer told me on the phone that would be a good move.”  Ouch!  As bankruptcy lawyers know, judgment creditors can reverse fraudulent transfers, negating the utility of this manuever.  Worse, [...]

Official Bankruptcy Secret »

Bankruptcy has an official secrets law and it is contained in §526 of the bankruptcy code.  A lawyer can not advise a client to take out a new loan before filing bankruptcy.  The Bankruptcy Abuse and Consumer Protection Act of 2005 includes this rule and I am going to break it legally.
Why would someone want [...]

What to Expect at Your §341 Meeting »

The §341 Meeting, also called the meeting of creditors, is a meeting that takes place around 20 to 40 days after your bankruptcy case is filed. At this meeting the case trustee assigned to your case, and any creditors who wish to attend, will be present. The case trustee will ask you a series of [...]

What does a Chapter 7 Flowchart Look Like? »

There are thousands of bankruptcy attorneys out there throughout the United States practicing bankruptcy law. While each may run his or her practice a little differently than the others, they are all still bound by the same federal laws found under Title 11 of the US Code.  Accordingly, each chapter 7 case is more or [...]

Thinking Of Filing Bankruptcy? Don’t Give Anything Away. »

Thinking Of Filing Bankruptcy? Don’t Give Anything Away.
“I’ll just give my car to my niece.”  I can’t tell you how many times I’ve heard that or something similar from a client about to file bankruptcy.
Sometimes the client has the best of intentions: “she’s about to graduate college and I always promised her a car for [...]

Bankruptcy and Security Clearances »

So what happens to your security clearance if you file for bankruptcy protection?  Is it revoked? Will you be terminated from your job?  Will you be demoted?  Does your salary decrease?
While there are bankruptcy code provisions that regulate the public and private sector over discriminations in employment when one files for bankruptcy protection, most employers [...]

Massachusetts Homestead Act Applies to Pre-Declaration Contracts »

Any reader of the Massachusetts Homestead Act must conclude that it only protects homes from contracts incurred after the declaration is recorded. This is not true in the bankruptcy context.
This reading was first confirmed by the Van Rye Massachusetts bankruptcy court decision in 1995. A different bankruptcy judge then ruled otherwise in the 1996 Boucher [...]

Beware of Refinancing and Bankruptcy »

Refinancing can be a fraudulent transfer in bankruptcy

How Does A Chapter 13 Bankruptcy Trustee Get Paid? »

A Chapter 13 is a bankruptcy reorganization for individuals–a payment plan, in other words.  The bankruptcy court appoints a trustee (there are standing trustees who serve that function in each district) and the trustee collects payments from debtors, and distributes that money to creditors. So, how does the Chapter 13 trustee get paid?
The Chapter 13 [...]