Houses and other property can be sold while someone is in bankruptcy, but there are specific rules that must be followed when you do it. As Brett Weiss said in his article Can I Sell My House While I’m In Bankruptcy?, you must get court approval before property is sold. Until [...]

Popularity: 26% [?]

There was a lot of hoopla about the reasoning behind the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. When it was first enacted, some thought that bankruptcy was going to be nearly impossible for consumers. And, at first, bankruptcy filings were slow as noted by my colleague and fellow blogger, Peter [...]

Popularity: 31% [?]

If people file for bankruptcy before the receipt of the stimulus rebates, they may be taken by the bankruptcy courts and used to pay a pennies on the dollar towards general unsecured debts like credit cards. For people filing for bankruptcy before the rebate checks are received, they may not have a choice [...]

Popularity: 27% [?]

For many years bankruptcy was seen as something that was used by either businessmen like Donald Trump or by people who didn’t have much income. This is no longer true as people in lower, middle, and the upper class are turning to bankruptcy lawyers for help.
My friend, colleague, and sometimes adversary, Rick Mitchell [...]

Popularity: 26% [?]

Congress could help homeowners in trouble, but once again has said a loud “NO” to help for homeowners in need. Today the Senate did not vote to support S.R. Bill 256 which could have helped so many families facing loss of their homes. Something has to be done to give some relief to [...]

Popularity: 41% [?]

The Washington Post headline reflects what business bankruptcy attorneys are telling me. Businesses are in trouble and many will be faced with difficult decisions about closing, selling or restructuring companies. This is just another reason that personal bankruptcies will also rise this year.
The public perception of individuals who file for bankruptcy [...]

Popularity: 55% [?]

The one thing I really want bankruptcy clients to do is to seek help from a bankruptcy lawyer as soon as they can.  Please! Stop me from repeating the following line: “I wish you had come to see me earlier because I could have saved you from doing ________.”
I certainly understand [...]

Popularity: 17% [?]

Congress is considering much needed help for homeowners by allowing court supervised modification of home mortgages in bankruptcy court, but the lenders are fighting to stop them. This legislation is important because it gives homeowners facing foreclosure a chance to save their homes by repaying the loans on more favorable terms.
The lenders win [...]

Popularity: 36% [?]

You can’t look at a newspaper or turn on a news program without seeing something about the mortgage crisis, yet no true help has been offered. Experts agree that bankruptcy courts provide a unique opportunity to have experienced judges oversee modifications of loans to help families in crisis and protect our economy.
I [...]

Popularity: 22% [?]

It’s tax time again, and for people considering filing for Chapter 7 bankruptcy it is time to start planning so you can keep your tax refund. A tax refund is your money, just like money in any bank account. When bankruptcy is filed, those funds due must be accounted for in your asset [...]

Popularity: 37% [?]