It is just a fact that the over one trillion (uh, yeah, not billion, not hundreds of billions, trillion) dollars of student debt now outstanding in our fair land will not be repaid. Because the graduates will not generate sufficient income to pay it back. The jobs they were told were out there for them [...]
bankruptcy laws
Bankruptcy Petition Preparers. Should you hire one? Let’s face it. Folks with financial problems aren’t exactly flush with cash. So it’s tempting to cut corners in purchasing legal advice and to opt for the services of a bankruptcy petition preparer. But as with most things, you get what you pay for. Preparers really can’t–at [...]
Yes, you read it right. This is about giving creditors advice about reaffirmation agreements. It just might be a first here at Bankruptcy Law Network. But it’s occurred to me that creditors deserve some help from time to time. So why not? The reaffirmation provisions are hopelessly flawed Before 2005 reaffirmation was simple. The debtor [...]
Bankruptcy is in the Bible. In fact, there are plenty of blog posts here on Bankruptcy Law Network about what the Bible says about debt. Kurt O’Keefe’s “Is Filing Bankruptcy a Sin?” is just one of many posts. Most of these posts discuss the Bible and the morality of bankruptcy or apply particular Biblical principles [...]
Reaffirming is the only way to remain liable on a debt that is otherwise dischargeable in a Chapter 7 bankruptcy. At least in Michigan, signing a reaffirmation agreement is never a good idea, unless the bank is changing the terms to your advantage. If you keep up the taxes and insurance, and make the payments, [...]
Filing bankruptcy cases means–very soon after the case has been filed–dealing with bankruptcy trustees. I’ve practiced bankruptcy law for fifteen years now, and one thing I’ve learned about bankruptcy trustees is that they are all different. No two ask for exactly the same documents. And no two want things done exactly the same way. They [...]
