Bankruptcy

Storm Preparation: Letting Go and Moving On

By Bill McLeod, Esq.

I write the Storm Preparation series for those folks out there who are considering bankruptcy but just aren?t there yet. I know they are out there because they tell me ? usually weeks and months after following this blog (and doing their own research and homework) and getting the courage (or in some cases a summons to appear which prompts them) to call. This week?s blog is for those out there who are considering chapter 13 in order to save their home. And it?s specifically for some of the people out there who are struggling with the very real and undeniably painful prospect of losing their home. So when I say ?you?, that?s who I am speaking to.

For the last several years, our financial system has been propped up with (to steal a quote from Elizabeth Warren) 'chewing gum and bailing wire.' Our economy grew because homes became ATMs (we also had a war...or two...but that discussion is for another day...and maybe another blog). Some people used their ATMs to acquire luxuries. But not everyone used their home equity to buy those high end items. Others used it for necessities. Others like you.

Full post as published by McLeod Law Offices on August 13, 2008 (boomark / email).