Bankruptcy

Chase Home Finance Accused of Adding Improper Charges to Bankruptcy Claims

Posted on December 24, 2008
As a member of the Bankruptcy Law Network, I am part of a small group of knowledgeable and prolific bankruptcy lawyers from all over the country.  If you have not yet checked out the Bankruptcy Law Network blog, and its sister blogs Credit Law Network blog Debt Law Network blog Mortgage Law Network blog I encourage you to do so...

Will Your Credit Limit Be Reduced Based on Where You Shop?

Posted on December 21, 2008
Today's Atlanta Journal-Constitution contains a very interesting article entitled "Consumer Profiling? (...)

Will Your Credit Limit Be Reduced Based on Where You Shop?

Posted on December 21, 2008
Today's Atlanta Journal-Constitution contains a very interesting article entitled "Consumer Profiling? (...)

Honest Renters Get Caught in Foreclosure Disasters

Posted on December 10, 2008
This past Sunday, the AJC published a fascinating article entitled "Foreclosures Reach Renters."  The article reports on several very sad cases in which a hardworking rental home tenant finds himself literally out on the street following the foreclosure of his rental home and an eviction filed by the new owner (usually a mortgage lender eager to put the foreclosure property back on the market)...

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When are Credit Card Debts at Risk for a Bankruptcy Challenge

Posted on December 06, 2008
Nine times out of ten, when I meet with a potential bankruptcy client, that individual will have credit card debts.  In some cases, credit card debt can be startlingly large - I have seen many cases that include over $100,000 of credit card debt. (.....

Congress Considers Bill that Would Allow Homeowners to Modify Mortgage Terms in Chapter 13

Posted on December 02, 2008
Jonathan Alper, writing in the Florida Bankruptcy Law blog, reports that Democratic congressmen have introduced House Bill 7307 which would empower bankruptcy judges to reduce the balances of "upside down" mortgages to the value of the property and to reduce mortgage interest rates in some cases...

Should the Big Three Automakers File Bankruptcy?

Posted on November 26, 2008
The headlines about the economy are grim and seem to repeat the same refrain — the Dow  Jones, the NASDAQ and the S&P 500 seem to hit new lows every day.  Recent drops have been driven by concerns about the struggling auto industry. (...)

Georgia Legislature to Cap Real Estate Tax Assessment Increases?

Posted on November 24, 2008
It appears the Georgia Legislature is seeking to cap real estate tax re-assessment increases at 3% per year.  According to the Atlanta Business Chronicle, Republican lawmakers pre-filed legislation to this effect with Georgia House of Representatives on Monday November 17, 2008...

Tax Refund May Be At Risk in Bankruptcy

Posted on November 10, 2008
If you plan on filing bankruptcy after January 1 of next year or of any year, you need to speak with your lawyer regarding whether your income tax refund can be protected.   If you overpaid your taxes and are due a refund, that refund becomes your property on January 1, even if you have not yet filed your return...

Bill Collectors Have Blogs

Posted on October 21, 2008
Here at theBKBlog, I focus on bankruptcy issues, creditor abuse issues and information that can benefit those considering bankruptcy.  Did you ever wonder about the other side.  Yes, bill collectors have blogs as well, and it makes for interesting reading because bill collectors blog about areas of concern to them - avoiding lawsuits for unfair or deceptive practices, educated debtors, whether or not to use email when contacting debtors...

Countrywide Customers: Mortgage Help is on the Way for Many

Posted on October 12, 2008
CNN.Money.com is reporting that Bank of America has announced a plan to cut mortgage payments on loans held by its Countrywide division.  The program targets holders of subprime adjustable rate mortgage (ARMs), subprime fixed rate loans and option ARMs, but prime and Alt-A borrowers, who did not document their income, will be eligible as well...

Don't Assume You Can File Chapter 7 and "Start Over"

Posted on October 11, 2008
Over the past few days, I have received several calls and emails from potential clients who comprise a very different profile from my traditional client base.  These folks are solidly middle class to upper middle class families, often earning $100,000+ and living in $400,000 houses...

What Does the Wall Street Bailout Mean to You?

Posted on October 10, 2008
If you have been following the news, you know that a few days ago, the United States Congress passed a multi-billion dollar "bail out" of Wall Street firms and insurance companies that underwrote the risk to these firms.?? As of today (October 10, 2008), the bail out does not seem to have inspired much confidence and stock markets around the globe are tanking...

What Does the Wall Street Bailout Mean to You?

Posted on October 10, 2008
If you have been following the news, you know that a few days ago, the United States Congress passed a multi-billion dollar "bail out" of Wall Street firms and insurance companies that underwrote the risk to these firms.  As of today (October 10, 2008), the bail out does not seem to have inspired much confidence and stock markets around the globe are tanking...

An Automatic Stay Violation Case that is Hard to Believe

Posted on September 24, 2008
Search the term "stay violation" on any consumer bankruptcy blog and you will find stories of situations where creditors get hit with well deserved sanctions for their failure to stop harassing a debtor despite knowledge of a bankruptcy filing...

Debt Collector's Unlawful Message on Answering Machine May Give Rise to Stay or Discharge Violation Action

Posted on September 24, 2008
Over the past few months, I have received a number of calls from former clients regarding possible discharge stay violation actions.?? As you may know, if you successfully complete your Chapter 7 or Chapter 13 case, the judge will issue a discharge order...

Bankruptcy Law Changes Less Likely With Joe Biden on the Ticket

Posted on September 24, 2008
Ever since the passage of the BAPCPA changes to the bankruptcy laws in 2005, consumer advocates have held out hope that a new presidential administration might roll back some of the more hard line changes to the Bankruptcy Code.???? Although support for the BAPCPA laws was bi-partisan, some Democrats have attempted to tie the nation's housing crisis in with the changes to the Code...

Can I Discharge Auto Accident Damage Claim that Exceeds My Insurance Coverage?

Posted on September 24, 2008
I am being sued for an accident that occurred in the state of Tennessee. ??The injured party was offered a settlement by my insurance company, but has refused. (...)

Can I File a Chapter 7 By Myself, Without an Attorney

Posted on September 24, 2008
This morning, I received an email from a gentleman named Jim, who writes: How can I file chapter 7 by myself without paying someone, anyone $ 99.00 $199.00, $299.00 etc… Three different people( with a financial intrest of course) said representation is required...

"No Conversion from 7 to 13" U.S. Supreme Court Tells Debtor Who Hid Assets

Posted on September 24, 2008
The United States Supreme Court does not frequently hear cases involving consumer bankruptcy law.?? However, this past February, the Supreme Court considered the case of Robert Marrama, a Chapter 7 debtor in Massachusetts. (...)

Michael Vick Files for Bankruptcy

Posted on September 24, 2008
Not that it is any surprise, but disgraced Falcon's quarterback Michael Vick has filed for bankruptcy.?? The case was filed as a Chapter 11 reorganization in the Eastern District of Virginia.?? Chapter 13 was not available to Vick because his debts far exceed the debt limits imposed by the Bankruptcy Code on Chapter 13 cases...

Conversion to Chapter 7 and Divorce Issues

Posted on September 24, 2008
Whenever I file a Chapter 13 on behalf of a client, I remind my client that five years is a long time, and that a lot can happen during the term of a Chapter 13.?? Marriage counselors reguarly opine that financial stress often leads to marital discord, so it should come as no surprise that the stresses inherent in a Chapter 13 will result in marital problems...

I Went to a Chapter 7 Bankruptcy Auction

Posted on September 24, 2008
[media:Ch7auction.flv] This past Saturday, June 21, 2008, I went to a bankruptcy auction of a Chapter 7 debtor's property.?? The sale arose from the bankruptcy of a business promoter who filed bankruptcy after his project failed.?? I recorded a short video describing the type of property that was being auctioned, which is at the top of this post...

Sub-Prime Mortgage Fiasco Explained…Using Stick Figures

Posted on September 24, 2008
We have all heard about the "sub-prime" mortgage crisis, but do you really understand what it is all about and why the collapse of the sub-prime market has lead to a decline in your local real estate market as well as a decline in the American economy in general...

An Automatic Stay Violation Case that is Hard to Believe

Posted on September 23, 2008
Search the term "stay violation" on any consumer bankruptcy blog and you will find stories of situations where creditors get hit with well deserved sanctions for their failure to stop harassing a debtor despite knowledge of a bankruptcy filing...

Debt Collector's Unlawful Message on Answering Machine May Give Rise to Stay or Discharge Violation Action

Posted on September 03, 2008
Over the past few months, I have received a number of calls from former clients regarding possible discharge stay violation actions.  As you may know, if you successfully complete your Chapter 7 or Chapter 13 case, the judge will issue a discharge order...

Bankruptcy Law Changes Less Likely With Joe Biden on the Ticket

Posted on August 25, 2008
Ever since the passage of the BAPCPA changes to the bankruptcy laws in 2005, consumer advocates have held out hope that a new presidential administration might roll back some of the more hard line changes to the Bankruptcy Code.   Although support for the BAPCPA laws was bi-partisan, some Democrats have attempted to tie the nation's housing crisis in with the changes to the Code...

Can I Discharge Auto Accident Damage Claim that Exceeds My Insurance Coverage?

Posted on August 19, 2008
I am being sued for an accident that occurred in the state of Tennessee.  The injured party was offered a settlement by my insurance company, but has refused. (...)

Can I File a Chapter 7 By Myself, Without an Attorney

Posted on July 22, 2008
This morning, I received an email from a gentleman named Jim, who writes: How can I file chapter 7 by myself without paying someone, anyone $ 99.00 $199.00, $299.00 etc… Three different people( with a financial intrest of course) said representation is required...

"No Conversion from 7 to 13" U.S. Supreme Court Tells Debtor Who Hid Assets

Posted on July 21, 2008
The United States Supreme Court does not frequently hear cases involving consumer bankruptcy law.  However, this past February, the Supreme Court considered the case of Robert Marrama, a Chapter 7 debtor in Massachusetts. (...)

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