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The Debt Podcast 
Hosted by Jay S. Fleischman, a bankruptcy and consumer lawyer located in New York City. Information and news designed to help you learn more about bankruptcy, debt relief, and consumer credit options.
Post Frequency: 4.9/day Last Entry: November 23, 2010 at 18:33:08 Recent Entries: 1537
Go to The Debt Podcast, find other Bankruptcy blogs, or browse all law blogs.
#4 We Have a Post Marital Agreement ? Does That Change Anything?
Posted on December 08, 2009#4 We Have a Post Marital Agreement — Does That Change Anything? This continues the series ?I’m Filing, My Spouse Isn’t-What Happens?? The series is introduced here. After you are married, you may reach an agreement about who will be responsible for this or that expense or debt, or maybe who will get ownership of this or [...
Why Short Sales Usually Are a Bad Idea
Posted on December 06, 2009Many of my clients tell me that they want to do a short sale. A short sale is where the mortgage lender agrees to accept less than the full amount due to release the mortgage lien and allow the sale to occur. If you can’t afford your mortgage, this sounds like a pretty good idea...
Reading My Bankruptcy Papers
Posted on December 06, 2009How carefully should I be reviewing my bankruptcy papers before I sign them. Boy that sounds like a silly question. However after reviewing hundreds of cases with my own clients, reviewing papers filed by other lawyers and observing hundreds of more cases at 341 meeting, I think it is important one...
HAMP?s False Promises: Administration Admits That So Far, It?s a Failed Program
Posted on December 04, 2009The $75 billion HAMP program designed to induce mortgage lenders to modify home mortgages owed by financially troubled homeowners isn’t working, and now the Obama administration has admitted as much. Due to recent coverage of the HAMP program’s failures by major media outlets, public awareness of the issue has been rising...
What?s In A Name? U.S. Organization For Bankruptcy Alternatives (Misleading Name/Misleading Benefits?)
Posted on December 04, 2009Debt negotiation is sometimes argued as an alternative for bankruptcy. The only ones who benefit from this alternative most of the time are the debt negotiators, not the consumers. Consumers face high fees, tax consequences and ruined credit.
Surviving the Holidays Without Credit Cards
Posted on December 04, 2009Many people survive the expense of the holidays?the gifts, the travels, the parties and the wine?by relying on their credit cards. This is a bad idea for a number of reasons. The first and obvious reason, is because you will need to pay (ever higher levels of) interest on the money you ?borrow? to buy that present or bottle of wine...
Will bankruptcy stop the (property) tax sale of my home or other property?
Posted on December 04, 2009The simple answer is yes. Filing bankruptcy will stop the sale of the property – if filed before the time of the sale and the taxing entity is notified of the bankruptcy filing. If a person is substantially behind on his or her property taxes, he may want to file a Chapter 13 which gives the him up [...
Your Small Business: When Do You Call It Quits?
Posted on December 04, 2009One of the hardest decisions a small business owner will ever face is whether to shut down a business that is losing money. It is an emotional decision because of the blood, sweat and tears that it takes to go into business for yourself. But it is also a financial decision, fraught with uncertainties and [...
Means Test Does Not Apply to Individual Debtors
Posted on December 04, 2009One of the many advantages for an individual choosing to file a Chapter 11 bankruptcy over a Chapter 13 Bankruptcy is that the 707(b) ?means test? is not incorporated into the calculation of disposable income for individual Chapter 11 debtors. Indisputably, the greatest change to the bankruptcy code in 2005 was the addition of the Means [...
They Went Broke (Increasing Numbers Every Month)
Posted on December 04, 2009The troubled economy continues to result in increased bankruptcy filings, even in the tourist or retirement areas. Bankruptcy filings are increasing each month at a rapid pace.
What Is Household Size?
Posted on December 04, 2009The Means Test is one of the biggest changes to Bankruptcy Law passed since Chapter 13 Budget Plans were first formalized in 1938. The means test is supposed to determine whether there is income available for creditors after certain allowable expenses are deducted...
Can I Keep my Non-Exempt Assets in Bankruptcy?
Posted on October 01, 2009If you file a Chapter 7 Bankruptcy, the Chapter 7 trustee will determine if the items you own (your assets) are exempt. To the extent that they are exempt, they are protected from the reach of the trustee and your creditors. Exemptions are determined by the Federal Bankruptcy Law or the Exemption laws of your state...
Can I File Bankruptcy if My Only Income is Social Security?
Posted on September 30, 2009If your only income is Social Security or SSD, you can file bankruptcy. But you may not have to. If you do not plan on going back to work, you may not need to file bankruptcy because you are considered to be “judgment proof”. That means that while your creditors can sue you and obtain a [...
Frequently Asked Questions About Bankruptcy-Part Four
Posted on September 30, 2009I’ve been posting about bankruptcy questions asked most frequently by my clients, and I’ve dealt with questions about the pre-bankruptcy process, procedural issues, and Chapter 13 issues. But almost all my clients want to know about life after bankruptcy...
Top 15 Myths Of Bankruptcy (Unless You?re Counting) Part Two
Posted on September 30, 20096. YOU WILL NEVER GET ANOTHER JOB OR BE ABLE TO RENT AN APARTMENT FALSE – Employers do not want like having their employees distracted from the job by harassment at work or the extra accounting caused by wage executions. Landlords want tenants who can use their salary to pay rent, not paying creditors instead...
Bankruptcy and Utility Shut-off
Posted on September 30, 2009Automatic stay prevents utility companies from shutting off bankruptcy debtors’ utility services on the basis of outstanding debts owed prior to the bankruptcy filing. If a debtor’s utilities have been shut-off prior to the bankruptcy, the debtor, upon the filing of her case, should provide evidence of the bankruptcy proceeding to the company and [...
How Does a Court Judgment Affect my Real Estate and What can I Do about It?
Posted on September 30, 2009If a creditor sues you and obtains a court judgment for an outstanding debt, it most states (including here in Massachusetts) they then have the right to obtain an “execution” on the judgment. This execution can be recorded at a registry of deeds to create judicial lien on real estate...
Consumer Counseling Service Exposes Banking Industry: Finds Top Causes of Debt
Posted on September 29, 2009In an article placed online with Bankrate.com, Steve Bucci of the Consumer Credit Counseling Service of Southern New England lists his Top Ten Causes of Debt. Conspicuously absent is fraud, abuse, intent and extravagance. Bucci’s list does not include scammers, tricksters, credit card abusers...
Top 15 Myths Of Bankruptcy (Unless You?re Counting) Part One
Posted on September 29, 2009TOP 15 MYTHS OF BANKRUPTCY (UNLESS YOU’RE COUNTING) 1. YOU CAN?T FILE BANKRUPTCY UNDER THE NEW LAW *FALSE – The “new” law (actually effective in 2005) put some hurdles in the way of filling for bankruptcy, but the effect is just to slow you down to give your creditors more time to pick at you before you [...
What Happens If I Inherit Money After Filing Bankruptcy?
Posted on September 29, 2009Debtors filing for bankruptcy protection should be concerned about their right to receive an inheritance within the six months after filing for bankruptcy (if some relative has died before filing bankruptcy or the relative dies within 180 days of the debtor's filing), as the bankruptcy trustee can take that inheritance to pay creditors.
Should I File a Chapter 7 or a Chapter 13?
Posted on September 29, 2009Many of my clients come into my office already knowing what chapter of the Bankruptcy Code they want to file under. Others have no idea how they want to proceed. So which chapter is “best”? The answer, of course, depends on the details of the case...
Nicholas Ortiz Speaks at Boston Bar Association
Posted on September 29, 2009Nicholas F. Ortiz, a Boston bankruptcy lawyer specializing in debtor-side issues, and John S. McNicholas, a creditor-side attorney with Korde and Associates, spoke together recently at the Boston Bar Association about bankruptcy case law developments in the First Circuit...
I Need to File Bankruptcy Again, Can I?
Posted on September 29, 2009If you have filed for bankruptcy before, you may be able to file again if you need to. But, to determine if you can get another discharge in bankruptcy, you need to know the petition date and chapter of your previous case. There is a myth that you can only file bankruptcy every seven years...
Thinking About Filing Bankruptcy? Stop those Automatic Payments.
Posted on September 29, 2009I often speak with people who have allowed their mortgage company or a credit card company or two to take a monthly automatic payment from a bank account. This is an easy way to keep up on routine monthly payments, but if you are even remotely contemplating bankruptcy, stop the automatic payments immediately...
Frequently Asked Questions About Bankruptcy-Part Three
Posted on September 29, 2009Once again, I’ll try and answer some of the questions most often asked by my clients about the banrkuptcy process, continuing the procedural questions from Part Two, this time focused on Chapter 13 cases. Bear in mind, sometimes the answers depend on individual circumstances, and you should still seek the advice of experienced bankruptcy counsel [...
Bankruptcy Protects Your Future Property, Even If Your Property Isn?t At Risk Today
Posted on September 28, 2009People are often surprised to learn that even if they don’t file for bankruptcy, their property may be protected (exempt) under their state’s exemption laws. Debtors have to be careful to follow the rules required to protect themselves from their creditors and timely file forms to claim protected property, but if they do there may [...
5 Things Your Creditors Don?t Want You To Know About Bankruptcy!
Posted on September 28, 2009Your creditors are hoping that the consumer never finds out about the five facts listed in the article posted on Bankruptcy Law Network. The debt collectors may lie to you about these five facts about bankruptcy, hoping that consumers remain afraid that their employers, bosses, will find out about the bankruptcy filing or that the filing of a bankruptcy will affect a marriage or spouse...
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New Jersey Legal Update - Podcast # 57
This week's New Jersey Legal Update podcast will address federal l...
New Jersey Legal Update - Podcast # 53
This week's New Jersey Legal Update podcast will discuss the landm...
The Mortgage Forgiveness Debt Relief Act
Phantom Income Relief on Debt Cancellation
Collection Agencies and Creditors
How to deal and stop the harassment
Bankruptcy Law
A complete prime (pre-2005)
The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets
Emergency Economic Stabilization Act of 2008
Bailout Bill HR124
Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act
If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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On 08-25 at 15:46PM
Acute perpendicular parking #NYPD #NYFD
On 08-18 at 22:18PM
Parallel parking gone bad. Too much gas UES NYC
On 08-18 at 21:41PM
UES NYC
On 08-18 at 21:25PM
Twitter suspends journalist critical of broadcast partner's coverage on dubious grounds @guyadams #nbcfail #twitterfail
On 07-30 at 17:57PM
Model example of 1st Amendment suppression by the People of New York City's Michael Bloomberg #OWS #NYPD
On 07-12 at 21:07PM
AG Holder lackadaisical on Operation in our Sites domain name seizures & RIAA lobbied free speech suppression @dajaz1
On 06-08 at 22:44PM
Why is the Catholic Church going to court over Obama contraception policy? @NewYorker commentary
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Monks sue Louisiana for right to sell caskets made from forrest destroyed by Katrina
On 05-31 at 07:47AM
Are the abortion ultrasound laws headed for the Supreme Court?
On 05-15 at 21:52PM
If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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