Bankruptcy

CareOne: What?s Behind Those Commercials?

Posted on March 07, 2010
As I was watching the news the other night, I saw this commercial for CareOne Credit. The name rang in my head ? and then it hit me: I had recently read about them in a case while doing some research Since the judge's observations in that case and his comments were stuck in my head ? and since I am seeing these commercials more and more - I thought I would share them here.

Families Fighting About Debt

Posted on March 07, 2010
Lately, I?ve been hearing a lot ? and I mean a lot ? about the stress that finances (and the lack thereof) is taking on families. I?m hearing about spouses sleeping on couches or in basements. I?m hearing from couples that are fighting and contemplating divorce...

IRS Form 1099-C: Discharged Debt is NOT Income

Posted on March 07, 2010
Why am I hearing from reliable sources that debtors all over the country are receiving IRS Form 1099-Cs from former creditors? What?s going on? And what can YOU do about it?

?I never thought I would be sitting here talking to you.?

Posted on February 05, 2010
I hear it from clients who meet with me for the first time, who have already had a chance to talk to me on the phone, and have already taken the time to start pulling together some important information and documents I need to assess their situation.  And usually, I see a look in their [...

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Those People

Posted on February 05, 2010
I was recently chatting with an old friend who was sharing with me her recent trials and tribulations.  She is on unemployment – has been for a while -  and trying to sell her house.  Her house is not priced to sell ? but priced in line with what other houses in her neighborhood are [...

Predatory Lending: Beyond the Buzzwords

Posted on February 05, 2010
A few years ago, someone wrote something somewhere (it wasn?t here ? I swear) that if you were the victim of predatory lending, you could get a free house.  Actually, I recall someone at a legal seminar (not here in Massachusetts ? I swear) suggesting that it could be done? which sent some colleagues of [...

Saving the Home: Thinking Beyond ?Delay and Pray?

Posted on February 05, 2010
The foreclosure numbers don?t lie.  According to ForeclosuresMass.com, a total of 478 new foreclosures were filed this week (ending January 29, 2010).  Approximately 56 homes slipped into foreclosure every day for the last 60 days.  The economy is far from a turn around...

State of the Union Decompression: The Whole Mortgage Modification Thing

Posted on February 05, 2010
After taking many months learning and understanding HAMP and how it works (and in many cases doesn’t), and after sitting through (and tweeting through) the President?s State of the Union Speech, I am admittedly still mulling it all over.  Some tout the speech as the longest in President Obama?s career...

The State of Our Union

Posted on February 05, 2010
Tonight, like many Americans, I?m going to be watching the State of the Union speech. While I have many concerns as a citizen, as a bankruptcy and insolvency professional, my focus continues to be on the economy, and the government?s efforts in moving the country through the current economic mess it is in.

Friday at Bankruptcy Bill

Posted on February 05, 2010
Today you’ll find me over at Bankruptcy Bill.

Facing Bankruptcy with Nagging Regret

Posted on February 05, 2010
I recently met with a bankruptcy client who had a lot of credit card debt, almost no equity in their home, and were unable to meet their obligations. After getting some information, and assessing their situation, I learned that they had lived in their home for almost 25 years, but in the last 12 years had [...

Relearning How To Buy Stuff

Posted on February 05, 2010
When I meet with a debtor who has expressed a desire to file bankruptcy, once of the first things I start discussing is their use of credit.  Many times, their use of credit also turns to their relationship with credit.  If you?re going to file bankruptcy, you need to stop using credit cards...

The Stuff You Find on Craig?s List

Posted on February 05, 2010
Sometimes, clients will share with me news bytes and other tit bits that I often share with clients. But today, a job-seeking client shared with me a post they found on Craig?s List that was both funny ? and a bit troubling.

?Tis the (Tax) Season

Posted on December 30, 2009
The holiday season is almost over and January 1 is the official start of tax season.   For people considering bankruptcy, it?s also a time to start getting those 2009 tax returns promptly.  I've written about this important subject before, and it's worth bringing it up again on the eve of ...

Christmas 2009: Light and Darkness

Posted on December 26, 2009
In 2006, I shared my most cherished memories of Christmas Eve.  And today, while reading it again, I was brought back to some very happy times.  Admittedly, it was not always happy.  Like everyone else, my family saw some very difficult times, and not every Christmas Eve was spent in ...

Means Test Not Required in Converted Case

Posted on December 08, 2009
If you file chapter 7, you need to complete Form 22A, the Statement of Current Monthly Income and Means Test Calculation.  But if you file a chapter 13, and then convert the case to chapter 7 are you still obligated to file the Means Test form? A Massachusetts Bankruptcy Judge ...

Under Water, Walking Away & My Two Cents

Posted on December 04, 2009
Over the holiday weekend, there were a number of press reports about a discussion paper, Under Water and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis.  Reportedly Brent T. White, an Associate Professor at the University of Arizona?s James E...

What Does a Good Bankruptcy Attorney Do?

Posted on December 04, 2009
I?ve compared my role as a debtor?s attorney as similar to that of a boy scout.  My job is to help my debtor client cross the road without getting hit by the bus.  A big part of that job is done while preparing.  In essence, I get behind the steering ...

When the Ex Files Bankruptcy

Posted on December 04, 2009
The relationship is over, but there are still lingering issues that hold you together.  Perhaps it's child support, health care, property distribution or other matters.  If your ex files bankruptcy, it is very important you understand your rights and your responsibilities ? as well as your options...

Black Friday Approaches

Posted on December 04, 2009
As I see the toll that this economy continues to take on my clients, I find that my own views of holiday shopping are changing.  As stores close, as companies lay-off and cut back, and as friends and family struggle, I am doing what I see my own clients doing:  ...

Lending to Unemployed: Frankly, There?s Got to be a Better Way

Posted on December 04, 2009
Yesterday I tweeted about Barney Frank?s idea of giving unemployed homeowners access to low interest loans.  The theory is that it help fills a gap in the Obama Administration?s plan to address foreclosures caused by unemployment.  I think this is a bad idea (and a bit of mid-term election posturing)...

Security Clearances & Bankruptcy

Posted on December 04, 2009
Occasionally, clients will ask me about whether their security clearance is at risk if they file for bankruptcy protection.  This came up yesterday when I came across a comment from a reader who expressed real concerns over his fear of losing his clearance if he filed...

November 11: Today We Remember

Posted on December 04, 2009
"Today we remember and honor the past service of America's veterans, and today we renew our commitment to meet the challenges of America's future for which they gave so much. Almost two centuries ago, Daniel Webster said in his dedication of the monument at Bunker Hill: 'There remains to us ...

Honesty and Bankruptcy, Part III: The Reality Check and the Boy Scout

Posted on December 04, 2009
In the last two entries, I shared my observations of honesty and dishonesty in the bankruptcy process.  It has been an issue that has been crawling under my skin for many months now.  And in this last installment of Honesty and Bankruptcy, I explain why that is...

Honesty and Bankruptcy, Part II: Feeling Dishonest

Posted on December 04, 2009
It seems that many people are hypersensitive over H1N1.  I was at the market yesterday and an older man sneezed, and by the looks on the faces of those standing around him, you?d have thought someone nearby was pointing and shrieking that he was a leper...

Honesty and Bankruptcy, Part I: Day of the Living Dishonest

Posted on December 04, 2009
When rapper Chris Brown beat up his then girlfriend Rhianna, there was an odd reaction from much of Hollywood.  As Adam Carolla and Dr. Drew were recently discussing on Carolla?s podcast, Hollywood?s reaction ? especially at red carpet events ? seemed less than honest and at times downright pathetic...

Social Networking Sites and Bankruptcy: The Intersection is Dead Ahead

Posted on September 30, 2009
There are a growing number of social networking sites out there on the world-wide-interwebs that people are latching onto.   In fact, both the firm and I have latched onto Facebook (we just lauched our Fan page this week!).  So I was intrigued after recently reading that a growing number of ...

The Elephant in the Room: Married Same-Sex Debtors

Posted on September 22, 2009
The decision to seek bankruptcy protection is never easy, and when two people are involved, it is not necessarily easier.  Married opposite-sex debtors have the option of seeking bankruptcy protection jointly in one case.  But as a growing handful of states recognize same-sex marriages or its legal equivalent (?unions?), and ...

Lessons of a Life Lived: Senator Edward M. Kennedy

Posted on September 01, 2009
Over the last several days, much has been written about Ted Kennedy.  As a young lad growing up on Cape Cod, the Kennedy?s were an undeniable part of my life.  And while I did not take to the street to witness the motorcade that traveled up from Hyannis ...

Power(lessness)

Posted on August 14, 2009
When the money stuff is not going the way you hoped, or planned, there can be a sense that things are just beyond your control.  And sometimes they are.  Sometimes people lose jobs, get sick or get divorced.  Sometimes bad things happen to good people...

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