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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.
Is My Bankruptcy Lawyer Legally Required to Keep Representing Me?
Posted on September 27, 2009Here’s a topic you’ll hardly ever see discussed anywhere: is a bankruptcy lawyer required by law to continue representing a client in a bankruptcy proceeding, even if the client won’t or can’t pay the lawyer any more fees? You might be surprised to learn that in most federal court districts, the answer is yes, the lawyer [...
What If I Can?t Speak English at My Bankruptcy Hearing?
Posted on September 27, 2009Interpreters are available in 196 languages for debtors at the meeting of creditors in bankruptcy cases. The U.S. Trustee is providing the interpreter services free of charge by telephone to assist debtors with who do not understand or speak English...
California Woman Launches Debtors? Revolt
Posted on September 27, 2009Drunk from the billions in federal bailout milk, Bank of America decided to raise Red Bluff, California resident Ann Minch?s credit card interest rate to over 23%. Bank of America’s move was both bizarre and self-destructive. Bizarre because Minch, though recently laid off, had continued to make the required payments to the bank, at [...
New York Bankruptcy Lawyer To Sponsor Humanitarian Efforts Through Social Media
Posted on September 27, 2009New York bankruptcy lawyer and past President of Bankruptcy Law Network Jay S. Fleischman has long embraced social media tools such as Twitter and Facebook. But now he’s put his belief to good work by sponsoring Go Global 24, a fundraiser for Doctors Without Borders...
Frequently Asked Questions About Bankruptcy-Part Two
Posted on September 26, 2009A friend and colleage says that you can correctly answer any question about bankruptcy with the phrase “it depends.” In this series I am trying to provide straightforward answers to some of the most frequently asked questions about bankruptcy, where that is possible...
Section 707(b) ?Abuse? Motion: Here?s What to Do When You Receive One
Posted on September 26, 2009You have filed chapter 7 bankruptcy, and everything was going smoothly, until you received a motion from the U.S. Trustee’s office under section 707(b). The U.S. Trustee (UST) says your case is an “abuse” of chapter 7 and that you can afford to repay part of your debts in a chapter 13! However, you know [...
Oregon Declares Tax Amnesty if You Come Clean Now
Posted on September 26, 2009What is Oregon Tax Amnesty and how do I get some? It is a special program to allow Oregonians and others who owe Oregon tax to come clean without financial punishment. An Oregon tax scofflaw can qualify for the amnesty program on pre-2008 tax liability by filling out an application and submitting it to the [...
GM Adds Third Shift To Three Plants.
Posted on September 26, 2009A little bit of good news came from General Motors this week when they announced that a third shift will be added to three of its facilities. Fairfax, Kansas, Lansing, Michigan and Fort Wayne, Indiana will all have a graveyard shift by April 2010. In Fairfax, Kansas alone 945 jobs be added...
Refunds: Bankruptcy Attorney Fees
Posted on September 26, 2009It is not uncommon for a debtor to have second thoughts about filing for bankruptcy relief, terminate attorney services prior to filing, and request a refund. There are many reasons debtors change their mind, such as being persuaded by others that bankruptcy is not in their best interest, finding a cheaper price by less experienced [...
My Social Security Number Is Protected During Bankruptcy, Right?
Posted on September 25, 2009One of the fears of filing bankruptcy is whether or not one’s privacy will be breached. This fear arises from that fact that Bankruptcy is a public record. This means that anyone can show up to any bankruptcy proceeding or pull your bankruptcy paperwork...
Really, It?s Not That Hard to Compile the Information for a Bankruptcy Filing
Posted on September 25, 2009If you have recently inquired about filing bankruptcy, you might have suffered a shock when your lawyer told you what paperwork you would need to produce in order to file the case. If so, read on for a pleasant surprise. Different bankruptcy lawyers often communicate the same information to clients in different ways...
Means Test Numbers Change November 1
Posted on September 25, 2009The income figures used on the bankruptcy means test will change for debtors filing petitions on and after November 1, 2009, the U.S. Trustee program has announced. The numbers could go up or down. Some people are predicting lower figures due to the economic downturn...
You Mean I Can Actually Sue My Creditors In Bankruptcy?
Posted on September 25, 2009In a word, yes! A debtor in a bankruptcy case can file a lawsuit within the bankruptcy case for any number of reasons. The lawsuit is called an adversary proceeding. As the economy continues to struggle, the debt collection industry is also trying hard to get money out of your pocket and into theirs...
The Homestead Exemption in Bankruptcy is Hard to Lose
Posted on September 25, 2009I recently blogged the question “Is it possible to lose my homestead exemption in bankruptcy court?” This is an important question because people who file bankruptcy want to be sure that their homes will be safe. That question has now been clearly answered in the Northern District of New York...
Bankruptcy and Pet Ownership
Posted on September 24, 2009I get to meet of all of my clients’ pets. Doing in-home bankruptcy consultations for 18 years, I have seen Sugar Gliders, Ferrets, Pot Bellied Pigs, African Grey Parrots, Boa Constrictors, Cuban Rock Iguanas, one Alligator and countless varieties of cats and dogs...
Most Frequently Asked Questions About Bankruptcy-Part One
Posted on September 24, 2009Most people want simple, clear, answers to a few simple questions about bankruptcy. Sometimes the answer depends on your circumstances. Most bankruptcy lawyers, however, turn the tables and ask a whole lot of questions before answering the client’s questions...
Reaffirmations in Bankruptcy part 2
Posted on September 24, 2009Reaffirmation is the process used by an individual who has filed bankruptcy to keep their secured assets and continue to pay the secured debt. Mortgage debt is a complicated area involving reaffirmation. it is important to review this in your state as property and foreclosure law varies from state to state...
Do I Have to be Current on My Bills to File Bankruptcy?
Posted on September 24, 2009A regular question we hear from folks comes in two flavors: Do I have to be current on my bills in order to file bankruptcy? How far behind do I have to be to file bankruptcy? The simple answer is that you need to be in debt to consider bankruptcy but where you are in your payment cycle [...
Should Your Corporation or Limited Liability Company File Chapter 7 Bankruptcy?
Posted on September 23, 2009Most of the time, there is no reason to file a Chapter 7 bankruptcy for a corporation or limited liability company. (We?ll call them both ?companies? in this post). However, there are some instances where filing Chapter 7 for the company makes good sense...
When Is A Car Purchased For Business Use?
Posted on September 23, 2009In Chapter 13, a consumer can reduce how much is repaid on an automobile under certain circumstances. But the law limits that reduction, called a “cramdown” where the car was purchased with the loan money within the last 2 1/2 years if the car was bought “for the personal use of the Debtor...
Banks And Credit Unions Can Keep Money When Bankruptcy Is Filed
Posted on September 23, 2009If there is money in a credit union or bank account when a bankruptcy case is filed, the lenders may keep the money in the borrowers banking account to apply against debts owed to them. Credit unions often give their members loans or credit cards, and because the debt is owed to the “bank” that [...
Student Loan Forgiveness, Fact or Fantasy
Posted on September 22, 2009The College Cost Reduction & Access Act went into effect July 1, 2009. This legislation provides for forgiveness of federally-guaranteed student loans for individuals in certain public service occupations provided they meet certain conditions. Eligible borrowers must consolidate the loans into an Income Contingent Repayment Plan (ICRP) or Income Based Repayment Plan (IBRP), make scheduled [...
What is Chapter 7 Bankruptcy?
Posted on September 22, 2009Chapter 7 Bankruptcy, also called ?Straight Bankruptcy? allows a debtor to discharge, or wipe-out, dischargeable unsecured debts. Unsecured means that there are no liens against property you own, given in exchange for the debt. Examples of unsecured debts are credit cards, medical bills, professional?s fees, or personal loans...
Strategic Bankruptcy?
Posted on September 22, 2009More and more often these days, we are hearing about “Strategic Foreclosure Defaults” in the housing market. Such defaults occur typically when a borrower with perfect credit and ability to afford the mortgage, makes the intentional financial decision to let a home foreclose back to the lender...
Car debt key to means test deduction
Posted on September 22, 2009Pledge your car for a small loan and save big when you file bankruptcy. Such idiocy follows from the 9th Circuit Court of Appeals decision in Ransom. At issue was whether a debtor got a deduction on the means test for the costs of acquiring a car if the car was fully paid for...
Will Changes In Student Loan Laws Help Me?
Posted on September 22, 2009It is difficult to discharge student loans in bankruptcy. The House of Representatives passed a bill changing student loan laws, but not their treatment in bankruptcy. Not yet, anyway. As it stands, the government subsidizes student loans made by private banks...
Free Access to Documents Stirs Up Court Administrators
Posted on September 21, 2009Federal court documents, including Bankruptcy Court filings, accessed through a new program called RECAP (PACER spelled backwards) can be viewed without cost. RECAP is an add-on to the free internet browser Foxfire. Because the courts generate revenue to operate their electronic record system called CM/ECF, a program that bypasses their ticket window causes some court [...
Be careful which debts you reaffirm
Posted on September 21, 2009A tire company sent a reaffirmation agreement to me for one of my clients to sign. A reaffirmation agreement is a new contract to pay an old debt that is included in your bankruptcy filing. I laughed when I saw who it was from but I laughed even harder when I discovered it was for [...
Debt Settlement Firms: What Are They Good For? Absolutely Nothing! (Good Gawd)
Posted on September 21, 2009Debt Settlement Firms and War share at least one thing in common: Both are good for absolutely nothing! “Say It Again!” I said Debt Settlement Firms, “Huh…What are they good for?” Absolutely Nothing! “Listen to me now!”THE BUSINESS MODEL The Debt Settlement Firm’s business model is flawed and not in your best interest...
New Bankruptcy Law: Time Deadlines
Posted on September 21, 2009New bankruptcy time deadlines take effect December 1, 2009. Time will now be computed in multiples of 7. This change will minimize situations where deadlines come due on weekends. Bankruptcy has many different deadlines based on multiples of 5 – 5 days to submit documents, 10 days to appeal, 15 days to file pleadings, 20 or [...
Previous | Next
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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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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