Bankruptcy Blogs

Filing Bankruptcy: Do I Have To Keep My Condo?

09/12/11

Colleague Dana Wilkinson calls it “foreclosure limbo.” You made the difficult decision, accepted reality, you cannot pay your debts, and, even filing bankruptcy, cannot keep your condo.  Or, like one of my clients, the condo you bought for your son’s family, which they could no longer pay. Whether in a Chapter 13 bankruptcy, or Chapter [...]

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Bankruptcy Is About Tough Decisions.

09/12/11

  Bankruptcy is about making tough decisions.  If it was easy than everyone would do it and the law itself probably would not be effective.  Bankruptcy is a give and take system.  You what to take a discharge of your debt from creditors but in return you must generally give something.  Whether it is attorney’s [...]

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Another Appeals Court Circuit Approves Second Mortgage “Stripping,” Even in No-Discharge Chapter 13 Cases

09/12/11

The Bankruptcy Appellate Panel for the federal Eighth Circuit Court of Appeals has added its voice to the other nine circuits that have have ruled in favor of wholly unsecured second mortgage lien stripping in chapter 13.  This means that debtors in the Eighth Circuit (Minnesota, North Dakota, South Dakota, Iowa, Missouri, Nebraska, and Arkansas) are [...]

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Hidden Treasure and Bankruptcy

09/12/11

So, where might that hidden treasure be located.  While we at Bankruptcy Law Network have repeatedly stressed the importance of listing all assets that you own (such as here).  Sometimes, you may have a claim to property and not even know it. One instance may be if you inherit property (that is, be entitled to [...]

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Bankruptcy Options For Debtors In Community Property States

09/12/11

When I meet with a married couple that are considering a Chapter 7 bankruptcy, one major consideration that needs to be addressed is whether or not to file for both, or only one of the spouses. I practice in Louisiana.  Louisiana is a community property state.  This means that all the assets acquired after the [...]

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How to Do Your Bankruptcy Credit Counseling

09/12/11

  The Bankruptcy Code mandates that the debtor take a credit counseling course within 180 days prior to filing bankruptcy.  The course is one of the many useless hoops debtors must jump through prior to filing their bankruptcy petition. If you really want to avoid bankruptcy, this “course” is not helpful I, like any other [...]

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Bankruptcy Judge Uses Creative Solution to Help Homeowner in Foreclosure Limbo

09/12/11

Nashville bankruptcy judge George C. Paine, II confronted one of the thorniest issues facing debtors in his district, and crafted a creative solution to deal with the problem.  The debtor in that bankruptcy case was caught in a situation more and more homeowners now face.  Having filed Chapter 7 bankruptcy and elected to give up [...]

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Judgments and Liens — Different, Depending on Where you Live

09/12/11

A client told me yesterday he had been researching on the internet over the weekend and had learned that “judgments cannot be discharged”, and so “why is it worth doing a bankruptcy?”  He was concerned because a big part of his problem is liens placed on his house and he wants to sell it and [...]

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OO.com Owner: Borders ‘Sucker Punched’ With Suit

09/12/11
Mandel Ngan/AFP/Getty Images

Next Jump Inc., the company Borders Group Inc.

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Dallas Firm Joins the National Bankruptcy Forum

09/12/11

The Lee Law Firm aims to provide local residents with high quality legal representation at affordable rates. Their Dallas bankruptcy attorneys specialize in all aspects of Chapter 7 and Chapter 13 Bankruptcy. As bankruptcy lawyers in Dallas, the Lee Law Firm attorneys understand the pressures their clients face as the battle a financial hardship.

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