Ethics of Bankruptcy

How Bad is Bankruptcy For Your Credit?

04/10/12

What stops people from filing for bankruptcy? Is it fear, pride or a belief that declaring bankruptcy is in some way unethical? If you stopped and asked 10 people on the street for the number one reason not to file bankruptcy, most would mention damage to their credit. How Bad is Bankruptcy For Your Credit? [...]

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First Circuit: Lender Not Obligated to Foreclose on Home Surrendered in Bankruptcy

03/28/12

Surrendering Property Usually Allows the Debtor to Walk Away From Underwater Property. What Happens When the Bank Refuses to Take Ownership? One of the big advantages for consumers filing bankruptcy is the ability to surrender property they can no longer afford. Through bankruptcy, debtors can avoid a deficiency lawsuit and get rid of personal liability [...]

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Are Consumer Bankruptcy Attorneys Biased Towards Chapter 13 Bankruptcy?

01/27/12

Are Consumer Bankruptcy Attorneys Biased? In my experience, absolutely not. In fact, consumer bankruptcy attorneys are among the most dedicated the legal profession has to offer, performing what is sometimes a thankless job for people who are under tremendous stress both financially and emotionally. However, like any large group, there are areas that the consumer [...]

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What is Bankruptcy?

12/16/11

Bankruptcy Relief Hasn’t Always Been Available Bankruptcy is a process under federal law whereby individuals as well as businesses can shed unmanageable debt and start over. Under the right circumstances, filing for bankruptcy can provide tremendous relief, however, for much of history, the concept of discharging debt was quite foreign. Historically, individuals who could not [...]

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Can I Pay Back Debts After Filing for Bankruptcy?

11/18/11

Paying back debts after bankruptcy Filing for bankruptcy eliminates your personal liability for debts. Once you receive the discharge order from the court none of your creditors can come after you for what you previously owed. This is the law, creditors who attempt to collect debts that have been discharged through bankruptcy will find themselves [...]

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What is a Lien strip?

11/11/11

What is a Lien strip? A Lien strip is possible only in a Chapter 13 bankruptcy and only if the fair market value of the property is less than the total amount of money due on the first mortgage. In that case a second and third mortgage if any can be stripped off the house. [...]

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MF Global company headed by former New Jersey Governor Jon Corzine files bankruptcy owing billions.

11/04/11

MF Global filed bankruptcy amid allegations of misconduct followed shortly by the resignation of former New Jersey Governor and U.S. Senator from his Chairman and CEO position at MF Global. The former Goldman Sachs executive could not save a troubled business that owes more than a billion dollar to Chase, about a billion to Deutsche [...]

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Compassion Fatigue in Consumer Bankruptcy Attorneys and Mental Health Professionals

10/24/11

In September of 2011 I took an informal survey of National Association of Consumer Bankruptcy Attorney (“NACBA”) members on professional burnout.  Through a post on the NACBA listserv discussion group I asked NACBA members to rate on a scale of 1 to 10 how burned out they had gotten from practice and what were the [...]

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Is Bankruptcy Right For You?

09/30/11

I see many clients each day as a Dallas bankruptcy attorney and I advise all of them to ask themselves one question: Is bankruptcy right for me? Of course many people do not know the answer to that question upon walking in, but it is my hope that they can all confidently answer that question [...]

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How Do I Choose A Good Bankruptcy Attorney?

09/07/11

Characteristics of a Good Bankruptcy Attorney If you’re faced with the unfortunate task of filing for bankruptcy, there’s nothing more important than having a highly qualified Arizona bankruptcy attorney by your side. Not only do reliable bankruptcy attorneys help seamlessly guide you through the process, but they can also make sure you get the full benefit [...]

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