News Topic: Ethics of Bankruptcy

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

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 ... Read full article

At a recent meeting of our Chapter 13 Committee meeting, a group of Bay Area bankruptcy attorneys who meet monthly to discuss recent developments in consumer bankruptcy law, a lively discussion erupted among a group of 40-50 local practitioners over Bay ... Read full article

Identity theft, the use of another’s personal information for fraud or deceit, is unfortunately a widespread problem.  And a significant number of bankruptcies involve identity theft as well.  Examples include the filing of bankruptcy with another’s name ... Read full article

A person is declared bankrupt when a court determines the person to be legally insolvent, or broke, in response to a petition filed by the debtor or his creditors. Then, following the bankruptcy law, the person’s property is liquidated and divided among ... Read full article

A straw buyer is a fake buyer set up to defraud the mortgage company.  If an individual cannot qualify for a loan for a particular home, due to bad credit or some other reason, it may seem like a solution to ask a relative or friend to purchase the home ... Read full article

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was ... Read full article

On Friday at about 5:00 p.m. local time, 34 individuals (from the court filings, it appears not represented by counsel) filed an involuntary chapter 11 bankruptcy petition against Bank of America, N.A. (a banking subsidiary of Bank of America Corporation ... Read full article

As reported today in a previous post members of a small political party filed an involuntary bankruptcy petition against Bank of America in Colorado on June 20, 2011.   If I am not mistaken there was a Bank of America branch that was seized by a Sheriff in ... Read full article