Ethics of Bankruptcy

San Jose Bankruptcy Lawyers Raise Concerns over Perceived Trustee Abuses

08/27/11

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 Area Chapter 7 panel trustees’ increased reliance upon lengthy questionnaires and blanket document requests [...]

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Identify Theft in Bankruptcy

08/20/11

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 or listing another person who is in bankruptcy on a deed to avoid foreclosure. Often, identity thieves want [...]

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3 Common Types of Bankruptcy Fraud Can Land You in Prison

07/14/11

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 his creditors to pay his bills. A person commits bankruptcy fraud – a [...]

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What is a straw buyer and what are the consequences? Is this an option to consider if I can’t qualify the home I want?

06/30/11

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 and pay them.  However, this [...]

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Billionaire Bankruptcies?

06/27/11

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 pro-debtor.  The idea was to provide a fresh start for people who had suffered under the [...]

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Read the Documents in the Bank of America Involuntary Bankruptcy

06/20/11

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 Florida when it failed to pay a [...]

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34 Individuals File Pro Se Involuntary Chapter 11 Bankruptcy Petition Against Bank of America, N.A.; Bank of America Quickly Responds & Asks for Immediate Dismissal

06/20/11

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 (NYSE: BAC)).  In the petition, the individuals assert claims against Bank of America of between [...]

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Are the Bible’s Debt Forgiveness Principles Codified in the Bankruptcy Code?

04/23/11

Despite sites like National Bankruptcy Forum which disseminate good bankruptcy information to the public at large, some think that filing for bankruptcy carries a stigma. I guess we have Dave Ramsey to thank. Is filing for bankruptcy ethical? We’ve addressed the subject many times before on this forum. For example, see: Does the Very Existence [...]

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