file bankruptcy

A diamond engagement ring can be a symbol of love and devotion.  It can also be a potential problem in a bankruptcy proceeding.  Ever since the DeBeers Organization began an aggressive marketing campaign for diamonds during the depression years of the 1930’s, diamond rings have become common place as in engagement arrangements.  They can be valuable, and exemption laws often cover only limited amounts for jewelry.

A five year study of the 2005 Bankruptcy Reform Act conducted by The Institute For Financial Literacy paints a picture of who files bankruptcy, and why.  Do you see yourself in this picture?  

In my Bankruptcy practice, I see people every day in the midst of a homeowner’s dilemma.  Try to save the house, walk away, file bankruptcy, do a modification, or what?  Most often, I spend time with them simply dispelling myths!

Here are seven of my favorites:

One of the first things you learn in law school is: “only a fool has himself for a client”. It is hard to imagine a situation that this truism applies more to than filing bankruptcy. While individuals may represent themselves in bankruptcy court and file a bankruptcy case without an attorney or “pro-se,” it is [...]