This week, the Federal Reserve Bank of New York Published on its website the report “Insolvency after the 2005 Bankruptcy Reform”. This report confirmed what many of us in the field had known for a long time: people in financial distress who file bankruptcy recover their credit much faster than people who do not. Specifically, the […]
I had a new bankruptcy client come in this week. She complained that she called her bank when she could not make this month’s credit card payment. She said that the person at the bank they referred her to was “the biggest jerk”. I assured her that I was a bigger jerk than him. I
“The Biggest Jerk” Read More »
I posted in October about Bankruptcy, Taxes, Payment Plans And A Special Deal. In that blog, I linked to my Favorite Fall Payment Plan, which is to pay $200 in the Fall to stop the phone calls and pay the rest when the tax refund arrives. I also announced a special deal, which is that anyone
Bankruptcy, Taxes, Payment Plans And A New Special Deal Read More »
I saw a disturbing commercial this evening. A bank was encouraging people to consolidate their student loans with them. The problem is that all student loans, both student loans made or backed by the Federal Government as well as student loans made by private banks are almost impossible to discharge in bankruptcy. However, private student
Student Loan Consolidation Danger Read More »
I recently read this article, “Bankruptcy Filings Are Low, But Not Everywhere“. Apparently, bankruptcy filings are at a 24 year low. This is not surprising, as so many people filed bankruptcy during the “Great Recession”. Basically, people who survived 2008, 2009, 2010, 2011 and 2012 without needing bankruptcy protection, were unlikely to need it in
Bankruptcy Filings Are Low, But Not Everywhere Read More »
I had a client come in recently. He first came to see me four (4) years ago because he was being sued. He paid me $200.00. I wrote a letter to the creditor advising that he would be filing bankruptcy soon, and he has not been in my office since. He is actually somebody I
Why I Am So Flexible About Attorney Payment Plans Read More »
Every six months, the United States Trustees Office publishes census data of median income by state and family size. This data is important to Bankruptcy practitioners such as myself, because clients whose household incomes are above the median income for a family of their size in their state are subject to the “means test”. Those
Median Incomes Are Falling!!! Read More »
I am lumping bankruptcy and taxes together for two reasons. The first is that these are my other two areas of practice. I have done thousands of bankruptcies in the past and I am a tax preparer as well. So these are major practice areas of my firm. I do not believe that anyone whose
Facebook, Other Social Media And Bankruptcy And Taxes Read More »
I receive questions from various websites regarding bankruptcy and other issues. Most of the time, I do not respond, because the questions are usually uninteresting; other attorneys have responded, and I do not have time. I found this question interesting, because it addresses a fairly common problem that is very easy to avoid. It also
Question Regarding Car Loans From Family Members And Bankruptcy Attorney Error Read More »