Bankruptcy Blog Archives

A loan contract is a two-sided business deal. Both sides should understand all the components of an agreement and all the of the risks prior to formalizing the contract. This blogging comment was posted on the internet in November of 2007: “I have little sympathy for debtors that file bankruptcy, while they may not have [...]

You may be wondering whether or not you need to file for bankruptcy. Bills may be piling-up and you may not understand when filing for bankruptcy protection in New York is justified. How do you know if you are bankrupt? If your current sustainable income plus any cash reserves will not pay all of your [...]

The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 changed the way bankruptcy courts now handle the repossession of a secured asset. The Kansas State Supreme Court recently upheld the new law in Hall vs. Ford Credit, mandating the debtor had to reaffirm his vehicle if he wanted to keep it, despite remaining [...]

Mortgage lenders facing stiff reprimands, possibly penalties & fines April 14, 2011 By Mike Hinshaw Anyone who’s considering or who has filed for bankruptcy protection needs to be aware of the latest news in the ongoing probe of the biggest U.S, mortgage lending banks. This is especially relevant for those who have been driven to [...]

In the USA, bankruptcy protection is designed to keep folks productive April 12, 2011 By Mike Hinshaw When Russia embraces the concept of bankruptcy protection for people at the end of their financial rope, even the most die-hard critics of debt-relief should take notice. Yes, it’s true: even in the 21st century, there still exists [...]

Like the new CFPB, it would be a consumer advocate, but authors say it’s modeled on IRS unit April 6, 2011 by Mike Hinshaw Comedian turned senator, Al Franken (D-MN), has taken on the serious problem of home foreclosure with a proposed bill that reintroduces his 2010 idea to create an agency similar to the [...]

Second annual bankruptcy seminar in Michigan: questions abound March 31, 2011 By Mike Hinshaw For readers near Plymouth, Michigan, a March 30 press release describes an annual seminar on consumer bankruptcy that’s open to attorneys and “anyone interested” in course work for bankruptcy and personal finance. However, please read the entire post–everybody–because another piece calls [...]

An article written by David K. Bowsher for the Journal of the American Bankruptcy Institute in April 2011 was re-posted on the Institute’s website on March 30, 2011. In an introduction to the posted article, a writer for the Institute wrote, “This article raises an ostensibly simple question: Which of two federal statutes addressing the [...]

What happens when you find out your learned Pastor has been fleecing the flock, so to speak? Depending on which Christian denomination he has been fleecing in, the good shepherd could be moved on to the next flock or sent packing to wander alone in the wilderness of life. In any regards, when a clergyman [...]

This personal bankruptcy story was posted on the internet in February of 2011 as comments in a bankruptcy discussion: “Judgment against homestead owner — Lien on excess value of homestead property. A judgment against the owner of a homestead shall become a lien on the value of the homestead property in excess of the homestead [...]