How you’ve handled money in the past plays no part in your eligibility for bankruptcy relief. None, nada, not a bit. Yet this issue generates all to much anxiety on the part of those considering bankruptcy. People worry that taking a vacation, buying concert tickets, signing kids up for activities, or replacing worn out appliances […]
About Cathy Moran
The Dr. Seuss Secret To Laws That Actually Work
The election is here. If you haven’t already, get out and vote. Put aside your excuses and your cynicism. Forget that democracy, at the detail level, hasn’t worked so well lately. In the big picture, voting, picking those who write the laws and those who administer them, is the essence of our freedom. Winston Churchill […]
What’s So Scary About Bankruptcy?
It’s Halloween and we indulge in make-believe scary moments and call it fun. In real life, fear isn’t so fun. People up to their eyeballs in debt are scared witless by the thought of filing bankruptcy. It frightens them more than haunted houses, ghouls, and blood-soaked bodies. So really: what’s so scary about filing bankruptcy? […]
What To Do When You’ve Been Sued
When you’ve been sued, you have short term tasks and bigger picture decisions. The most important thing to know is that, for good or bad, the law doesn’t move as quickly as you imagine. You have some time to make decisions. How long do I have in the short term? Service of a complaint for […]
Who Cares About Your Spending Before Bankruptcy?
Worried about using credit cards before bankruptcy? Afraid of prejudicing your bankruptcy case by spending your tax refund before you file? Do you imagine some authority figure deciding that your financial behavior in the run-up to bankruptcy bars you from relief? Take a deep breath. That’s not how it works. Let’s look at what matters […]
What Happens To Your Business in Bankruptcy
Before you file bankruptcy, you need to know what happens to your business in your bankruptcy. And like so many things, there’s no single, simple answer. Two factors drive the fate of the business. One is whether the business is itself a legal entity, like a corporation or LLC. The second is what chapter you […]
Who Knows? 3 Debts Perhaps Dischargeable in Bankruptcy
Some kinds of debts survive bankruptcy depending on the post filing actions of the creditor itself. The debtor doesn’t know how it plays out until 60 days after the 341 meeting. Those three exceptions to discharge look not at the kind of debt involved, such as taxes, or support or student loans. Rather these exceptions look […]
Inclusion in Bankruptcy Doesn’t Equal “Discharged”
Convincing clients that all of their debts must be included in bankruptcy is one of the hardest parts of being a bankruptcy lawyer. The struggle often seems Herculean. Sometimes, they will tell me they don’t want to include their car loan in the case because they “need the car”. Sometimes I find the student loan payment […]
Before You List Your Home For Sale: The Essential First Task
Selling your home? A letter to the servicer of your mortgage. You want full disclosure of what charges, fees, expenses and other “stuff” they want to collect from you when your sale closes. For all you know, they’ve stuffed your loan full of fees, not authorized by law or agreement, that pad their bottom […]
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