Fake Wells Fargo accounts opened without consent may adversely affect victims’ credit scores. Are you affected? Wells Fargo employees opened an estimated 500,000 unauthorized credit card accounts and more than 1 million deposit accounts. Your credit score is figured in part on new credit accounts and available credit. If you banked with Wells Fargo, […]
Costs of Incarcerated Kid Dischargeable in Bankruptcy
Bankruptcy “reform” a decade ago expanded protections for those owed family support. Any debt “in the nature of support” can’t be discharged in bankruptcy, regardless of to whom it’s owed. Orange County tried to ride that change in the law to make its claim against the mother of a kid in juvie survive her bankruptcy. Last week, the 9th Circuit […]
Who Gets To Choose Your Bankruptcy Chapter?
Does someone other than the debtor get to choose which chapter a bankruptcy case is filed under? Some seem to think so. There’s an ongoing tug of war in the courts between the bankruptcy establishment on one side and debtors and their lawyers on the other about whether a Chapter 13 that pays only the attorneys […]
The Realtor’s Guide To Home Sales In Bankruptcy
Sooner or later, every realtor will encounter a property involved in a bankruptcy case. Or a property that could escape foreclosure and sell, using bankruptcy. Bankruptcy’s a different world when it comes to real estate. It pays to know how to deal. Let’s walk through the principles and procedures involved when buying or selling real […]
The Struggle To Surrender Underwater Real Estate
How difficult it can be to surrender real property in bankruptcy when you have no hope of paying for it. After all, the lender takes a mortgage on the property so they can take it from you if you don’t pay. My client’s bankruptcy plan said he would make no payments on the rental’s mortgage […]
10 Best Bankruptcy Soap Box Posts Of 2015
How do I measure which Soapbox posts from 2015 are my favorites? It’s like asking which of my children I like the best. Some posts I like because the topic is important; some because they are useful; and some I just like because they were fun to write. So, here goes my countdown to the 10 posts […]
10 Best Bankruptcy & Money Posts Of 2015
Jumping the gun on year end by a bit, I’ve gathered up the 10 most-read posts on Bankruptcy Soapbox in 2015. Without need of an envelop, please, here they are, in reverse order: 10. Debtor Bites Collector Over Stale Debt Continuing a collection action after learning the debt was beyond the statute of limitations […]
Why These Student Loans Got Discharged In Bankruptcy
Discharging the student loans of a truck driver who lived in his employer’s truck or in a homeless shelter, the bankruptcy court found that repaying $37,000 in student loans from 20 years ago would be an undue hardship. Good call, but why does the decision excite? Student loans do get discharged in bankruptcy, sometimes. This […]
Thankful
Professionally, what’s a bankruptcy lawyer thankful for? I’m thankful for experience and a skill set useful to real people with financial problems. I’m thankful for bankruptcy laws, flawed as they are, that allow people to escape debt and focus on the future. I’m thankful for the right to vote for people who might make the laws […]
Why Would Lawyer Choose Consumer Bankruptcy?
I had my fees cut last week in a small Chapter 13 case. The cut ($500) wasn’t large in absolute terms. But the wound is deep and will continue to bleed into my attitude about what I do as a professional. To borrow a phrase from my kids, I feel profoundly disrespected. The case, filed by […]
