What did readers want to know about bankruptcy in 2021? Turns out, a bit of everything. Looking at the top 10 posts among the 750 posts on Bankruptcy Soapbox, they were equally curious about how bankruptcy works as they were about life after bankruptcy. Homesteads, taxes, judgment liens are all found in the top ten, […]
Pay Off Credit Cards At Zero Percent
I’ve got news for you: There’s a government program that lets you pay the balance on your credit card without interest and owe nothing more. Sound like one of those snarky radio ads? This one’s legit. Meet Chapter 13. Credit card interest is the killer Here’s the refrain I hear from clients, over and over. I […]
Your Bankruptcy Discharge Has Teeth: Bite Back
Your bankruptcy discharge is more than a piece of paper. It’s a federal court order prohibiting action to collect the discharged debt from you. And it has teeth. When creditors ignore a federal court order, it has unpleasant consequences. Or should have consequences. So, my call to debtors is to stop being prey to unscrupulous debt collectors. […]
When You Can’t Pay Your Bills Because Of The Virus
The coronavirus has us locked at home where the worry demons play unrestrained in our heads. Money troubles cause us worry, in “good” times. These are hardly good times. As more and more of us are hit with shelter-in-place orders that keep us from work and our kids from school, we have even more time […]
What’s New In Bankruptcy Law in 2021
The new year of 2021 brings us face to face with a desolate economic landscape and the hope of better things to come. For some significant slice of Americans, bankruptcy will be a consideration. You’ll want to know what’s new in 2021 in the array of bankruptcy options and alternatives. I’m writing after passage of […]
10 Things Every Attorney Should Know About Bankruptcy
Financial stress is everywhere. It pops up in family law, litigation, business, and our dealings with taxing authorities. Every lawyer can better serve clients if they know a bit about bankruptcy, regardless of the focus of their practice. Here’s my list of bankruptcy basics for lawyers that every practitioner should know to guide clients to […]
Myth Of The Corporate Credit Card
As far as myths go, the myth of the business credit card ranks right up there with unicorns, Big Foot, and leprechauns . Every struggling small business owner who crosses the threshold of my office believes that his corporate credit card is not a personal debt. Wrong. In 41 years of bankruptcy practice, I have never seen […]
Why I Love Chapter 13
How do I love thee, Chapter 13? Let me count the ways. Hang on, because it’s a long list. Thirteen reasons Chapter 13 rocks. I love Chapter 13 because: 1. Debtors keep control of their assets. They run their businesses. There is no trustee tasked to sell their assets. 2. Repayment to creditors […]
The Fate of Second Homes In Bankruptcy
Homestead exemptions protect a principal residence when someone files bankruptcy. But what about second homes and rentals? Are they toast in bankruptcy? Not necessarily. Like many legal questions, it depends. Homes protected from creditors The legal system has a reverence for the home debtors live in. It recognizes the importance of shelter and stability to […]
Bills I Gotta Pay, But There’s A Pandemic Out There
I have bills I have to pay but no income. That despairing line was repeated over and over again in interviews with pandemic-furloughed workers on last night’s news. COVID-19 has ground the economy to a halt, no one’s working, and no money is flowing. Whether it’s called social distancing, shelter in place, quarantine, or lock-down, […]
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