Ever feel like you’re battling your mortgage lender for your life? Or the life of your home? The unfairness and irrationality of mortgage servicing makes it easy to see the fight as one for your self worth. Who is comfortable being a victim of incompetent and indifferent institutions toying with your life? I’m equally indignant. […]
We Live In An Economic House Of Cards
I’ve long said to bankruptcy clients that bankruptcy can’t fix an income problem, it can just ameliorate an outgo problem. In the last round of frantic bankruptcy filings a decade ago, one symptom seemed to be that too many families in the Silicon Valley couldn’t really afford to live a middle class life here. They […]
Are You Better Off With Bankruptcy?
Who cares whether bankruptcy filings are up or down? Bankruptcy professionals, certainly. Economists, probably. But if it’s you and your checkbook, you take little comfort that lots of others are filing. Nor, when everyone else seems to be making it OK while you flounder, are you reassured. Bankruptcy seems to follow economic expansion. Some expansion […]
When $400 Emergency Pushes You Over The Edge
The Federal Reserve reported that 40% of Americans couldn’t meet a $400 emergency without borrowing. A significant slice of them couldn’t pay it at all. So, a Bloomberg economist devoted his column to deconstructing how the press and political figures, in his opinion, misused that finding. My God. The guy was too caught up in […]
Don’t Brag About What You Saved Unless It’s True
It’s a mark of our consumer economy that we use the word save in connection with our spending. I saved $15 on this blouse. That’s well and good for today. You bought something you wanted, or maybe even needed. But unless you put the savings aside for later, you did nothing more than spend somewhat […]
Is Your Choice Of Bankruptcy Chapters Really Dictated By Your Stuff?
Through my Twitter feed came a link to the pro’s and con’s of filing bankruptcy from the business section of the Chicago Tribune. Good chance to see how non lawyers see my world, I thought. Bankruptcy was all about protecting “stuff”, said the writer, and the choice of chapters is driven by the kind of […]
Google & Me
Google and BankruptcyInBrief share a birthday, I’ve learned. I’m sure you saw the similarities in a flash. The Mercury News reports that Google was founded in 1998, the same year I bought a book and set out to make a web site about bankruptcy. I knew nothing about programming, and less about web design. But I knew that […]
Staying Out Of Bankruptcy Trustee’s Crosshairs
Clients who want the benefits of bankruptcy without any change in the way they want to live life have been the theme of my practice lately. This seems to come out when we do a Schedule J budget in a Chapter 13: they want $300/month in recreation, $1400 in food, and $300 in clothing. While […]
Melania Trump Sold The American Dream Short
The infamous Melania Trump speech at the Republican convention shared more than a paragraph or so with Michelle Obama. It shared Michelle’s aspirational thought that in America, any child with hard work and perseverance can succeed. “The only limit to your achievements is the strength of your dreams and your willingness to work hard for […]
