Yesterday, I was discussing a “Debt Relief Agency” as it is defined in the Bankruptcy Code. Part of the angst I have with the whole debt relief agency provisions is that I am – by definition – only a debt relief agencies to “assisted persons.” Debt relief agencies have certain specific obligations… but only to “assisted persons.” Before I continue writing, I’m going to take some aspirin; this analysis made my head hurt.
Archive for the ‘Bankruptcy’ Category
The Peculiar Parallel of Debt Relief Agencies and Madonna
Thursday, March 11th, 2010
In yesterday’s blog, I suggested that some attorneys – namely on Craigslist – were not complying with the BAPCPA imposed requirement that they disclose that they are a “debt relief agency.” That might not have been completely fair.
Certainly, when an attorney fits into the definition of a “debt relief agency”, they must disclose that fact and are obligated to comply with additional disclosure requirements. But, if an attorney does not fit into the definition of a “debt relief agency”, may they still represent individuals in consumer bankruptcy matters? The answer is yes… and that raises some interesting questions.
Debt Relief Agencies… Part II
Wednesday, March 10th, 2010
As I mentioned earlier this week, the US Supreme Court issued a ruling upholding the BAPCPA requirement that attorneys be considered “debt relief agencies.”
So we’re clear: I did not go to debt relief agency school. I went to law school. I’m not a member of the Boston Bar Association Debt Relief Agency Steering Committee; it’s the Bankruptcy Steering Committee. I’m not a member and author for the American Debt Relief Institute; it’s the American Bankruptcy Institute. I’m not a debt relief agent. I’m an attorney.
Now that I’ve cleared the air on that, let me share with you some of my concerns with this decision and its implications.
“We Are A Debt Relief Agency…”
Monday, March 8th, 2010
Have you see advertisements for bankruptcy attorneys and seen this phrase?
Has a bankruptcy attorney ever said to you “sorry, we cannot advise you to incur debt because you’re seeking bankruptcy protection”?
Ever wonder why? Well, wonder no more. This morning, the Supreme Court of the United States issued its decision in the case of Milvatez, Gallop & Milavetz, P.A., et al. v. United States. The high court has held that (1) attorneys who give bankruptcy assistance (as defined in the Bankruptcy Code) are debt relief agencies; (2) attorneys cannot advise clients to incur debt because they are filing bankruptcy. The decision is 35 pages, and I’ll be reading through it this week.
Redux Predators in our Midst: A Warning for Homeowners Facing Foreclosure
Thursday, March 4th, 2010
This first appeared on May 27, 2008. Unfortunately even today, there are people looking to scam those who can least afford it. If you’re facing foreclosure or know someone who is, this is an important read.
Redux: Things Will Get Worse Before They Get Better
Monday, March 1st, 2010
I first posted this on February 18, 2008 – more than two years ago… before the election. As I was reading through it, it occurred to me… I wasn’t far off base. Some of the links no longer lead to the page intended, but it’s worth a second look – and perhaps a second thought.
Guest Blog: Perspectives
Thursday, February 25th, 2010
Today, we have something a different… our first guest blogger: a former client who shares her perspectives on her journey into, through and out of bankruptcy.
Talking to the Kids: Dealing with Failure
Wednesday, February 24th, 2010
As you can see, in the title I use the “F” word. Now, I want to point out that by using the “F” word, I’m not saying that you – as a parent deep in debt – are a failure. Yet talking to your kids might raise some concerns that you have about how they might perceive you – and the choices you have made. And that’s the tough road I’m going to talk about today. (more…)
Kids Aren’t Stupid (Really)
Tuesday, February 23rd, 2010
That’s a heck of a title, eh? It does however, encapsulate the theme of today’s thoughts on talking to kids about the debt the family finds itself in. Just because you’re not talking about the debt issues you as a parent are struggling with does not mean that the kids don’t know – or sense something is terribly wrong. (more…)
Talking to your Kids
Monday, February 22nd, 2010
Recently, when I was talking to a client she expressed her concerns about her kids finding out how bad the household finances are. It’s not the first time I’ve heard clients express those concerns to me. And when parents are facing some real tough decisions, there are no easy answers I can provide. Yet when it comes to having to talk to kids about the debt problems that affect the household, isn’t it important to talk to them? In this series, I’ll be sharing much of my own observations in speaking with clients, in speaking with colleagues, and in some cases, in speaking with and learning from kids. (more…)
