Archive for the ‘Bankruptcy’ Category

Rocking On & Moving On

Every now and then, I come across something that I think my readers will find interesting… so much so that I want to put it here so everyone can get access to it.  It’s far easier for me to say “hey, did you hear…read…see, etc.” and then when people say “well, no, where can I find it?” I can just tell them it’s on this here website.  This is one of those times.

Each week, The Moth features true stories, told live, without notes.  It’s available for free on ITunes, or by checking out The Moth website. “The Moth, a not-for-profit storytelling organization, was founded in New York in 1997 by poet and novelist George Dawes Green, who wanted to recreate in New York the feeling of sultry summer evenings on his native St. Simon’s Island, Georgia, where he and a small circle of friends would gather to spin spellbinding tales on his friend Wanda’s porch.”

The story I want to share with you was recorded earlier this year by Dan Kennedy, who is a regular announcer on the podcast and is also the author of Rock On: An Office Power Ballad.  You can download it on ITunes and take it with you, or turn up your speakers a tad and give yourself a little more than 16 minutes to hear this through.  It’s called And How Does That Make You Feel?

Later this week, I’ll share my thoughts.  For now, please listen and enjoy.

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Birds flying high, You know how I feel

Back in September, I blogged about the conflict that exists with the rights of married same gender spouses to file a joint bankruptcy petition, and the conflict posted by what I have no problem calling the politically and legislatively ill-conceived Defense of Marriage Act.  I felt then that it was – to get a bit personal here -  another betrayal by the Clinton Administration (the first being “Don’t Ask/Don’t Tell”).

And just a few weeks ago, I met with a debtor contemplating bankruptcy who wanted to file a joint bankruptcy petition with his same-sex spouse.   I advised him that he had two choices: one, is that he could focus on getting the relief from the debt that he had and work towards getting his discharge and getting on with his life.  That meant separate petitions, separate cases, separate docket numbers.

Or the other: he and his husband could hunker down, prepare for a long (and not an altogether inexpensive) legal battle that may – or may not – end up at the U.S. Supreme Court – and he could revel in proving a point (although I can think of few bankruptcy debtors who by the time they arrive at the steps of any US Bankruptcy Court actually feel that they need to prove a point… other than the one that is rather obvious).  Ultimately, same sex married couples have not enjoyed the benefit of filing a joint bankruptcy petition because the Defense of Marriage Act precluded such joint filings by same sex spouses.

But today, I’m feeling good. (more…)

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Now… About Those Secrets that the Credit Card Companies Don’t Want You to Know

You’ve seen the commercials and heard them on the radio: “don’t pay your debt, don’t go into bankruptcy, eliminate your debt!”

Eliminate your debt without bankruptcy? Really?  What the hell am I advising my clients then?

So I did some poking around… which is big fancy lawyer talk for “legal research.” And I think I was able to put my finger on what some of these companies are actually selling.

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A Friendly Reminder to List it or Lose it

If you don’t list all of your property on your bankruptcy schedules, you risk losing it.  Let me repeat this again, just in case you think I might be kidding: if you do not list all of your property on your bankruptcy schedules, you will lose it.

I’ve written about this before and I came across a recent decision out of the US Court of Appeals for the District of Columbia that reminds is that “list it or lose it” is alive and well. (more…)

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Credit Fueled Drunken Debauchery

Come on, you had to know I was going to write about this: Her no longer royal highness Sarah Ferguson is blaming booze (and her debt) for her lapse in judgment in seeking money in exchange for access to her ex-husband, Prince Andrew.  I’m still not entirely clear what “access” really meant… that alone could be another blog, on another website.

Oddly, this reminded me of among the many colorful jobs I had when I was going through school was that of a bartender.  In the movie “Cocktail”, Tom Cruise made bartending look sort of cool.  And to an extent it is… but for the smells of dirty bar rags that still sometimes haunt me in my dreams.  It also helps to have the physical stamina of a 20-something and be able to be cheerful and attentive past midnight.  Or 4am.

Then there’s another aspect of being a bartender that isn’t so fun: having to shut someone off.  That’s when a bartender has to make the call that a patron has had a wee-too-much and can be served no more alcohol.  Any bartender will tell you – this aspect of the job stinks.  But I see this emerging attitude about lenders and their reckless credit underwriting standards that resembles the same often righteous indignation I see when I would tell people they were on their last drink of the night.

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Another Road to Failure: How Do I Qualify for Bankruptcy?

Once again, the misinformation about bankruptcy permeates the world wide inter-webs like a smelly fart on a school bus in the summery humid weather like we’re having here today in Boston.  But since analyzing this “information” is almost like shooting fish in a barrel, I’m able to take some time and again grade this really bad article entitled: “How Do I Qualify for Bankruptcy?”

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Blackberries & Form-Fillers: What Bankruptcy Practice is Really About

As I continue to work through (in my mind) the issues raised by the proposed auction at 115 Cottonwood in Fairhaven, I recall attending a seminar where one of the speakers remarked that consumers have become “Blackberried.”  Specifically, the speaker mentioned that clients had a tendency to send via Blackberry or email a specific legal question, and then call within 10 minutes or so wondering why no response to the question had been provided.  The speaker remarked at how clients wanted information “now” – but lawyers on the other hand, sometimes need time to think and analyze before responding.

The same can be said for certain practice areas.  For many years, I thought that consumer bankruptcy practice was just completing forms and filing them.  Many, many years ago, before I embarked out on my own an old friend and colleague from law school told me that the only way to practice bankruptcy law successfully was by “volume.”  That might have been true (way) back then, before BAPCPA was enacted, but it’s not the case now.  And it cannot be.

When I got out of law school, the thought of being a bankruptcy lawyer never entered my mind.  In fact, it was the last thing I wanted to do.  I viewed it as little more than completing forms.  Over time, I learned that I was wrong.

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Do It Yourself Chapter 13: The Road To Failure

Through Twitter, I came across this article “How to File Chapter 13 Bankruptcy Without a Lawyer.” Since I wrote a book about chapter 13 – where I emphasize the need for competent representation – and, since I am also a lawyer, the title alone intrigued me.  So I clicked and read the article.  Then, I got steamed because not only was the article excruciatingly inaccurate, in some instances it was flat out wrong.  So, I’ve copied and pasted each of the “9 Steps,” and offered my response and I grade each answer.

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Cheap Becomes Expensive

Like many attorneys, I get calls from prospective clients asking me what my fee is for a bankruptcy filing.  It’s not a particularly difficult question to answer – in theory.  But at the same time, it is.  Generally, I know that if their concern is price, then who they retain as their attorney is not all that important to them.  But I also get calls from prospective clients who have or had another (and less expensive) attorney who now is not performing at what they believe is an acceptable level.  Perhaps they aren’t returning calls.  Perhaps they are not giving straight answers to honest questions.  Or perhaps better said, the cheap attorney doesn’t know what the hell they are doing.  The desire to go cheap has now turned into something expensive. (more…)

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When the Nest is not Empty: Some Food for Thought for Parents Struggling with Debt

Over the last several months, I’ve have met a number of parents seeking advice about bankruptcy.  While every family has its own unique set of circumstances, all of these people I’m referring to are homeowners, and all have been struggling making mortgage payments.  All have adult kids living at home.   And let’s face it – if they are sitting across the table from me – a bankruptcy attorney – things aren’t going so well.

Some have kids who have graduated from high school, college or graduate school, and they are still living at home.  Some are working, some are not.  Some kids are working, while going to school part time.  Others cannot find employment or are under employed.

I will inevitably ask one question: “Is [the adult child who is working full time or even part time] contributing to the household income?”  If, the answer is “no”, there might be some bigger problems.

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