A great man and bankruptcy lawyer who pioneered the use of the U.S. Bankruptcy Code to revive financially sick corporations and save tens of thousands of jobs, Harvey MIller passed away last week. Please join me in taking a few moments to read about and reflect on the contributions that this great man made to […]
According to a recent report by the Federal Reserve Bank of New York, consumer debt on mortgages, car loans, credit cards and student loans have all increased significantly since 2013. Although the delinquency rates are more or less unchanged since the post-“Great Recession” de-leveraging, the amount of overall debt has increased, apparently due at least […]
Filing for bankruptcy relief is a major step. It is a repair of last resort when other attempts to get a handle on your debts have failed. Although the process can be scary and confusing, with the right guidance your bankruptcy filing may very well end up improving your credit score, helping you save more […]
**BREAKING** Bill introduced in the U.S. House of Representatives – Would Make Student Loans Dischargeable in Bankruptcy
A bill introduced in the U.S. House of Representatives on January 21, 2015 by Rep. John K. Delaney, D-MD (H.R. 449) would completely remove 11 U.S.C. §523(a)(8) from the United States Bankruptcy Code, rendering all student loan debt dischargeable under any Chapter of the U.S. Bankruptcy Code. The bill has just been referred to the […]
For decades prior to the bursting of the real estate bubble and the financial collapse of 2008, conventional wisdom had touted the virtue of public policy directed toward encouraging home ownership. Now in 2015, home ownership is at 65% in the United States – its lowest level since 1970. Home prices are still down, growth […]
With the NEW YEAR comes not only the promise of new beginnings, but also promises we make to ourselves to put behind us the mistakes and history that has held us back, and to promote the thoughts and actions that bring out what is best in us. What are your New Year’s resolutions? Have you thought about […]
Surrendering your old car in bankruptcy, but the lender refuses to accept title or release the lien? They might have no choice.
There’s just not enough money at the end of the month for all the bills you have to pay. Maybe it’s due to a layoff or an illness. Whatever the reason, you fell behind on your mortgage and now the mortgage company wants to take your family’s home. If you are facing foreclosure and cannot work out a deal or other alternative with the lender, bankruptcy may help.
Did you know that filing for bankruptcy can stop a lawsuit? In fact, thousands of bankruptcy cases are filed to stop collection lawsuits as well as prevent judgments from being entered.
You’re not alone. According to CNN’s website, medical bills are the cause of more than 60 percent of U.S. bankruptcies. If you or a family member have ever been hospitalized or suffered from a long-term illness, you are aware of the high costs of healthcare.