The Wall Street Journal recently reported that the City of Detroit has hired a bankruptcy attorney to tell their creditors to accept pennies on the dollar or be completely wiped out if the city files bankruptcy. Kevyn Orr is the bankruptcy attorney that has been hired by the governor of Michigan to negotiate this debt […]
Do you remember when you were a kid and you hesitated to get in the water? Were you the kind of kid that slowly got in or did you just take the plunge? Do you remember how good it felt when you finally made the jump? As a kid, I remember thinking to myself, “This […]
As a general rule, I do not think it is ever a good idea to reaffirm a mortgage in a Chapter 7 bankruptcy case. When you reaffirm a debt, you basically re-obligate yourself on it and make yourself personally liable for something you could have eliminated in a Chapter 7. However, most of my clients […]
Since June is just around the corner, we are getting a lot of calls from potential bankruptcy clients who are asking, “Should I file bankruptcy before I get married?” Love is in the air. I can just hear that song right now. Click here if you want to know what song I’m singing. The important […]
“Who qualifies for Chapter 7 bankruptcy?” About an hour before I wrote this blog post, I spoke to a potential bankruptcy client who was so distressed because one of her friends told her, “You cannot wipe out debt anymore with bankruptcy. Haven’t you heard? They changed the law a few years ago.” I cannot believe […]
The Atlanta Journal and Constitution reported today that 2,400 new jobs are coming to Dalton and Chatsworth. As a bankruptcy attorney that has clients from both Dalton and Chatsworth, I can personally attest to the fact this area has been hard hit by this awful economy. I’ve seen a lot families use Chapter 13 to […]
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