What happens to people who file bankruptcy without an attorney? (Like the certified bankruptcy attorney in the picture, Kurt OKeefe) Across the country, we’ve found how the costs of filing have, in various ways, caused harm to those bankruptcy was designed to serve. Earlier this year, we reported on how black Americans in the South [...]
Picking up from last week picking apart Steve Rhode, though written by Rick Abelmann here Personal Finance Syndication Network. This blog post is dedicated to tearing apart this: Don’t File If You Are About To Receive A Large Sum Perhaps this is another no-brainer, but you should not file for bankruptcy if you are about to [...]
Riffing off Steve Rohde on the Huffington Post on Filing Bankruptcy – The Smart Move? Of course, it depends on your situation. Bankruptcy is not a moral decision. It is a legal choice made when the debt situation is hopeless. I am certainly not recommending bankruptcy as a casual solution and I’ve seen very few people [...]
I say this all the time, you cannot borrow your way out of a debt problem. Borrowing from Peter to pay Paul is a way a lot of my clients describe credit card pyramids, that is, using cash advances from the new credit card to make minimum payments on the old credit cards Some Borrowing [...]
Interesting bankruptcy fraud case in my hometown, Detroit. I frequently blog about telling the truth to your lawyer, and that you are signing your bankruptcy papers under penalty of perjury. Now, these are allegations at this point, so the former Rosa Parks attorney who filed bankruptcy may not be the same form of life as [...]
Let’s see what I saved in the bankruptcy grab bag this week. Bankruptcy filings follow debt. Debt goes up, bankruptcy filings go up. How high is our credit card debt now? Maria Lamagna on the Market Watch site: They now collectively have the most outstanding revolving debt — often summarized as credit card debt — [...]
Of course, when you don’t know anything about bankruptcy, or, worse, you have read inaccurate stuff online. Thanks to my friend Cathy Moran for the idea for the theme today. Filing Bankruptcy Means I Failed Well, lots of people filed bankruptcy who are considered great successes. Walt Disney and Larry King, for two. Nothing is [...]
Bankruptcy Petition Preparers Bankruptcy petition preparers remind me of the Monty Python “Spam, spam, spam, . . .” song, only, SCAM! SCAM! SCAM! Another one bites the dust. We have had lots of these in Detroit, this one worked in Illinois and Missouri. EAST ST. LOUIS • A woman from St. Peters has been indicted in federal [...]
Bankruptcy follows debt as sure as night follows day. After deleveraging in the aftermath of the last U.S. recession, Americans have once again taken on record debt loads that risk holding back the world’s largest economy. Household debt outstanding — everything from mortgages to credit cards to car loans — reached $12.7 trillion in the [...]
Smorgasboard this week. What the Heck Is Judicial Estoppel? What you need to know is, tell your bankruptcy lawyer EVERYTHING. Every debt, every asset, every claim you have against someone or company, whether a lawsuit has been filed yet or not. Because, you are swearing to the accuracy of your bankruptcy schedules, which are a [...]