Thursday, March 11th, 2010

Mortgage Modification Mixups

January 26, 2010 by Heather Culp  
Filed under Bankruptcy Counseling, Recent News

My law partner, Rick Mitchell, and I are disgusted by the false promises and abysmal performance of the nation’s mortgage lenders who claim to be participating in the “Making Homes Affordable” program.  Homeowners were lured into this program with the expectation that they would get an answer within the “modification period” (usually 3-6 months) and [...]

Charlotte Bankruptcy Education for Realtors & Financial Professionals

With bankruptcy filings surging, people are turning to non-bankruptcy  financial professionals  for bankruptcy counseling. These professionals include real estate agents, non-bankruptcy attorneys, financial advisors and others. Then there’s the internet.
It’s human nature to try to help a client, but sometimes the advice given by someone with no bankruptcy training can do the person in financial distress [...]

Surviving USAirways Layoffs & Furloughs

Charlotte has fared better than other cities at the hands of USAirways, but it hasn’t been easy for those who’ve been laid off, furloughed or left doing the work of their former coworkers.
CEO Doug Parker says analysts predict the airline will lose $600 million this year and obviously such losses are untenable. Management will continue [...]

Small Business Bankruptcy Basics

My friend and fellow bankruptcy attorney Susanne Robicsek and I recently spoke to a group of local small business owners gathered at Central Piedmont Community College in Charlotte, North Carolina. In this tough economy business owners are wise to acquaint themselves with the legal options they may need to employ if their companies hit the [...]

Speaking on Business Bankruptcy

October 13, 2009 by Heather Culp  
Filed under Bankruptcy Counseling

Unfortunately, lawyers have a reputation for being “all about the money.”  Few people realize the pro bono (free) work so many of us do for those unable to pay.  This week my partner Rick Mitchell and I will be speaking (for FREE) in Charlotte on business bankruptcy for NC LEAP , the premier provider of [...]

Reverse Mortgage Fraud

September 2, 2009 by Heather Culp  
Filed under Bankruptcy Counseling, Recent News

Last week’s Wall Street Journal carried an article about real estate scams targeting older Americans .  It said, “Reverse-mortgage fraud, typically committed by homeowners’ relatives, caretakers or financial advisers, has also been cropping up recently in schemes to unload distressed real estate. Regulators cite cases in which real-estate speculators bought properties on the cheap and [...]

Small Business Separation Issues

September 2, 2009 by Heather Culp  
Filed under Bankruptcy Counseling, Recent News

Small business owners often say that they think of their business as their “baby.” This metaphor works when you consider the incubation, care and feeding that a business requires of its owner — sometimes 24×7.
But when it’s time to prepare a bankruptcy filing, it’s time to separate the business from its owner to determine who [...]

Moving Through the Python, Bankruptcy Cycles

Today’s economy is force-feeding the bankruptcy python: developers who can’t pay their subcontractors force the subs into bankruptcy. Most small contractors and subcontractors are owned by individuals who guaranteed the business’s debts and will eventually seek personal bankruptcy protection. Bankruptcies always come in waves.

I want to file a “medical bankruptcy”

We get calls asking for a “medical bankruptcy” nearly every day. There is no such thing. When you file for bankruptcy protection, your medical creditors are in your filing alongside all the others, including credit cards, vehicles, real estate, business loans you guaranteed, etc.

I don’t want to file, but should I?

Many people we see in our offices want us to handle negotiations with credit card companies or provide them with credit card counseling. Most often these individuals need bankruptcy protection, not creditor negotiation or credit card counseling. You may be the exception, so contact our office for an initial consultation. Here’s a checklist to see whether bankruptcy is a viable option for your circumstances.

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