We have seen how sloppy and aggressive foreclosure processes have taken a toll on homeowners, neighborhoods and the economy in general. Last week's news of a House panel examining lapses and gaps in mortgage servicing regulation caught my attention, but I don't expect a speedy resolution. State attorneys general and the Justice Department are advanced talks with JPMorgan Chase & Co. … [Read more...]
Small Business Capital Event
May 6, 2011 By
Does Your Business Need Money? Connect with lenders, investors, resources and business contacts. One-On-One Meetings with 25+ Funding Sources Small Business Resource Expo Preparing to Access Capital Workshops - putting together your funding proposal - learning the language of funding sources - managing your customer base with your bottom line in mind - understanding equity financing and … [Read more...]
Charlotte Chapter 13 Bankruptcy Attorneys
May 2, 2011 By
Individuals in need of Chapter 13 bankruptcy protection often begin searching for a law firm on the internet, a confusing endeavor at best thanks to the troubled economy because the demand for bankruptcy lawyers has increased faster than the supply of knowledgeable and experienced practitioners. How do we know this? Because we so often find ourselves unwinding the messes that … [Read more...]
Settle Debts or File for Chapter 13 Bankruptcy?
April 26, 2011 By
Most of our clients would like to pay all their creditors in full. Even if it takes a long time. The problem is that creditors aren't willing to wait as long as necessary to receive payment in full. This is where Chapter 13 bankruptcy comes in. Those who file for Chapter 13 protection will end up paying all or part of their debts in a court-approved and -monitored process. Consider the … [Read more...]
Student Loans and Bankruptcy’s Automatic Stay
April 15, 2011 By
This week the LA Times reported that 40% of student loan borrowers fall behind on payments or end up in default. The article goes on to discuss options for staying out of default. Student loan payments can usually be deferred when borrowers are unemployed or underemployed for up to two years. If the borrower goes back to school, payments can be postponed almost indefinitely. If the borrower … [Read more...]
Bankruptcy May Be the Only Way to ModifyYour Mortgage
March 30, 2011 By
This opinion piece by economist Paul Krugman about mortgage company shenanigans garnered 463 comments before the NYT closed the comment section. If you are trying to get your mortgage refinance or modified, you'll find plenty of company among the disgruntled commenters but not much in the way of advice. You need a bankruptcy attorney for that. Dr. Krugman endorses the Oscar-winning film … [Read more...]
Let’s Differentiate Between Business Failure and Personal Failure
March 25, 2011 By
We counsel a lot of business owners whose companies stumble and fall. Sometimes the business needs bankruptcy protection, sometimes the owners do, and sometimes both file for bankruptcy protection. This article from Harvard Business School, while written for larger businesses, some of which get venture capital, there are plenty of takeaways for mom and pops and the self-employed. Business … [Read more...]
Charlotte Bankruptcy and Mortgage Modification Options
March 17, 2011 By
Many of our bankruptcy clients who are homeowners have been in contact with their mortgage company in an effort to modify their mortgages and keep their home. Most of them are behind on their mortgage payments either because of a trial modification at a reduced monthly payment, or because they simply cannot timely pay their entire regular monthly payment. In either situation, after a bankruptcy … [Read more...]
Bankruptcy Protects Professional Athletes and Average Joes
March 8, 2011 By
This article in the NYT on professional athletes and money reminded to mention that the legal protection of bankruptcy is not only for those who have lost their jobs and are at risk of living on the streets. A budget with more zeros We have had some professional athlete clients over the years. In some ways, their problems are like everyone else’s, just more zeros, but in other ways, they can … [Read more...]
Bankruptcy Without an Attorney
March 4, 2011 By
Unfortunately for those in financial hardship, filing for bankruptcy protection isn't free. Too often, we counsel people who need bankruptcy protection who haven't saved the money for the court costs or attorney fees. And sometimes, we meet with new clients who may have been able to save a troubled business if they’d just gotten some legal advice earlier rather than later. This is usually … [Read more...]