Each state has different laws on what is recognized as exempt property, that is, property that is out of the reach of creditors (including bankruptcy trustees). Further, there are federal exemptions. We wrote about this extensively and you may find it helpful reading.Here's the kind of question that occasionally comes up when we counsel a married couple about bankruptcy.Q: The exempt … [Read more...]
University of Miami Football Players Could Face Clawback Powers of the Bankruptcy Trustee
August 29, 2011 By
Sports fans familiar with some University of Miami football players' affiliation with Nevin Shapiro, a convicted Ponzi schemer who reportedly lavished them with gifts, may not realize that those same players may find themselves facing Shapiro's bankruptcy trustee. "Certainly, we have reviewed the various reports regarding certain athletes receiving, cash, gifts, and other benefits from Mr. … [Read more...]
Charlotte Chapter 13 Bankruptcy Lawyers
June 16, 2011 By
You probably landed on this page after a search engine brought our firm to your attention. Most people begin their search for a Chapter 13 bankruptcy lawyer in this exact way. Now you must narrow your search.When hiring a law firm or lawyer to represent you in the courts, we suggest that you ask prospective firms whether you will be dealing with a partner or an associate throughout your … [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...]
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...]
Don’t Try to Hide Your Assets in Bankruptcy
February 28, 2011 By
I recently ran across an article in the St. Petersburg Times involving a person in a Florida bankruptcy case who scheduled very few assets in his bankruptcy filing but conveniently forgot to tell his attorney about $35,850 in an account that he owned. A sharp-eyed Chapter 7 bankruptcy trustee discovered the account. This resulted in the guy losing his account and being convicted of a federal … [Read more...]
What to Look for in a Bankruptcy Attorney: Experience
August 25, 2010 By
Unfortunately, in this recession, bankruptcy and debtor/creditor relations is a growth industry, and as such there are some Johnny Come Latelys. The fact is, experience counts, and the cheapest bankruptcy attorneys in town are not the most experienced. When it comes to handling your financial concerns, you want experience.When we meet with new clients, we sometimes find out that they've … [Read more...]
Bankruptcy Trustee Basics
October 31, 2009 By
In addition to my private practice, I serve as a Chapter 7 Trustee for the United States Bankruptcy Court for the Western District of North Carolina. Few people know what this means and how this service helps my private practice clients, so here's a primer. What's a bankruptcy trustee? Chapter 7 Trustees (also known as panel trustees) are not government employees. Here in the Western District … [Read more...]