Start a Business NOW?

With so many people un- or under-employed it’s no wonder people who have always wanted to work for themselves are considering doing so now.  As bankruptcy lawyers, my partner and I perhaps have a skewed view of the landscape so here’s a good list of questions to ask yourself before venturing out, courtesy of Inc. [...]

Student Loans and Bankruptcy

On April 15 of this year The Private Student Loan Bankruptcy Fairness Act of 2010 was introduced to the House of Representatives calling for certain student loans to be eligible for discharge under bankruptcy. Time will tell whether the Act becomes law; if it does, it is likely to undergo substantial revisions prior to passage. [...]

Creditor Protection Without Bankruptcy

With so many people unwinding unprofitable businesses and adjusting their lifestyles after financial hardship, many are confused about assets a creditor can seize and if bankruptcy is the only way to protect themselves from the proverbial wolves at the door. While we offer general information here, it is not comprehensive and not intended as legal [...]

Can a Creditor Take My 401k?

Although creditors have been known to claim that they can liquidate everything including the clothes on your back to settle your debts, each state provides guidance on what assets are safe from creditors. These are termed “exempt property.” So what about life insurance and retirement plans? Are they at risk if a creditor takes you [...]

Primer for Distressed Homeowners: Part 2 of 3

In our first post of this series we covered the foreclosure process and defined some basic real estate terms related to distressed sales. In this article we cover questions and answers on preventing foreclosure, negotiating with a mortgage company, and what to do about an adjustable rate mortgage that will soon reset. Q: Can I [...]

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.

Asset Protection Basics

Many people want to come in and talk about asset protection are surprised to learn that they have no assets to protect. “How can this be? “I own a car and a house!” Asset protection comes in to play if you own non-exempt property — property that creditors can reach; or if you anticipate that [...]