Monthly Archives: April 2010

“Am I eligible for bankruptcy?” — means test information for New Hampshire residents

By doug | Published: April 26, 2010

Since 2005, debtors considering Chapter 7 bankruptcy are required to qualify, or pass a “means test” in order to have their debts discharged under the favorable laws found in this section of the Bankruptcy Code. Although debtors throughout the United States are required to submit the means test forms, the results may differ based on […]

Posted in Chapter 7, Practical tips | Comments closed

Credit card fees creeping back again

By doug | Published: April 25, 2010

Just when Congress put the damper on some of the most onerous fees credit card companies try to charge, — surprise — the companies are figuring out loopholes to get around the new laws. The new laws try to prevent companies from tacking on fees for payments by phone. But some credit card companies have […]

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“Am I eligible for bankruptcy?” — means test information for Massachusetts residents

By doug | Published: April 24, 2010

Since 2005, debtors considering Chapter 7 bankruptcy are required to qualify, or pass a “means test” in order to have their debts discharged under the favorable laws found in this section of the Bankruptcy Code. Although debtors throughout the United States are required to submit the means test forms, the results may differ based on […]

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When you have fourteen kids, it’s tough to pay the bills . . .

By doug | Published: April 23, 2010

Nadya Suleman, dubbed the “Octomom” by the tabloids, is facing foreclosure on her home in California. According to Texas attorney Reed Allmand, Suleman couldn’t pony up a $450,000 balloon payment on her mortgage which was due in March. Allmand thinks a bankruptcy filing might be in the Octomom’s future, as she apparently hasn’t handled money […]

Posted in Foreclosure, Just for fun | Comments closed

Foreclosure rates soar in Massachusetts

By doug | Published: April 23, 2010

Monthly figures released for March 2010 show the number of foreclosure cases in Massachusetts surging, rather than abating. Foreclosure petitions, filed at the start of the process while the owners are typically still using their property, increased 21.6% in March according to data compiled by the Warren Group and publicized in the Boston Globe. Foreclosure […]

Posted in Bankruptcy News, Foreclosure | Comments closed

Filing for bankruptcy in Massachusetts — an example of what not to do

By doug | Published: April 22, 2010

A recent decision by a Massachusetts bankruptcy judge highlights a textbook example of what not to do when filing a consumer bankruptcy case. The end result was a somewhat unusual and extreme order retroactively revoking a Chapter 7 debtor’s bankruptcy discharge. Judge William C. Hillman found that the debtor submitted multiple false statements when she […]

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How to file for bankruptcy — filing the case with the court

By doug | Published: April 21, 2010

After assembling your paperwork and then meeting with an attorney comes the day that most debtors are most eager to see arrive — the actual filing of the case with the United States Bankruptcy Court. The date of filing has a lot of significance for debtors, not the least of which is the start of […]

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Filing for bankruptcy — should you do it yourself?

By doug | Published: April 20, 2010

I always get a kick out of debtors who go on legal advice sites and ask attorneys whether they should handle their own bankruptcy case. We lawyers are all in the same union, so the answer is invariably some version of “NO” although the reasoning and justification may change between different attorneys. Still, bankruptcy debtors […]

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The fear of filing bankruptcy

By doug | Published: April 19, 2010

Most people are at least a little bit afraid of something they haven’t done before. That’s natural. If that something is going in to bankruptcy, no one should blame them for being somewhat apprehensive, even if it turns out there is no real reason to be. But consumers need to realize there are people out […]

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Don’t be afraid of your (bad) credit score!

By doug | Published: April 19, 2010

One of the biggest mistakes that people in financial trouble make is to be too focused on their credit score and how bad it is (or how bad it will be if they don’t settle with that collection agency right now). Years ago there were no credit scores. And then for a while there were, […]

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