Monthly Archives: May 2011

New Massachusetts bankruptcy exemptions chugging along smoothly

By doug | Published: May 26, 2011

The new Massachusetts bankruptcy exemptions, which were introduced in early April, seem to have been accepted by the bankruptcy community without much fuss. I know I filed several cases using Massachusetts bankruptcy exemptions and have had no trouble at all — the cases flew right through the system. When the changes took effect, for the […]

Posted in Exemptions | Comments closed

The cardinal rule of personal bankruptcy — list it or lose it!

By doug | Published: May 25, 2011

Sometimes dealing with legal matters is like walking through a minefield of complexity — court opinions that don’t agree, statutory language that can’t be figured out even with a law degree, and all that legalese that applies as soon as you click “accept.” In the bankruptcy courts, however, there is one cardinal rule that is […]

Posted in Practical tips | Comments closed

Chapter 13 Tests

By doug | Published: May 24, 2011

Thinking about a Chapter 13 bankruptcy case? Before you can file a case under this chapter of the bankruptcy code, there are a number of “tests” a debtor must pass. Here’s a way to keep track of them all: Debt limits: Chapter 13 has upper debt limits, but no lower limits. The current upper limits […]

Posted in Chapter 13 | Comments closed

Bankruptcy and divorce: can the bankruptcy court step in and re-do your divorce settlement?

By doug | Published: May 23, 2011

Bankruptcy and divorce — those handmaidens of a whopping mid-life crisis — are serviced by competing court systems with competing and confusing rules and requirements. Here is a guide to (at least partially) untangling the mess. First, since 2005 there has been a notion in the bankruptcy courts of something called a “domestic support order,” […]

Posted in Chapter 13, Chapter 7, The Bankruptcy Code | Comments closed

If you are going bankrupt, why are you worried about your credit score?

By doug | Published: May 20, 2011

One of the most perplexing things a bankruptcy attorney can come across is clients (and potential clients) who are overly obsessed about their credit scores. With some folks, its almost as if the FICO score itself is some sort of IQ number, indicative of intelligence, self-worth, or some other positive attribute. If you are thinking […]

Posted in Credit cards, Practical tips | Comments closed

Massachusetts foreclosures up a bit; bankruptcies perhaps to follow?

By doug | Published: May 19, 2011

There has been an uptick in foreclosure petitions filed in Massachusetts recently, although it appears to have housing experts baffled as to what, if anything, that might mean. According to the Boston Globe, fourteen percent more foreclosure petitions were filed in April than in March. Foreclosure petitions signal the start of the foreclosure process, with […]

Posted in Bankruptcy News | Comments closed

No famous bankruptcies in Haverhill?

By doug | Published: May 18, 2011

For some blog posts, I was looking around for famous or important bankruptcy cases arising out of Haverhill, Mass. — and sort of came up empty! Lawrence and Methuen hit the news with the Malden Mills fire and that firm’s subsequent bankruptcy. The Andover and North Andover areas were bankruptcy central for a few years […]

Posted in Just for fun | Comments closed

Using credit cards for cabs?

By doug | Published: May 17, 2011

According to the Boston Globe, more than 1 of every 4 Boston taxi passengers now pays by credit card, an option that has made cabs more attractive to riders but provoked tension among drivers, passengers, and city regulators. What’s got the cab drivers riled up is the combination of fees that they are charged for […]

Posted in Credit cards | Comments closed

Lenny Dykstra charged with fraud in his bankruptcy case

By doug | Published: May 16, 2011

Last summer brought us an uplifting baseball related bankruptcy story, with the Texas Rangers sold in a bankruptcy court auction to a new group of owners who led the team to their first pennant winning season later that same year. This season the baseball connection to bankruptcy court is decidedly more of a downer, with […]

Posted in Bankruptcy News | Comments closed

Seven key facts about Chapter 7 bankruptcy

By doug | Published: May 12, 2011

Confused about the different “chapters” of the bankruptcy code? Here’s a very quick cheat sheet on Chapter 7, which is what the majority of people file. It’s a quick proceeding — by lawyer’s standards anyway — typically over and done in four months or less. If your family income is under the state average for […]

Posted in Chapter 7 | Comments closed
Call now: (978) 975 - 2608