Monthly Archives: July 2011

Presto, change-o! Converting a bankruptcy case

By doug | Published: July 12, 2011

When you file a bankruptcy case, the debtor must choose a particular chapter of the bankruptcy code (chapters 7, 11, 12 and 13 are the most common), and the rules of the chose chapter are then applied to the case. The initial choice of chapter is not forever binding, however. Indeed, debtors have a great […]

Posted in Chapter 13, Chapter 7, Practical tips | Comments closed

Bankruptcy court says MERS is alive and well and living in Massachusetts

By doug | Published: July 11, 2011

MERS is doing OK here in Massachusetts. Just in case you are not obsessed with the lingo of real-estate banking, MERS stands for Mortgage Electronic Registration Systems, Inc., a corporation whose sole business is filing mortgage documents at county registry of deeds nationwide. If you check your mortgage doen at the Northern Essex registry of […]

Posted in Bankruptcy News, Foreclosure | Comments closed

The different kinds of bankruptcy trustees

By doug | Published: July 8, 2011

Russell DeMott is a bankruptcy attorney in South Carolina, and he has posted a hilarious article on the internet outlining the differences between Chapter 7 bankruptcy trustees and Chapter 13 bankruptcy trustees. Attorney DeMott’s thesis is that Chapter 7 trustees act like voracious wolverines, chewing through all the debtors they come across in a desperate […]

Posted in Chapter 13, Chapter 7 | Comments closed

The first three questions at the bankruptcy meeting of creditors

By doug | Published: July 7, 2011

Many debtors are frightened the night before they have to attend the meeting of creditors in their bankruptcy case. (A few are frightened for months before, but that’s a story for another day). Most of this nervous energy is terribly misplaced. In the first place, “meeting of creditors” is usually a misnomer; “meeting with the […]

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Where to file your bankruptcy case

By doug | Published: July 6, 2011

It’s an old joke in the legal profession: A new lawyer armed with an expensive diploma still has find his way to the courthouse before he can start practicing any law. And if you are filing a bankruptcy case, you are in the same predicament. Bankruptcy cases are assigned to a division of the bankruptcy […]

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Super secret spontaneous mortgage relief?

By doug | Published: July 5, 2011

For several years now, the one thing the big banks have insisted on is that they are in no position to reduce the balances on underwater home mortgages. Now it turns out that some of them are in fact, very quietly doing just that. As reported by David Streitfeld in the New York Times and […]

Posted in Bankruptcy News, Foreclosure | Comments closed

If you’re considering bankruptcy, focus on the positives

By doug | Published: July 1, 2011

The folks at Filing Bankruptcy Now have a good message posted on their site: Focus your attention on positive action, despite your need to go through a bankruptcy case. Their main point is that “with all this bad news out there it’s hard to find the silver lining if you are one of these that […]

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