Monthly Archives: October 2011

Salem, NH Music stores closes without filing for bankruptcy

By doug | Published: October 28, 2011

The Daddy’s Junkie Music Store in Salem, NH has closed its doors, along with the rest of the chain’s operation. So far, Daddy’s has not filed for bankruptcy. This marks the second time this week that a chain store operation has closed a store in the Merrimack Valley without also filing for bankruptcy. Daddy’s has […]

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Lowe’s closes Haverhill Big-box store without a bankruptcy filing

By doug | Published: October 27, 2011

Today brings the news that the Lowe’s home improvement store chain has closed it’s Haverhill store. What is a little unusual is that Lowe’s has not also filed a bankruptcy petition in association with the closing. In fact, the big-box chain is flush with cash. But that doesn’t mean there won’t be any personal bankruptcies […]

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Directions to bankruptcy hearings for clients from Lawrence, Methuen, Andover and Haverhill

By doug | Published: October 26, 2011

The meeting of creditors for bankruptcy debtors who live in Lawrence, Andover, North Andover, Methuen and Haverhill are held at 446 Main Street in Worcester, Massachusetts. Here are driving directions from the Merrimack Valley area: From the Lawrence area, take I-495 South to I-290; Take I-290 West to Exit 16 (MLK Jr Blvd) in Worcester; […]

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Benefits of Bankruptcy: How Bankruptcy can Help You

By doug | Published: October 25, 2011

Bankruptcy is often viewed as a very negative thing, even a punishment, by many people. It is true that filing for bankruptcy does have some disadvantages. At the same time, it also has a surprising number of benefits, which largely outweigh the disadvantage that go along with filing. Examples of the benefits to be gained […]

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A bankruptcy timeline for Massachusetts or New Hampshire debtors

By doug | Published: October 24, 2011

The Bankruptcy Process Follows a Typical Timeline: Questions about how the process works, what the steps are, and what the timeframes are tend to be very common. Don’t worry, I have compiled the following information to answer these questions and help you understand the basics. CREDIT COUNSELING BRIEFING: An individual cannot file Chapter 7 or […]

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Lien Stripping and cramdown

By doug | Published: October 21, 2011

Here’s a little primer on Lien Stripping and Cramdown by a Massachusetts bankruptcy lawyer who has done many of these cases. If you are a homeowner and wish to restructure your debt repayment under Chapter 13 bankruptcy it may be possible to have the court discharge the second mortgage on your home through a process […]

Posted in Chapter 13, Secured loans | Comments closed

Could mortgage modifications use a dose of bankruptcy court mediation?

By doug | Published: October 20, 2011

You are probably aware just how difficult it can be for a homeowner to get a mortgage modification when he or she needs one. Perhaps you have had a personal experince trying to get your mortgage modified, only to be told “no” after submitting reams of paperwork. Is it possible that a bankruptcy court mediation […]

Posted in Bankruptcy News, Foreclosure, Secured loans | Comments closed

The road back from bankruptcy, a case study: the Texas Rangers

By doug | Published: October 19, 2011

The World Series starts tonight in St. Louis, and it wouldn’t be right to let the occasion pass without noting the appearance of the Texas Rangers for the second year in a row. In June 2010, the team was in bankruptcy court. Later that summer, they were sold at auction to a group that included […]

Posted in Bankruptcy News, Just for fun | Comments closed

Some bankruptcy fees will be increasing on November 1st

By doug | Published: October 18, 2011

Some of the fees charged by the bankruptcy court will be increasing a bit on November 1, 2011. The basic fees for filing a consumer case are increasing by $7. These will be $306 for a chapter 7 case, and $281 for a chapter 13 case. Also starting in November, it will now cost you […]

Posted in The Bankruptcy Code | Comments closed

Bankruptcy court can help if your loan modification goes in to foreclosure anyway

By doug | Published: October 17, 2011

Homeowners who are successful and navigate the often arduous loan modification process are liable to “hit the roof” when they get a foreclosure notice anyway. Yet this bizarre scenario is probably more common than you would think. The Boston Globe just ran a front page article on how a Lawrence woman is suing Bank of […]

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