Monthly Archives: November 2011

Catholic church to purchase bankrupt Crystal Cathedral

By doug | Published: November 28, 2011

The Roman Catholic diocese serving Orange County in Southern California has been awarded the winning bid in the bankruptcy sale of Rev. Robert Schuller’s iconic Crystal Cathedral in Garden Grove, Calif. The Crystal Cathedral has been in bankruptcy proceedings since 2010 due to a dramatic dropoff in contributions. The church is known for its Hour […]

Posted in Bankruptcy News | Comments closed

Massachusetts foreclosures rise before holidays

By doug | Published: November 23, 2011

It can’t be very much fun to contemplate losing one’s home at the start of the holiday season. Nevertheless, the Boston Globe is reporting that Massachusetts home foreclosures rose a whopping 35% in October. That figure represents homes actually seized; foreclosure petitions, which track homes that banks intend to foreclose on in the near future, […]

Posted in Bankruptcy News, Foreclosure | Comments closed

Do underwater mortgage liens survive Chapter 7 bankruptcy?

By doug | Published: November 22, 2011

Here is a good simple explanation from well – known bankruptcy attorney Cathy Moran on the status of underwater liens after a Chapter 7 case is filed: http://www.bankruptcymastery.com/how-long-can-underwater-lien-hold-its-breathe/ As she explains, the lien itself is still on the books after you file a bankruptcy case. Debtors may need to take additional action to deal with […]

Posted in Real estate, Secured loans | Comments closed

Chapter 7 eligibility changes for Massachusetts residents

By doug | Published: November 21, 2011

Starting with cases filed in May 2012, the Chapter 7 “means test” eligibility figures have changed slightly for residents of Massachusetts considering bankruptcy. The new thresholds for annual family income are: Family size = 1, threshold is now $55,185; Family size = 2, threshold is now $66,200; Family size = 3, threshold is now $82,873; […]

Posted in Bankruptcy News, Chapter 7, Means Test | Comments closed

Check out the Festival of Trees!

By doug | Published: November 18, 2011

Anyone looking for some family-friendly Christmas entertainment might want to check out the annual Festival of Trees in Methuen. At $8 per person, it sounds like an inexpensive way to get in the Christmas spirit. Children under 12 are free. The festival runs through December 3rd. Proceeds go to historic preservation projects in the Merrimack […]

Posted in Just for fun | Comments closed

Still no more rulings on whether Zillow is useful in bankruptcy court

By doug | Published: November 16, 2011

Its been almost another year that has gone by, and bankruptcy lawyers still have no better clue as to whether Zillow property estimates can be used in bankruptcy court. Zillow.com is an Internet venture that follows the real estate market nationwide. There are property listings on the site, but there are also property valuation estimates […]

Posted in Real estate | Comments closed

Banned from filing bankruptcy in Massachusetts?

By doug | Published: November 9, 2011

Could you be banned from even filing a bankruptcy case in Massachusetts? Indeed you could be, and a married couple whose Chapter 13 case was before bankruptcy judge Melvin Hoffman recently was. The case is In re Durham. At issue was section 109 (g) (2) of the bankruptcy code, which prohibits a debtor from filing […]

Posted in The Bankruptcy Code | Comments closed

Daddy’s Junky Music now in bankruptcy — what you can do

By doug | Published: November 4, 2011

The Lawrence Eagle Tribune has reported that a bankruptcy filing by the shuttered Daddy’s Junky Music Store chain is imminent. If a bankruptcy case is indeed filed, many of the stores former customers may be in a panic, not knowing how to deal with the filing. Many customers still have unused gift certificates, goods on […]

Posted in Bankruptcy News | Comments closed

Going up, up, up: Fees for filing bankruptcy are rising

By doug | Published: November 2, 2011

It is sort of a kick in the pants to those who are struggling with their bills, but the cost of filing a consumer bankruptcy case just went up by $7.00, effective November 1, 2011. Now it will cost $306 to file a Chapter 7 case, and $281 to file a Chapter 13 case. A […]

Posted in Bankruptcy News | Comments closed
Call now: (978) 975 - 2608