Monthly Archives: May 2012

Massachusetts bankruptcy court says vacation condo in Maine qualifies for homestead exemption

By doug | Published: May 24, 2012

Here’s a twist that you don’t see everyday in the bankruptcy courts: a Massachusetts couple who filed a bankruptcy case were allowed claim a homestead exemption to protect their vacation condo in York Beach, Maine. Massachusetts bankruptcy judge Melvin Hoffman ruled that the federal homestead exemption — found at 11 USC section 522 (d) (1) […]

Posted in Exemptions, Real estate | Comments closed

Kentucky Derby winner purchased by payday loan king

By doug | Published: May 11, 2012

Sometimes the bad guys win one. It happened recently at the 138th running of the Kentucky Derby in Louisville. I’ll Have Another (left), a strapping 3 year old colt trained in California cam barreling down the stretch to grab the lead and the victory in the $2M dollar race. He was ridden by a 25 […]

Posted in Bankruptcy News, Just for fun | Comments closed

What happens if you file for bankruptcy and no one wants their collateral back?

By doug | Published: May 4, 2012

When an individual files a Chapter 7 bankruptcy case, one of the decisions they have to make is whether they want to keep property that is collateral for a loan, or to give it back to the lender. The best example is an auto loan: a debtor filing bankruptcy can choose to keep paying the […]

Posted in Secured loans | Comments closed
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