Author Archives: doug

If you’re considering bankruptcy, focus on the positives

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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Should bankrupt debtors be allowed to save money?

Should people be encouraged to start saving money after they have filed a bankruptcy case? Sounds like a no-brainer right? Unfortunately, Chapter 13 of the bankruptcy code does not just discourage saving, but may actually prohibit it. At issue is one line in Chapter 13 that requires debtors who file under that chapter (usually homeowners […]

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Joint bankruptcy for couples headed for splitsville?

Imagine you’ve been thinking of filing for bankruptcy (as well as a divorce). You’re living in a house in North Andover, but your spouse has just moved out an got an apartment in Methuen. More bad news for you right, if you have to pay for two bankruptcies instead of one? Perhaps, but not necessarily. […]

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Baseball and bankruptcy redux: Dodger blue bleeding red ink

Less than a year after the Texas Rangers successfully emerged from Chapter 11 bankruptcy protection, major league baseball has another bankrupt team on its hands. This time it’s one of American sports’ most storied teams, the Los Angeles Dodgers, who filed for bankruptcy protection yesterday. The Dodgers’ bankruptcy petition listed former Boston slugger Manny Ramirez […]

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Trustee roulette in consumer bankruptcy cases

When you file a Chapter 7 bankruptcy case in either Massachusetts or New Hampshire, at the moment of filing you have no idea who the bankruptcy trustee that will be handling your case will be. Welcome to trustee roulette! Different trustees have different practices, attitudes, and inclinations. All of which can affect cases in subtle […]

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How many bites can a creditor take out of a bankrupt consumer?

Bankruptcy lawyer Wendell Sherk recently wrote a nice article about what he called the “one-bite rule” in bankruptcy. Simply put, this is not a real rule, but the notion that creditors can get away with a little bit of harassment even after a bankruptcy case is filed — one last bite of the apple, so […]

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Some still think consumer bankruptcies are bad for consumers

Last week I wrote about how an article in Forbes magazine was spreading mis-information about how bad consumer bankruptcy was. Not surprisingly, the article (by tax attorney Stephen Dunn), garnered more attention. Some leading consumer bankruptcy attorneys got Forbes to publish their rebuttal (in the on-line magazine, but not in the print version). Lead writer […]

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Borders’ bankruptcy nearing the end?

There are signs that the bankruptcy of the Borders bookstore chain may be over quickly. Borders has asked the bankruptcy court to approve a July 19th auction of the company, according to Bloomberg News. They would then like the sale completed by July 29th, just about wrapping up their trip through the bankruptcy process. One […]

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Signing a bankruptcy petition, redux

If you started plucking people off the street and asking them at random what the process of filing for bankruptcy involved, you would find that most people imagine in their head a sort-of real estate closing gone berserk — piles and piles of legalese being shoved at them for the old John Hancock. They would […]

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Couple driven to bankruptcy by snake infested house

Most people don’t just wake up one morning and decide to file a bankruptcy case; there is always some particular catalyst that makes bankruptcy a possible option. I talk to a lot of people who are thinking about it, and a common reason for example is “I lost my job.” There’s a couple in Idaho, […]

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