Author Archives: doug

Bankruptcy after personal injury

By doug | Published: April 29, 2011

If you are expecting (or at least hoping for) a settlement in a personal injury case from a car accident or a slip-and-fall, etc., it won’t always prevent you from filing a bankruptcy case, if you need to do that as well. The federal bankruptcy exemption list allows you to keep up to $15,000 in […]

Posted in Exemptions | Comments closed

Disability payments protected in bankruptcy

By doug | Published: April 26, 2011

If you are receiving — or expect to receive in the future, disability benefits, you are not prevented from filing a bankruptcy case. There are two common sources for disability payments, social security and private insurance companies. Both types are covered by federal bankruptcy exemptions. The right to receive social security payments is exempt under […]

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Massachusetts bankruptcy exemptions kind to animals

By doug | Published: April 25, 2011

After the holiday weekend, in a bit of a light mood, I thought I would take a look at some of the more obscure items on the list of Massachusetts bankruptcy exemptions. The Massachusetts exemption scheme is reasonably kind to small farmers, allowing them to keep post-bankruptcy, “two cows, 12 sheep, 2 swine and 4 […]

Posted in Exemptions, Just for fun | Comments closed

Bankrupt Blockbuster still may close more stores; Lawrence store open for now

By doug | Published: April 22, 2011

The bankruptcy court sale of the Blockbuster video store chain to satellite purveyor DISH TV is on temporary hold, so that the buyer can have some more time to decide what store leases it wishes to renew, and which ones it wants to abandon, according to wire service reports. Dish’s $320 million offer to buy […]

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Introducing the Massachusetts bankruptcy wild-card exemptions

By doug | Published: April 21, 2011

With the change in Massachusetts state law that went into effect earlier in April, Massachusetts residents have a few new arrows in their quiver if they need to go to bankruptcy court. One of the most important of these is that Massachusetts now has a “wild-card” exemption, just like federal law (and New Hampshire law, […]

Posted in Bankruptcy News, Exemptions | Comments closed

I filed for bankruptcy, now where’s my *?!*%$# mortgage statements

By doug | Published: April 20, 2011

Let’s imagine you own a home, but have just filed for bankruptcy because of astronomical credit card or medical debts that got out of control. But you were always sure to pay the mortgage first each month (a smart move, by the way) so you would be sure of a roof over your head. Now […]

Posted in Practical tips, Real estate | Comments closed

Orchestra to file for bankruptcy

By doug | Published: April 19, 2011

Last year, these pages adopted major league baseball’s Texas Rangers, who filed for bankruptcy in mid-summer and went on to win the American League pennant, as a tangible symbol that the bankruptcy process really represents a beginning, as well as an end. I think this year’s bankruptcy poster children will be the players of the […]

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Hidden benefits to filing for bankruptcy

By doug | Published: April 18, 2011

Not many people would file for personal bankruptcy unless it was advantageous to do so. As a matter of fact, one of the best reasons to talk to a bankruptcy attorney before you file is just that — to see if bankruptcy is in fact in your best interest. For most folks, especially those with […]

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Beware increased debt load six months prior to bankruptcy

By doug | Published: April 15, 2011

Significant increases in credit card debt within six months of a bankruptcy filing is often treated as a red flag by the bankruptcy trustees who are charged with policing the system. That does not mean that you cannot use a credit card for six months before you file. It means that large charges or a […]

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Banks ordered to pay for bad foreclosures

By doug | Published: April 14, 2011

The federal government has ordered sixteen large mortgage lenders, including the nations four biggest banks (Citibank, Chase, Wells Fargo, and Bank of America) to reimburse some homeowners who were improperly foreclosed upon since the recession began in 2007. The list also includes lenders active in the Lawrence, Haverhill, and southern New Hampshire markets such as […]

Posted in Foreclosure | Comments closed
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