They are already on the way. Or they’ll be here soon. Now here comes the hard part of the holiday season — paying the bills. New Mexico bankruptcy attorney Gini Nelson has put up a nice post about how wanting a time out from everyday life during the holiday rush can cause trouble down the […]
Author Archives: doug
Foreclosure crisis spreads to Massachusetts suburbs, small towns
Rural and suburban Massachusetts is not immune to the ongoing foreclosure crisis. That’s the message of an excellent Boston Globe article today. The piece emphasizes how people in small towns such as Asburnham in Central Mass. have struggled, especially with layoffs peaking. Globe writer Jenifer McKim chronicles the Law family in Ashburnham, where husband Brian […]
Posted in Foreclosure
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Extra benefit from new Massachusetts bankruptcy exemption law
Massachusetts legislators recently increased the bankruptcy exemption for automobiles, but the new law doesn’t stop there. The new law, signed by the governor last week, and slated to take effect in early April, also allows debtors who use the Massachusetts bankruptcy exemptions to keep up to $2,500 in a savings or checking bank account when […]
Posted in Exemptions
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Law boosting Massachusetts auto exemption will take effect in April
Governor Deval Patrick has now signed into law a long awaited provision increasing the automobile exemption that Massachusetts debtors can claim when filing for bankruptcy. Under the new law, Massachusetts debtors can keep automobiles in which they have up to $7, 500 in equity when they file a bankruptcy case. This is an increase from […]
Posted in Exemptions
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Changes in store for Massachusetts bankruptcy exemptions
It’s not a done deal yet, but there are possible changes coming down the pike for Massachusetts debtors in the form of updated bankruptcy exemptions under state law. The most important of the changes raises the exemption allowed for equity in an automobile from a measly $700 to a more modern level of $7,500. For […]
Posted in Exemptions
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Two takes on bankruptcy as a new year resolution
It will never be a popular a losing weight, but filing for personal bankruptcy (and otherwise getting one’s financial house in order) is often a popular resolution at the start of the New Year. Here are a couple of different takes on the idea of a resolution. First, California attorney Cathy Moran offers up the […]
Posted in Practical tips
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Did you have a luxurious Christmas?
Did you have a luxurious Christmas? Before you laugh, you might want to consider the Bankruptcy Code definition of luxury purchases. That would be more than $550 for luxury goods or services incurred within 90 days of filing a bankruptcy case. Alternatively, it can include cash advances aggregating $825 or more within 70 days of […]
Posted in The Bankruptcy Code
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Bankruptcy battle for your tax refunds begins
The peaceful dawning of a new year belies a struggle about to begin amongst the various players in the bankruptcy system — the battle for your tax refund. In corner number one sits yours truly, a hard fighting bankruptcy attorney looking for new clients. What better way, says I, to spend your refund than to […]
Posted in Bankruptcy News
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Soon you will be able to literally file bankruptcy today . . .
Since 2005, debtors have been required to take a short credit counseling session before they file bankruptcy cases. Not taking the counseling session is grounds for having a bankruptcy case thrown out of court . . . not a good outcome, considering it costs $299 just to file, and having a dismissed case locks you […]
Posted in Bankruptcy News, Practical tips
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Important changes to the Massachusetts Homestead exemption
We briefly interrupt your holiday preparations for breaking news — Massachusetts governor Deval Patrick has signed into law some of the biggest changes in the Massachusetts homestead exemption in many a year. When the new law takes effect in mid-March of 2011, it will no longer be necessary for every homeowner contemplating a bankruptcy case […]
Posted in Bankruptcy News, Exemptions, Real estate
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