Author Archives: doug

Wells Fargo not allowed to freeze bank accounts when a Chapter 7 case is filed

By doug | Published: July 6, 2010

An interesting case emanating from the western states involves a court clamping down on Wells Fargo for illegally violating the bankruptcy court’s automatic stay protections in many consumer Chapter 7 cases. A recent ruling from a bankruptcy appellate panel in the Ninth Circuit, which covers most of the West, found that Wells Fargo was obtaining […]

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The Supreme Court might help you out with the dreaded means test

By doug | Published: July 6, 2010

Just before adjourning for their summer recess last month, the United States Supreme Court issued its decision in another bankruptcy case on its docket — and this one might be of some benefit to consumer debtors down the line. In Hamilton v. Lanning, the Supremes took on issues concerning the dreaded “means test” that nearly […]

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On the fence? A few reasons to consider filing bankruptcy

By doug | Published: June 14, 2010

Have you been thinking about possibly filing a bankruptcy case to relieve financial pressures, but aren’t sure what the pros and cons are? Many of the cons are discussed in the various posts on this blog and you can search all the posts with the “search for info” box on the lower right of this […]

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Responsible lending and bankruptcy

By doug | Published: June 10, 2010

I heard a commentator on CNBC mention a “left-wing group” called the Center for Responsible Lending today (they were talking about financial reform legislation pending in Congress), so I decided to check them out. I wondered if this group had any opinions on bankruptcy, and I found this post from last year on their website: […]

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How long does a bankruptcy take?

By doug | Published: June 9, 2010

“How long does a bankruptcy take?” This seemingly innocuous question is asked of me several times a day, it seems. Although my clients may not realize it, it is actually several questions rolled in to one. The first is “how long will it be until I can get my bankruptcy case filed with the court?” […]

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Beware of phony foreclosure aid!

By doug | Published: June 8, 2010

A plethora of phony foreclosure aid and debt relief scams are everywhere it seems. And everywhere includes Massachusetts. Jenifer McKim reported in today’s Boston Globe that a watchdog group called NeighborWorks America has begun warning Massachusetts homeowners about the scams. “Loan modification scams are reaching epidemic proportions across the nation,’’ said Thomas J. Curry, a […]

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Be careful if you are an authorized user on a credit card (or married to one)!

By doug | Published: June 7, 2010

Are you aware of the differences between an authorized user of a credit card and a joint account holder? Texas attorneys Allmand & Lee have put together a great post explaining these differences in detail. For people considering a bankruptcy filing (especially married people), the differences can be crucial. A joint account holder is just […]

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You might not want to file for bankruptcy if you have a shiny new suit . . .

By doug | Published: June 4, 2010

Lawsuit, that is. You will be surprised when you get to your creditors meeting at what the trustees are interested in. Several of the questions you will be asked to answer may have to do with whether you have any lawsuits pending — or if you have any plans to file one. Why the primary […]

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Retirement accounts, 401(K)’s and how they are handled in a bankruptcy case

By doug | Published: June 3, 2010

Retirement savings accounts such as IRA’s, 401(K) accounts, and most private and government retirement plans have a special place in the bankruptcy code. In most instances, the balances in these accounts are fully protected, meaning that the consumer debtor can keep the entire account even after a bankruptcy filing. This is because of a Supreme […]

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Some facts and figures from the recent credit nightmare

By doug | Published: June 2, 2010

Here’s a quick rundown of some of the latest trends from the world of bankruptcy and debt, compiled by syndicated columnist Ylan Q. Mui of the Washington Post: The number of late payments on credit cards dropped to a six month low in March. Over $100 billion in credit card debt has been slashed in […]

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