Author Archives: doug

The Frightful Sound of Liquidation

By doug | Published: February 10, 2010

Debtors comtemplating a Chapter 7 bankruptcy filing are sometimes put off by the idea that the case involves a “liquidation” of their assets. Sometimes this occurs when they are given government required warnings by their attorneys, or by the trustee’s office at the meeting of creditors. Worried as they are by debt, they may conjure […]

Posted in Chapter 7 | Comments closed

Tax refunds in New Hampshire, redux

By doug | Published: February 9, 2010

The United States Bankruptcy Court for the District of New Hampshire has reinforced its viewpoint that in Chapter 13 cases, income tax refunds belong to the trustee, and not the debtors. The latest twist involves low income debtors who file Chapter 13 cases. Typically, they will file a plan to pay down their debts over […]

Posted in Chapter 13, Taxes | Comments closed

A Super Bowl Indicator for Bankruptcy Filings?

By doug | Published: February 8, 2010

Stock market pundits annually get a lot of fun out of the so-called Super Bowl indicator, which purports to forecast the direction of the markets by checking out the identity of the pigskin titleholder. Under a commonly used version of the indicator, whenever a team which was with the National Football League prior to its […]

Posted in Just for fun | Comments closed

Home price insurance program

By doug | Published: February 3, 2010

Would you be intersted in an insurance plan that would cover you if the price of your house went down? Northeastern University dean Barry Bluestone has come out in favor of an interesting type of proposed stimulus program to jumpstart the real estate market: he wants the federal government to sell insurance to home buyers […]

Posted in Bankruptcy News, Real estate | Comments closed

Liens and the Massachusetts homestead exemption

By doug | Published: February 2, 2010

Massachsetts homeowners are lucky enough to be protected by the Commonwealth’s generous homestead law, which typically will allow them to retain up to $500,000 in home equity even if their finances deteriorate to the point they have to file a Chapter 7 or Chapter 13 bankruptcy case. A question that frequently comes up in the […]

Posted in Chapter 7, Real estate, Secured loans | Comments closed

Credit card firm’s suit bounced from New Hampshire bankruptcy court

By doug | Published: February 1, 2010

When a consumer gets sued by a credit card company, the result is a forgone conclusion, right? Not so fast. The pleadings filed by big finance companies may fall short of what is required to bring a successful suit. The pleadings are often concocted by low level functionary’s in far flung locations, and may actually […]

Posted in Credit cards | Comments closed

Government mortgage relief program to finally get some traction?

By doug | Published: January 28, 2010

The Obama administration’s beleaguered mortgage relief program may finally be getting to the point where it may be of use to the typical homeowner. The program was launched in the spring of 2009, but has attracted less than 70,000 homeowners who have been able to complete the program so far. Part of the problem lies […]

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New Bankruptcy Court website for New Hampshire

By doug | Published: January 27, 2010

The Bankruptcy Court in Manchester, N.H. has just rolled out a new look for its main website. A quick glance shows a sleek design that is easy to navigate. Court websites have to serve a diverse audience that includes debtors, potential pro se filers, attorneys who want to file a case right now (even if […]

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Will Scott Brown help you get a loan modification on your mortgage?

By doug | Published: January 26, 2010

The surprise election of Scott Brown to the open Senate seat in Massachusetts certainly has set the political commentators abuzz. Most debate and analysis has focused on what Brown’s election may mean for the administration’s hopes for health care legislation. What has received no attention at all — at least that I’m aware of — […]

Posted in Chapter 13, The Bankruptcy Code | Comments closed

Credit card holders: some good news on the horizon

By doug | Published: January 25, 2010

With February just around the corner, credit card users can finally look forward to the benefits of the new federal credit rules passed last summer. The changes include prohibitions or limits on a number of card issuer billing practices that are unfair or that difficult to understand even if disclosed: (1) universal cross-default; (2) any-time, […]