When you file a bankruptcy case, the debtor must choose a particular chapter of the bankruptcy code (chapters 7, 11, 12 and 13 are the most common), and the rules of the chose chapter are then applied to the case. The initial choice of chapter is not forever binding, however. Indeed, debtors have a great […]
Category Archives: Practical tips
The first three questions at the bankruptcy meeting of creditors
Many debtors are frightened the night before they have to attend the meeting of creditors in their bankruptcy case. (A few are frightened for months before, but that’s a story for another day). Most of this nervous energy is terribly misplaced. In the first place, “meeting of creditors” is usually a misnomer; “meeting with the […]
Where to file your bankruptcy case
It’s an old joke in the legal profession: A new lawyer armed with an expensive diploma still has find his way to the courthouse before he can start practicing any law. And if you are filing a bankruptcy case, you are in the same predicament. Bankruptcy cases are assigned to a division of the bankruptcy […]
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 […]
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. […]
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 […]
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 […]
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 […]
The cardinal rule of personal bankruptcy — list it or lose it!
Sometimes dealing with legal matters is like walking through a minefield of complexity — court opinions that don’t agree, statutory language that can’t be figured out even with a law degree, and all that legalese that applies as soon as you click “accept.” In the bankruptcy courts, however, there is one cardinal rule that is […]
If you are going bankrupt, why are you worried about your credit score?
One of the most perplexing things a bankruptcy attorney can come across is clients (and potential clients) who are overly obsessed about their credit scores. With some folks, its almost as if the FICO score itself is some sort of IQ number, indicative of intelligence, self-worth, or some other positive attribute. If you are thinking […]