A logical and commonsense reform bill for bankruptcy was proposed by Senators Elizabeth Warren (D-MA), Dick Durbin (D-IL), and Sheldon Whitehouse (D-RI) and Representatives Jerrold Nadler (D-NY) and David Cicilline (D-RI). If it should be considered and become law but I would be surprised since strong forces will be at play to gut it. And …
As a young man, I practiced law in a three-man law firm in Anchorage, Alaska. In the winter months, the firm occasionally experienced lean times when clients couldn’t pay their bills. But we three were young, optimistic, and confident. I remember one day during an especially lean winter month when our senior partner jokingly announced: …
In the past few months, the United States has experienced unprecedented job losses due to the Covid-19 pandemic. Stay at home or closure orders have shuttered businesses, raised the unemployment rate to higher levels than seen in the 2008-2009 recession and left many wondering how they are going to pay their bills. As Bloomberg reports, …
Jonathan Henes, a corporate attorney, wrote an op-ed essay for the Wall Stree Journal a few days ago calling for Congress to codify one-day bankruptcies for financially troubled corporations. “The one-day bankruptcy would streamline the bankruptcy practice,” Henes argued and would reduce business disruptions and legal expenses. Henes’s appeal in the Wall Stree Journal is …
It’s a common fear around filing for bankruptcy — that it means you’ll lose your house. While it’s true that can happen, it’s by no means a foregone conclusion. Here’s what you need to know about the impact of bankruptcy on your house. Whether you can keep your house or not will depend on a …
There is no doubt the impact of the coronavirus crisis is going to cause a large number of people to experience a financial death. But here is what might just hit home for many, especially those who fall for those who constantly say bankruptcy is wrong or the last resort. This is the sole reason …
Not all bankruptcy attorneys are created equal. That’s not shocking: After all, the same could be said about finding help in any profession that requires expertise and training. But there are some things I would encourage you to look out for when you’re interviewing a bankruptcy attorney. Having worked with people to resolve problem debt …
I don’t know whether Rhett Butler was a Catholic, but Catholics should adopt Rhett’s attitude about the rising tide of bankruptcies among America’s Catholic dioceses. Frankly, my dears, we should not give a damn. Nineteen Catholic dioceses have filed for bankruptcy in recent years, due to payouts forced on the Church by child-abuse victims, almost …
New Jersey bankruptcy attorney Edward Hanratty sent in the following guest post. It is an interesting approach to reducing mortgage debt using bankruptcy. This is an example of a bankruptcy client who thought there was a problem with her mortgage and property taxes, and she was right. After some litigation I sent her the following …
So you’ve declared bankruptcy at some point in the recent past and now you’re wondering when you can buy a new home? The simple answer to this question is, well, simple: Whenever you want. There aren’t any specific laws limiting your ability to buy a home at any point during or after the bankruptcy process. Whether you’ll …