Recent News
What Happens to My Dog if I File for Chapter 7 Bankruptcy?
"Generally, you are not going to lose your dog during your bankruptcy filing. This is because the bankruptcy code allows you to exempt household goods and other items up to a certain dollar value. .... " for the full blog post by Bankruptcy Attorney Drew Broaddus,...
Frank Backs Mortgage Cram-Down in Finance Reform Bill
Dec. 8 (Bloomberg) -- The mortgage “cram-down” bill that stalled in Congress earlier this year will be attached to broader legislation and voted on this week, House Financial Services Committee Chairman Barney Frank said. Frank, a Massachusetts Democrat, said today he...
Ever Wonder How the US Obtains Money To Operate The Government?
Here's how ! , Courtesy of the Washington Post: "The boiler room of the ship of state is a sterile chamber on the ninth floor of an unremarkable office building in downtown Washington. Half a dozen staffers sit at computer monitors, staring at incoming data. A voice...
Bankruptcy Filings up 100 Percent from 2007: Americans Financially Unable to Meet Current Debt Payments. 85 Percent of Chapter 7 Filings are Classified as No-Assets
From mybudget360.com: The U.S. Courts released data last week closing out the 2009 fiscal year. In the release we find that bankruptcy filings are up 100+ percent from 2007. No other economic vehicle shows deeper signs of financial strain than bankruptcy. ...
Why Short Sales Usually Are a Bad Idea
A very timely topic in this blog post by Maryland Bankruptcy Attorney Brett Weiss. I have had an epidemic recently of realtors contacting the office desiring to have short sales conducted of real estate owned by my clients that are in bankruptcy. Typically, these...
Medical Bankruptcy Fairness Act of 2009
David Goch, of the Consumer Law League of America has a good status update on the Medical Bankruptcy Fairness Act of 2009. This proposed law will likely make it easier for folks with large amounts of medical debt to get help through filing bankruptcy. A recent study...