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Bankruptcy Law Network
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Real Lawyers, Real Solutions
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Toyota Owners Filing Bankruptcy Be Aware
Own a Toyota? Are you filing bankruptcy or in a bankruptcy case already? You should talk to your lawyer about the Toyota recalls.
You may have a claim against Toyota for defects in your product (or, worse, some physical injury you suffered). There are already class action lawsuits on file related to these issues that you [...]
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Why the “Lost Note Defense” Doesn’t Work That Well in Maryland
A number of clients facing foreclosure have asked me whether I could use the “lost note defense” to help them save their homes. They’d read about how successful it had been in states like Ohio and Florida, and wondered about whether it could help them here in Maryland. Sadly, the answer is that normally it [...]
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Bankruptcy and your emotions
For many people, the decision to file a personal bankruptcy case is deeply emotional. It’s not just a business decision. People think that filing bankruptcy is a personal reflection on themselves. All too many clients start to feel badly about themselves when considering bankruptcy. Financial distress sometimes leads to undesirable behavior. People may turn to [...]
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Means Test: Court Allows Case Filing to be “Timed” for Lower Income
Choosing the “correct” date upon which to file a chapter 7 or chapter 13 bankruptcy case can be important to either pass the means test, or to avoid having to take the means test altogether. Since the passage by Congress of the 2005 Bankruptcy Reform Act, debtors have been aware that the proper timing of the filing [...]
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Employer’s Bankruptcy Could Hurt Your 401(k) Plan
If your employer goes into bankruptcy, there are a couple ways it could hurt your defined contribution plan (like a 401(k)).
One simple way is obvious: If you owned the company’s stock in your 401(k), there’s a good chance it’ll be valueless in the long run. It’s easy to accumulate employer stock if the employer matches [...]
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Bankruptcy and Divorce
Unfortunately filing for bankruptcy and filing for divorce often go hand in hand, but the news isn’t all bad. I believe that bankruptcy can help save some marriages by eliminating overwhelming debt, which is a a major source of stress that causes marriages to break up. Even in cases where divorce is eminent, bankruptcy can make the [...]
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Payday Loans: How to Borrow $300 and Owe $3000
If you’re filing bankruptcy, then chances are you may may have taken out a payday loan recently, according to a “Do Payday Loans Cause Bankruptcy?” by Paige Marta Skiba of Vanderbilt Law School and Jeremy Tobacman from the University of Pennsylvania.
In theory, I have no problem with the concept of payday loans. It’s nice to [...]
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Are you afraid of bankruptcy?
People tell me that they are afraid of filing for bankruptcy. Fear of the unknown is a reasonable emotion. I am afraid of the dentist. I’m afraid of the pain from the drilling. I am afraid that the shot will hurt. I am afraid that something will go wrong. Then again, I’m just as afraid [...]
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Fired Because of Bankruptcy Filing, Court Denies Relief
A Texas bankruptcy court ruled on December 30, 2009, that an employee who was fired after filing bankruptcy was not protected the bankruptcy code’s non-discrimination provision, 11 U.S.C. section 525(b). This section states as follows:
No private employer may terminate the employment of, or discriminate with respect to employment against, an individual who is or has [...]
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Filing bankruptcy without a lawyer brings double trouble
Representing yourself in a bankruptcy case has a non obvious downside: if the case develops problems, capable bankruptcy lawyers won’t step into a troubled case.
The judge in yesterday’s calendar was urging any number of individuals who represented themselves (in Chapter 11 cases, no less) to get a lawyer. He was candid with his expectation that [...]
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