12 Sep 2010

Full Disclosure Required When You File Chapter 7 Bankruptcy

Some people say that famous people can get away with anything. This article shows that this is not true. One of the New Jersey housewives (ironically, one who I actually ran into while visiting the Borgata Hotel this summer in Atlantic City!), recently filed Chapter 7 Bankruptcy recently, and what follows is an article written […]

12 Sep 2010

Personal Bankruptcy Filings

Consumer debt is consistent with bankruptcy filings. Research by the Federal Reserve indicates that household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented level of debt might pose a risk to the financial health of American households. A high level of indebtedness among households could lead […]

15 Aug 2010

Chapter 7 Bankruptcy – The Process

Hi folks.  Most people who need to file Chapter 7 Bankruptcy in Maryland have heard of it, and no a little bit about it, but don’t know how it works.   Well, here it is, the process, which is pretty much the same in every case. Once you decide that you want to file Chapter 7 […]

15 Aug 2010

Drowning in Debt – Bad………Bankruptcy – Good

Hey folks.  I’ve decided that my goal in life (well, at least in my professional life as it pertains to my bankruptcy law practice), is to make the word “bankruptcy” a “good” word, rather than a “bad” word.  “Bad” words can never be good.   Illness, discrimination, death, taxes………those are never good words, they are always […]

15 Jul 2010

Rebuilding Credit During and After Bankruptcy

Maryland Bankruptcy Lawyers have a “list-serve” where we post questions and answers to bankruptcy questions in order to help each other out.  Although I have alot of experience handling Chapter 7 and Chapter 13 consumer bankruptcy cases, I continually learn and keep up to date by reading the list serve questions and answers each day. […]

12 Jul 2010

Summer Vacations and Bankruptcy

This weekend I was in Ocean City, Maryland with my family.   Everywhere I went, restaurants were packed, stores were mobbed and hotels had “no-vacancy” signs.  And as a personal bankruptcy attorney, I couldn’t help but notice that nearly everyone was using their high interest credit cards to pay for their consumer goods and services.  This, […]

03 Jul 2010

Personal Bankruptcy Filings Through June, 2010

CONSUMER BANKRUPTCY FILINGS UP 14 PERCENT THROUGH FIRST HALF OF 2010 July 2, 2010 Alexandria, Va. — U.S. consumer bankruptcy filings totaled 770,117 nationwide during the first six months of 2010 (Jan. 1-June 30), a 14 percent increase over the 675,351 total consumer filings during the same period a year ago, according to the American […]

03 Jul 2010

Bankruptcy Statistics for May, 2010

National Bankruptcy Research Center May 2010 Bankruptcy Filings Report Bankruptcy filings in May 2010 fell slightly to 137,000 (from 145,000 in April). Because April and May filings usually are at about the same level, this suggests that bankruptcy filings were essentially constant through May, with perhaps a slight decline. Still, filings for 2010 to date […]

20 Jun 2010

Why do we call bankruptcy Chapter 7?

Very few people know why the type of personal bankruptcy that eliminates a persons debts is called CHAPTER 7.  Well, here’s the answer.  There is huge volume of books that contain all of the laws that our Federal Government passes.  Those books are called the United States Code.   That Code has TITLES, and within those […]

20 Jun 2010

What is Personal Bankruptcy Discharge?

What is a bankruptcy discharge? The typical consumer files a bankruptcy case in order to obtain a “discharge” of overwhelming debt. An unfortunate word that is used to describe what for many is a life changing “event”. Why? When a debt is “discharged”, the obligation of the debtor to pay it, no longer exists. The […]