Recent Blog Entries

Executory contracts and unexpired leases.

by admin | Tue, 08/31/2010 - 08:22

The bankruptcy petition includes a section for executory contracts and unexpired leases. I have been asked by several debtors what is an executory contract and unexpired lease? The simple answer is that an executory contract is an agreement between two parties where neither party has fulfilled its obligations under the contract. An unexpired lease is an example of an executory contract. Although the obvious items are vehicle and apartment leases, any existing contract or lease must be listed.

Mixed messages regarding 'time to pay'?

by admin | Tue, 08/31/2010 - 04:35

HMRC is currently 'considering the release of statistics for Time to Pay (TTP)'. Whilst the review is ongoing it is unable to provide statistical information for the Business Payment Support Service which operates all TTP arrangements.

Welcome to New York; the Bankruptcy Court is Below the Museum

by admin | Mon, 08/30/2010 - 12:26

While most of the recent focus in the reorganization area has been on a handful of “mega” cases that played key and controversial roles in the financial crisis, the bankruptcy court in Manhattan has quietly become the international center for...

How to Steer Clear of Car Loan Scams

by admin | Mon, 08/30/2010 - 10:59

As consumers continue to struggle under the weight of a lagging economy, many Americans are trying to refinance their car loans.
Unfortunately, scammers have taken notice and are increasingly trying to bilk people of their hard earned cash. According to Rosemary Shahan, the president of Consumers for Auto Reliability and Safety, car loan scams are a “problem just about everywhere.”

New rule would refund some mortgage fees

by admin | Sun, 08/29/2010 - 19:00

The Fed may give consumers the right to cancel mortgage applications and get fee refunds.

Put brakes on mortgage accelerator offers

by admin | Sun, 08/29/2010 - 19:00

Mortgage accelerator plans promise free you from loan payments. But are they worth the effort?

Use savings in CDs to pay off house?

by admin | Sun, 08/29/2010 - 19:00

Depleting a savings account to pay off a mortgage could leave you vulnerable in an emergency.

Turn your home into an eco-chamber

by admin | Sun, 08/29/2010 - 19:00

Home values are soft, but a green house cuts utility bills and can boost resale value. Find out how.

Before Bankruptcy: Do You Need to Change Banks?

by admin | Sun, 08/29/2010 - 15:17



As a Virginia Bankruptcy lawyer, I often tell my clients to “change banks.” Why?