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“Bankruptcy Petition Preparer” Slammed by New Mexico Court

by admin | Thu, 03/11/2010 - 02:55

A non-attorney “bankruptcy petition preparer” (BPP) was recently permantly enjoined by a New Mexico bankruptcy court from assisting any more debtors in preparing bankruptcy petitions.  This case, U.S. Trustee v. Brown, 2010 WL 519849 (Bky.D.N.M. Feb. 8, 2010), held that Pamela Brown, in the person of Southwest Bankruptcy Services, had violated section 110 of the bankruptcy code in nine separate cases.

Are you too embarrassed to file bankruptcy?

by admin | Wed, 03/10/2010 - 08:44

Our good clients often tell us that they are embarrassed by the thought of filing for bankruptcy. I tell them that they don’t have to be.

First of all, people fear that their names are going to be published in the newspaper. Now that might happen in small towns. But nothing’s secret in a small town anyway. In larger communities, you won’t see a publication.

Toyota Owners Filing Bankruptcy Be Aware

by admin | Tue, 03/09/2010 - 18:15

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 may be involved in, even if you don’t know it.

Why the “Lost Note Defense” Doesn’t Work That Well in Maryland

by admin | Tue, 03/09/2010 - 17:50

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 can’t. Why not? The answer lies in Maryland’s somewhat unusual method of conducting foreclosures, and the explanation is a bit technical.

Employer’s Bankruptcy Could Hurt Your 401(k) Plan

by admin | Mon, 03/08/2010 - 23:47

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 your investment with its own stock.