In this continuing declining economy, our office is approached frequently by the small business owner. The owners of America’s small businesses are under the same ‘big’ company financial pressures. Oftentimes the pressure for the small businessman is higher, if that can be believed, due to the nature of the small business. A large corporation has a fiduciary duty to it’s investors, but in the end, if the big corporation fails, the investors lose, not the principals of the big corporation. At least, not unless they are heavily invested in the failing concern.

Written by Craig D.

Anyone who has been thinking of filing a bankruptcy case has seen that law firms who file bankruptcy cases call themselves “Debt Relief Agencies”.  This isn’t an accident.
This is Congress’ way of trying to protect you.  Now, don’t you feel much better?  I thought so.
According to the Bankruptcy Code, a Debt Relief Agency is, with [...]

White, Brent T., Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis (December 7, 2009). Arizona Legal Studies Discussion Paper No 09-35.

NACBA is sponsoring an email campaign in support of allowing loan modifications in Ch. 13. Currently, this option is being blocked by special interests, when in reality, the option will help keep American families in their homes. Please support our efforts by clicking on the following link and participating in the legislative effort to make this change!
CLICK HERE TO VOICE YOUR SUPPORT FOR LOAN MODIFICATIONS IN CHAPTER 13

You may remember from an earlier post that you are probably an “assisted person”.  Another of our posts explained to you that your bankruptcy lawyer seems to be a “Debt Relief Agency”.
What do “Debt Relief Agencies” do for “assisted persons”.  It seems that Congress thinks that they give “bankruptcy assistance”.
Here’s what the Bankruptcy Code says:
The [...]

Well, if you are a banker, they are great! Consider though, that paying minimum payments and being satisfied with that staus quo, is precisely where the banks want you to be, stuck. Stuck, and stuck good. Take a look at the following figures, you may find them surprising. I find them SHOCKING!

One of the more punitive sanctions foisted upon debtors under the new bankruptcy law, is the restriction upon discharge in subsequently filed cases. Under the old law, a debtor was only entitled to a Ch. 7 bankruptcy discharge, once every 6 years. There were no other ‘bright line’ restrictions regarding repeat filings between other chapters.

Do you worry about who will know that you decided to file bankruptcy? Even though bankruptcy doesn’t carry the same negative connotation it used to, some people still worry that their friends and coworkers will find out.
The good news is, that except for a select few,only the people you choose to tell will likely ever know.

Real Lawyers, Real Solutions