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    Breaking Down the Milavetz Decision Part 1: Debt Relief Agency = Bankruptcy Attorney?

    by John O'Connor on 3/21/10 | 0 Comment(s)

    Consumer Bankruptcy Attorneys Fall Under BACPA’s Definition of Debt Relief Agencies
    Bad legislation makes for bad jurisprudence. After all that has been said and written following Justice Satomayor’s recent incursion into the consumer bankruptcy world, perhaps this is the single most important lesson to be learned. BACPA may be a terrible piece of legislation, however, popular or Read more>>

    Is HARP The Solution To My Mortgage Modification Problems?

    by John O'Connor on 2/28/10 | 0 Comment(s)

    John C. Colwell has recently declared non-bankruptcy loan modifications a failure on this forum. Indeed, it is undeniable that federal programs such as The Home Affordable Modification Program (HAMP) have failed to relieve struggling homeowners of mortgage payments they simply cannot afford. The biggest company in the program, Bank of America, has completed modifications for Read more>>

    Robert Frost On Banks……..

    by John O'Connor on 1/22/10 | 0 Comment(s)

    “A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. ”
    Robert Frost
    Robert Frost is my favorite American poet. Carpe Diem and To a Thinker (scroll all the way down) are poems that have influenced me greatly. And so as I was reading Read more>>

    MTV Cribs, Your Bankruptcy Attorney and Schedule B

    by John O'Connor on 1/11/10 | 1 Comment(s)

    Full disclosure is the number one rule of bankruptcy. In fact, failure to disclose all of your property has the potential to jeapordize your discharge. It is important for consumers to understand that bankruptcy relief comes with a price (not talking about attorneys fees). In exchange for a fresh start, the debtor is expected to Read more>>

    Does Filing for Bankruptcy Allow Me to Walk Away From an Underwater Home?

    by John O'Connor on 1/10/10 | 1 Comment(s)

    In a word, yes. Filing for bankruptcy allows the opportunity to surrender cars and real estate with no continuing obligation. North Carolina hasn’t been as hard hit as other states in the current housing crisis, however, I still meet with clients all the time who owe more than their homes are worth and can’t find Read more>>

    What The Godfather Can Teach Us About the Morality of Filing For Bankruptcy

    by John O'Connor on 1/03/10 | 0 Comment(s)

    The decision to file for bankruptcy isn’t personal, “it’s strictly business.” Family comes first.
    Morality is of paramount  concern to many faced with the decision of whether to file for bankruptcy. Most who incur debt intend to pay it back, hence waving the “financial white flag” and meeting with a bankruptcy attorney can be difficult, it just Read more>>

    Is There a Connection Between the Grateful Dead and Chapter 13 Bankruptcy?

    by John O'Connor on 12/29/09 | 1 Comment(s)

    Amazingly, yes. Remember this line from Touch of Grey?
    “I know the rent is in arrears
    The dog has not been fed in years
    It’s even worse than it appears
    but it’s all right…….”
    Is it possible that the Dead were giving their audience a bit of legal advice? Perhaps suggesting chapter 13 bankruptcy as a way to “get out Read more>>

    Illinois Made The Right Call In Dismissing Complaint Against Kevin Chern, Total Attorneys

    by John O'Connor on 12/27/09 | 0 Comment(s)

    The Illinois Attorney Registration and Disciplinary Commission (ARDC) has closed its investigation of Total Attorneys and Kevin Chern with “no finding of wrongdoing.” In so doing, Illinois becomes the fourth state to drop a nationwide ethics complaint filed by a Connecticut attorney in 47 states against 500 participating attorneys. Hawaii and Alaska dismissed similar ethics charges, while Read more>>

    How Being Late On Your Phone Bill Can Spike Your Credit Card Interest Rate: The Universal Default

    by John O'Connor on 12/19/09 | 0 Comment(s)

    Credit card debt is a problem in America. Why? Really there are a host of reasons and certainly some of the responsibility falls on the shoulders of those who spend money they don’t have on things they don’t need. Having said that, I believe the heart of the problem is the usurious interest rates that Read more>>

    H.R. 4173: Can Our Court System Handle Modifying First Mortgages in Bankruptcy?

    by John O'Connor on 12/11/09 | 0 Comment(s)

    There are 94 federal judicial districts and approximately 300 Bankruptcy Judges to handle all filings and claims made in the Bankruptcy Courts. Bankruptcy Bars are small almost by definition, usually comprised of a fairly tight knit group of specialists. According to RealtyTrac, foreclosure filings surpassed 3 million in 2008, with a staggering 7% of the state Read more>>