Category archive for ‘Real life Stories’ 
Considering Filing Bankruptcy? Avoid these problems! Part 2
by Richard West on 7/21/10 | 0 Comment(s)
In part 2, we continue to examine ways to help ensure that you will be successful in avoiding problems in a bankruptcy that you may file. 8) Often I see people fail to list their business, LLC, S-Corp, etc. when they come in to see me for bankruptcy advice. If you own a business, or [...]
Health Care Reform Has Some Help For Small Businesses
by John C. Colwell on 7/20/10 | 0 Comment(s)
It was of particular interest to me, since my business likely qualifies for this tax credit. My office is comprised of 3 locations, with 4 attorneys and 6 support staff. According to this article, the tax credit will apply to business of 25 employees or less, along with other requirements. We happily provide Kaiser-Permanente health HMO to our employees, and it appears that our firm will enjoy a 35% deduction of our health care premiums by way of a tax credit this year, and each year, until 2014, when the tax credit is increased.
The incredible short sightedness of ending unemployment benefits.
by John C. Colwell on 6/29/10 | 0 Comment(s)
Just today, I received an inquiry from a gentleman who has been unemployed since 2008. He explained that his benefits had now just ended upon the failure of our ‘leaders’ in passing the much needed extension. He went on to explain that he was able to pay his credit card debt ‘alright’ up until the time the benefits were cutoff. Let me emphasize this, he was paying his credit card payments with his unemployment benefits!
Why You Should Never Give Up ! (A lesson from Harry Potter)
by John Rogers on 6/15/10 | 0 Comment(s)
When meeting with folks on a daily basis that face major struggles in their personal and financial life, I am always amazed by the courage and tenacity they show in facing up to these problems and not giving up. I never forget the will and effort it takes just for clients just to make the appointment [...]
Meeting the Bankruptcy Trustee
by Richard Stokan on 6/07/10 | 0 Comment(s)
After filing for bankruptcy protection, your first contact with the court will be at a meeting of the creditors, commonly called a 341 hearing after the section of the bankruptcy code. The hearing is an opportunity for the bankruptcy Trustee and any creditors who may be present, to question you regarding your petition. Although the [...]
Has The Milavetz Decision Eviscerated The Earmarking Doctrine?
by John O'Connor on 5/17/10 | 0 Comment(s)
In Milavetz, the Supreme Court held that bankruptcy attorneys are prohibited from advising clients to incur debt in contemplation of filing for bankruptcy. Justice Sotomayor’s vague attempt to limit the reach of this prohibition is less than helpful. “Advice to incur more debt because of bankruptcy, as prohibited by §526(a)(4), will generally consist of advice [...]
Bankruptcy Is Not Always The Answer
by John Rogers on 5/10/10 | 0 Comment(s)
I always caution folks before I meet with them that filing bankruptcy is not always the answer to their problems. I explain to them that we will discuss the facts of their situation and then I will share with them what I see as possible solutions to help them. If I see bankruptcy as one [...]
Is My Bankruptcy Attorney Speaking English?
by Moderator on 5/02/10 | 0 Comment(s)
I recently had breakfast with some colleagues, one of whom made an excellent point regarding client relations, which was namely to think of the client first. Speak English not legalese. Just as a doctor needn’t delve into the intracasies of your cardiovascular system in order to provide valuable information as to how you can lower [...]
When Will a Bankruptcy Court Refuse to Confirm a Chapter 13 Plan?
by Drew Broaddus on 4/23/10 | 1 Comment(s)
As discussed previously here, Chapter 13 Bankruptcy is referred to as a wage earner’s Plan. It enables individuals with regular income to develop a repayment plan for all or part of their debts. Under this chapter, debtors propose a plan to make installments to creditors over three or five years. If the debtor ’s current [...]
Mortgage Companies Prepare For Major Wave Of Foreclosures In 2010
by John C. Colwell on 4/15/10 | 0 Comment(s)
While the markets and the general press make positive extrapolations from the small upticks in corporate profits as a sign of economic recovery, the truth remains, it appears, that it’s the housing market that will ultimately drive whether the economic recovery succeeds or fails. It is clear that these times will pass, and that things [...]
