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Has The Milavetz Decision Eviscerated The Earmarking Doctrine?

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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 [...]

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Bankruptcy Is Not Always The Answer

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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 [...]

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Is My Attorney Speaking English?

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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 [...]

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When Will a Bankruptcy Court Refuse to Confirm a Chapter 13 Plan?

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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 [...]

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Mortgage Companies Prepare For Major Wave Of Foreclosures In 2010

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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 [...]

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Can I File Bankruptcy on Payday or Check Advance Loans ?

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Many of our clients have debt with companies or businesses commonly called “payday” lenders or “check advance” loan companies.  These companies operate by loaning money to folks and holding a persons written check to help guarantee that you will pay them.  For example, if you borrow $500 from the company, when they give you the [...]

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