Category Archives: Bankruptcy

What Is Mortgage Arrearage?

Mortgage arrearage is the amount you are behind in your mortgage payments.  Not behind like in the picture, Behind as in missed payments, plus late fees, plus, well, some other things. Mortgage Arrearage Interest accrues on the unpaid balance of a loan, so if you cannot make your mortgage payment, the balance goes up, notContinue Reading

House and Bankruptcy

Your house and bankruptcy covers a lot of issues. A new client has one scenario:  has a house that is underwater (not ice yet, like the picture displayed) being worth less than what is owed on that house. So, they rent a different house for their residence. But, those tenants are not paying their rent.Continue Reading

A Day In The Life Of A Bankruptcy Attorney

Lots of complicated bankruptcy questions fell in my lap today. So, I thought I would recap some of my bankruptcy attorney highlights. Bankruptcy Attorney and the Trustee First up, a follow up to a question, from a year ago, from an out of Michigan attorney who is a creditor. Because the Chapter 7 bankruptcy debtor,Continue Reading

Bankruptcy Filings Going Up?

Bankruptcy filings follow, logically, consumer debt. When debt goes up, eventually, Bankruptcy Filings Go up. Is Consumer Debt Going Up? Uh, yup. Consumer borrowing picked up a bit in May from the prior month, but the pace of growth remained well below the surge seen in March, suggesting that consumers are still reluctant to run upContinue Reading

Lying Bankrupt Celebrities?

I have blogged about these two bankrupt celebrities before, and they are both back in the news, one for having his bankruptcy dismissed, and one for fighting a motion to re-open her bankruptcy case. Gary Dourdan Celebrity Bankruptcy From CSI Vegas, we start with Gary Dourdan, who filed a Chapter 11 bankruptcy last year. TheContinue Reading

Co-signing Debt And Bankruptcy

The thing about co-signing debt is, the co-signer always thinks, the signer will pay, I won’t get stuck. And the lender, the creditor with the money, always thinks the opposite.  They want the debt co-signed because they do NOT believe the borrower will pay. Co-signed Debt – What Really Happens? According to CreditCards.com, 38% ofContinue Reading

Is Filing Bankruptcy A Sin?

I met with some new bankruptcy clients yesterday, and, like nearly all of my bankruptcy clients, they feel bad. Horrible.  Their debt crisis is eating them up.  Obviously, they feel like, filing bankruptcy is a sin.  Or, that having debts they cannot pay is a sin. What Does the Bible Say About Debt? From theContinue Reading