Thankful For Bankruptcy

thankful for bankruptcy

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Sure, I am a bankruptcy lawyer, why would I not be We all should be, not just us insolvency professionals.. Why Thankful for Bankruptcy? Because, in short, bankruptcy is good for the economy. Because, starting over is a good thingContinue Reading

Home Bankruptcy Exemption In Michigan

If you file bankruptcy, you want to know if you can keep your home.  You want to know, what is the home bankruptcy exemption? Home Bankruptcy State Exemptions In Michigan Michigan has home exemption choices for folks who file bankruptcy here. Tenancy by entireties is available as one option. That is a fancy legal termContinue Reading

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

Zombie Debt Issues In Bankruptcy

This post is about zombie debt issues in bankruptcy. I have blogged about Zombie Student Loan Debt, and, other zombie debt.  Today, we examine zombie debt in bankruptcy. What Is Zombie Debt? Zombies never die.  Mostly.  And zombie debt never dies. Most state court lawsuits, at least here in Michigan, are filed by debt buyers,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

CFPB and Debt Collectors

Stop Debt Collector Abuse

Debt collector abuse is what drives people to the doors of bankruptcy lawyers like me. But, I am still AGAINST debt collector abuse. CFPB and Debt Collectors The Consumer Protection Finance Bureau (CPFB) has been around for a few years now, so far overcoming court challenges to the broad array of powers bestowed on itContinue 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