More Debt, More Debtor Harassment

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!More consumer debt always leads to more bankruptcy filings. Does more debt lead to more debtor harassment? The November data are in, and, yes, consumer debt, that month of big Christmas shopping, went way up. Having read the latest Consumer ProtectionContinue Reading

Bankruptcy and Interest Rate Increase

The Fed increased interest rates 25 basis points,   that is, .25%, and, the banks followed along. Lots of consumer credit is tied to “prime” rates set by banks. Which uniformly go up when the Fed raises its rate, which is why the Fed raises that rate. How Much Consumer Credit Is Tied To PrimeContinue Reading

Consumer Bankruptcy Updates

Bankruptcy news

Well, updating the last post, Teresa Giudice won the motion to approve the settlement splitting proceeds of her yet to conclude malpractice lawsuit against her bankruptcy attorney with her creditors. What’s the Bankruptcy News? Rowan & Martin’s Laugh In TV had a weekly sketch: “What’s the news?” so that is why I stuck the pictureContinue Reading

Thankful For Bankruptcy

thankful for bankruptcy

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 thing to be able to do when a business fails. Or a consumer. Walt Disney isContinue 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