Author Archives: doug

Benefits of Bankruptcy: How Bankruptcy can Help You

By doug | Published: October 25, 2011

Bankruptcy is often viewed as a very negative thing, even a punishment, by many people. It is true that filing for bankruptcy does have some disadvantages. At the same time, it also has a surprising number of benefits, which largely outweigh the disadvantage that go along with filing. Examples of the benefits to be gained […]

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A bankruptcy timeline for Massachusetts or New Hampshire debtors

By doug | Published: October 24, 2011

The Bankruptcy Process Follows a Typical Timeline: Questions about how the process works, what the steps are, and what the timeframes are tend to be very common. Don’t worry, I have compiled the following information to answer these questions and help you understand the basics. CREDIT COUNSELING BRIEFING: An individual cannot file Chapter 7 or […]

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Lien Stripping and cramdown

By doug | Published: October 21, 2011

Here’s a little primer on Lien Stripping and Cramdown by a Massachusetts bankruptcy lawyer who has done many of these cases. If you are a homeowner and wish to restructure your debt repayment under Chapter 13 bankruptcy it may be possible to have the court discharge the second mortgage on your home through a process […]

Posted in Chapter 13, Secured loans | Comments closed

Could mortgage modifications use a dose of bankruptcy court mediation?

By doug | Published: October 20, 2011

You are probably aware just how difficult it can be for a homeowner to get a mortgage modification when he or she needs one. Perhaps you have had a personal experince trying to get your mortgage modified, only to be told “no” after submitting reams of paperwork. Is it possible that a bankruptcy court mediation […]

Posted in Bankruptcy News, Foreclosure, Secured loans | Comments closed

The road back from bankruptcy, a case study: the Texas Rangers

By doug | Published: October 19, 2011

The World Series starts tonight in St. Louis, and it wouldn’t be right to let the occasion pass without noting the appearance of the Texas Rangers for the second year in a row. In June 2010, the team was in bankruptcy court. Later that summer, they were sold at auction to a group that included […]

Posted in Bankruptcy News, Just for fun | Comments closed

Some bankruptcy fees will be increasing on November 1st

By doug | Published: October 18, 2011

Some of the fees charged by the bankruptcy court will be increasing a bit on November 1, 2011. The basic fees for filing a consumer case are increasing by $7. These will be $306 for a chapter 7 case, and $281 for a chapter 13 case. Also starting in November, it will now cost you […]

Posted in The Bankruptcy Code | Comments closed

Bankruptcy court can help if your loan modification goes in to foreclosure anyway

By doug | Published: October 17, 2011

Homeowners who are successful and navigate the often arduous loan modification process are liable to “hit the roof” when they get a foreclosure notice anyway. Yet this bizarre scenario is probably more common than you would think. The Boston Globe just ran a front page article on how a Lawrence woman is suing Bank of […]

Posted in Foreclosure | Comments closed

Favorite things about being a bankruptcy lawyer

By doug | Published: October 14, 2011

As a bankruptcy lawyer in the Merrimack Valley, I can really say that I enjoy my job. So it was with interest that I read an article by Cathy Moran, who practices bankruptcy law with similar enthusiasm in the San Francisco bay area. Attorney Moran, a la Julie Andrews, listed her favorite things about the […]

Posted in Just for fun | Comments closed

Big trouble ensues over bankruptcy debtor’s failure to list his watch on his bankruptcy schedules

By doug | Published: October 11, 2011

File this under “what not to do” if you’re filing a consumer bankruptcy case: “Forget” to list your Rolex watch on the bankruptcy schedules. Brian Sullivan, a debtor from Maine, found this out the hard way recently when the First Circuit Court of Appeals denied his discharge. (In other words, he got nothing out of […]

Posted in Bankruptcy News, Exemptions, The Bankruptcy Code | Comments closed

Friendly’s files for bankruptcy, closes stores in Massachusetts, but not in Lawrence or Methuen

By doug | Published: October 7, 2011

The Friendly’s ice cream chain did indeed file for Chapter 11 bankruptcy protection this week, which was not a surprise, as the filing was widely expected. What was a surprise was that Friendly’s immediately closed thirty of their restaurants in Massachusetts upon filing. The Merrimack Valley was spared from the bankruptcy closures for the time […]

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