Author Archives: doug

Debtors get the benefit of rising real estate values..or do they?

By doug | Published: February 25, 2014

When you own a home, file a bankruptcy case, and then watch real estate prices rise, who gets the benefit of the new-found value in the property? Traditionally, the rule has been the debtor benefits and gets to keep all the new equity that might accumulate after the date of filing, with the trustee and […]

Posted in Chapter 13, Real estate | Leave a comment

When Dad dies broke: too many elderly are suffering with debt

By doug | Published: February 17, 2014

An excellent article by Rob Azevedo just appeared in the Boston Globe’s North section where the author describes how his father struggled with debt into his senior years. Azevedo really hits the nail on the head: “But today, millions of seniors are drowning in debt, trying to heat their homes, pay for medications, eat some […]

Posted in Bankruptcy News | Comments closed

Are casino liens really hardball?

By doug | Published: February 11, 2014

Two front page articles in the Boston Globe in three days has put in the news this fact: Foxwoods and Mohegan Sun, the two massive Connecticut casinos which are now seeking the first gaming licenses ever issued in Massachusetts, have sometimes gotten liens on gambler’s Massachusetts homes for unpaid advances. First, the Sunday Globe “exposed” […]

Posted in Bankruptcy News, Secured loans | Comments closed

Massachusetts debtor discharges law school lawns in bankruptcy case

By doug | Published: February 7, 2014

Student loans are impossible to discharge in bankruptcy, right? So goes a lot of street wisdom, but take a look at what actually happened in court in Massachusetts in January, 2014. A disbarred lawyer with criminal convictions stemming from some wild incidents in his law practice (he was tossed from the bar after a mere […]

Posted in Student loans | Comments closed

Three bankruptcy cases in a year does not bode well for debtors

By doug | Published: February 4, 2014

In the world of bankruptcy, filing three Chapter 13 cases in a single year is not a sign things are going to turn out well for the debtor. And in the James case in the district of New Hampshire, it indeed did not go well. The basic problem is that by the time a debtor […]

Posted in Chapter 13 | Comments closed

Using Zillow in bankruptcy court still a standoff

By doug | Published: January 29, 2014

Since writing in the spring of 2013 that use of the Zillow.com real estate information service was starting to gain some traction in the nation’s bankruptcy courts, only three new opinions mentioning the term “Zillow” have been issued, all in August of 2013. First, some background: back in 2010, Melvin Hoffman, the bankruptcy judge for […]

Posted in Real estate | Comments closed

More options for debtors buried in private student loans?

By doug | Published: January 22, 2014

Getting out from under a load of privately held student loans is no easy trick, even in bankruptcy court. Debtors may have a new weapon soon, however, as the idea of re-financing these loans at lower rates is just getting started. According to Sheryl Harris in the Cleveland Plain Dealer, Charter One Bank in Ohio […]

Posted in Student loans | Comments closed

Chemical spills, student loans, and bankruptcy

By doug | Published: January 21, 2014

There has been a wave of ill feeling spreading across social media in the wake of Freedom Industries’ chemical contamination of much of the drinking water in West Virginia recently, and there has been criticism of the firm’s recent Chapter 11 bankruptcy filing too, with the general idea that it is some obscure legal ploy […]

Posted in Bankruptcy News, Student loans | Leave a comment

Big tax bills for short sellers? Bankruptcy could come to the rescue

By doug | Published: January 16, 2014

It’s the middle of January 2014, and there still has been no movement by Congress in Washington to re-enact the Mortgage Forgiveness Debt Act, which expired at the end of 2013. That’s bad news for people looking to get out of real estate by a short sale (and for people being forced out of it […]

Posted in Bankruptcy News, Real estate, Secured loans, Taxes | Comments closed

Hardship discharge requires plan confirmation first

By doug | Published: December 20, 2013

Bankruptcy debtors with an active Chapter 13 case often hit a bump in the road and find themselves unable to make their plan payments. This does not absolutely mean their case was a waste of time. It is possible under the Bankruptcy Code to petition to the court for a hardship discharge, essentially gaining the […]

Posted in Chapter 13, The Bankruptcy Code | Comments closed
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