Category Archives: Practical tips

Inspiration for the newly bankrupt

By doug | Published: May 10, 2011

Bankruptcy offers a fresh start for people mired in a financial mess. Only sometimes it doesn’t seem that way for those stuck in the middle of it. For those having a tough time coming to grips with a financial setback despite seeking bankruptcy relief, bankruptcy attorney Rachel Lynn Foley has written a nice article invoking […]

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What if the meeting of creditors goes awry?

By doug | Published: May 9, 2011

Most bankruptcy clients worry needlessly about the “meeting of creditors” in their case — that day about a month after filing when they must drive to Boston, Worcester or Manchester to “face the music” about the case. In almost every instance, this worry is misplaced, as the meeting (which is actually conducted by the bankruptcy […]

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On the fence about bankruptcy?

By doug | Published: May 6, 2011

Russell DeMott, a bankruptcy lawyer in South Carolina, has written a good article for the many folks who can’t decide if they want or need to file a bankruptcy case or not. It’s good reading for anyone on the fence in Massachusetts or New Hampshire as well, as these issues are national in scope. Among […]

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Why so many paystubs?

By doug | Published: May 3, 2011

If you are thinking about consulting with a bankruptcy attorney, be prepared to bring your pay stubs to the consultation. A lot of them. It’s not uncommon for an attorney to want to review as many as six months worth of your prior pay statements when you visit the office. Why so many? It’s all […]

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I filed for bankruptcy, now where’s my *?!*%$# mortgage statements

By doug | Published: April 20, 2011

Let’s imagine you own a home, but have just filed for bankruptcy because of astronomical credit card or medical debts that got out of control. But you were always sure to pay the mortgage first each month (a smart move, by the way) so you would be sure of a roof over your head. Now […]

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Hidden benefits to filing for bankruptcy

By doug | Published: April 18, 2011

Not many people would file for personal bankruptcy unless it was advantageous to do so. As a matter of fact, one of the best reasons to talk to a bankruptcy attorney before you file is just that — to see if bankruptcy is in fact in your best interest. For most folks, especially those with […]

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Beware increased debt load six months prior to bankruptcy

By doug | Published: April 15, 2011

Significant increases in credit card debt within six months of a bankruptcy filing is often treated as a red flag by the bankruptcy trustees who are charged with policing the system. That does not mean that you cannot use a credit card for six months before you file. It means that large charges or a […]

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In praise of cash

By doug | Published: April 8, 2011

Cash is a great thing. Bankruptcy lawyers are always telling clients to use it instead of plastic, but most people don’t actually do it. The reason you should do it is that most people won’t spend as much money if they are actually spending money. Ever wonder why casinos encourage players to use chips instead […]

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If you have no assets, should you file bankruptcy anyway?

By doug | Published: April 7, 2011

Some people pass around a common bit of bad advice, to the effect that a person with no assets is “judgment proof” and therefore never needs to file a bankruptcy case. While there is a grain of truth in this assertion, as always, there is another side to the story. First, if a “no asset” […]

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The worst day to file for bankruptcy in Massachusetts?

By doug | Published: March 31, 2011

Massachusetts debtors face possibly the worst day ever to file a bankruptcy case on March 31st. Your grandmother told you patience is a virtue; she was right. Massachusetts debtors who wait even one day will be able to take advantage of increased federal bankruptcy exemptions, which are bumped up every year on April 1st to […]

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