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Burns & Jain have represented clients in the Federal Bankruptcy Court since 1985. What we enjoy about this area of law is that all of our clients get a “fresh start” in their financial life. Indeed, the law allows you to keep your assets and “discharge” your debts!
The Right-to-Repair campaign that was supposedly settled back in 2013 has come to the forefront again and is on the November ballot for Massachusetts residents as Question 1. In 2013, the voters overwhelmingly passed a state law allowing owners and independent auto repair shops to have access to a vehicle’s computer information data. That law lacked teeth, however, since a provision in the measure excluded access to telematics, which is repair and diagnostic data that is sent to the auto dealer. This is information that the aftermarket repair shops contend will make them competitive with the dealers. Without it, they argue, they will be limited in what repairs they can make and will lose business and ultimately cause independent repair shops to close down.
Do you want a perfect 850 FICO score? Well only 1% of folks have it and it just got more complicated to reach that goal. The new scoring may divide the high scorers from the bottom folks more than ever. Note that currently only about 20% of Americans have a credit score above 800. The biggest change is how your payment history trends to create a “smoothing effect” over time. The effect may be that auto lenders may approve of more applicants. Once in effect, this will help folks who have filed for bankruptcy protection and work hard to build up their credit.
It is not clear what the long-term ramifications are following the historic coronavirus pandemic. What is an unfortunate consequence is that many folks in Massachusetts may need to consider filing for personal bankruptcy.
Attorney Neil Burns recalls that when the federal bankruptcy laws changed in 2005 there was a dramatic increase in Chapter 7 filings. When the Crash of 2008 happened, Attorney Burns and his firm filed all too many bankruptcies for families in the months and years thereafter. In each wave of bankruptcies, the “fresh start” law was proven helpful.
Not generally. You must insure each property as a typical homeowner’s insurance policy or apartment policy insured that property alone. However, and there’s always an exclusion or interpretation based on the facts of the case and the specific policy, sometimes it’s the negligence of the homeowner that is the issue, and that may trigger insurance coverage at another property or elsewhere.