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Bankruptcy Court Clarifies Records Retention Rule

What happens when a creditor files a lawsuit demanding that your bankruptcy discharge not be issued?  Can your creditor prevent you from getting a “fresh start” after bankruptcy?  Of course it depends on the facts in each case.  In a case regarding the retention of business records, the Bankruptcy Court made a clear distinction between records that the debtor has or should have, and refuses to turn over, and records that the debtor does not have. Read more

Card Act Helps Consumers

While Massachusetts bankruptcy filings have gone down, and the answers as to why somewhat unclear, some credit may go to the Card Act, which is saving billions of dollars per year for consumers, and largely low and moderate-income consumers with poor credit.

We have long held that bankruptcy clients should not “feel guilty” because the banks and other lenders have already factored in a percentage of their debts as unable to be paid.  Furthermore, a large part of bank profits has been from the backs of those with poor credit, who have paid exorbitant interest rates.  Consumers are entitled to a “fresh start” under federal bankruptcy law. Read more

Bankruptcy Fraud Prevents Discharge of Debts

If I file for bankruptcy, my debts will be discharged, right? Well, not your student loans, or your secured loans, or mortgages securing real estate. And not some taxes. Everything else, right? Well, no debts that were secured by fraud are dischargeable.


How Does the Bankruptcy Trustee Find Fraud?

First, it is the job of an experienced bankruptcy lawyer to keep his or her clients from committing fraud. It should not be hard. Many clients claim to want to undertake transactions that would be considered fraudulent conveyances. An experienced bankruptcy attorney works with the client to avoid all such conveyances. Read more

Massachusetts Homestead Law Further Defined by Bankruptcy Court

The Massachusetts Homestead Act is simple in its concept, but occasionally requires litigation to determine how it works in practice. A recent case regarding subdivided land and a homestead in bankruptcy is worthy of discussion. First, what is the Homestead Law?

How Does the Homestead Act work?

Under Massachusetts General Laws, Chapter 188, Section 1, any homeowner who resides on the land he or she owns, has an automatic homestead up to $125,000 of equity. Read more