We have been practicing law in Boston and throughout Massachusetts since 1985. I have represented clients in District Courts, Superior Courts, the Appeals Court, Housing Court, Probate Courts, Federal Bankruptcy Court and the Federal District Court.
In a national study by economists the conclusion was reached that the recent mortgage crisis was partially a result of the changes in the federal bankruptcy laws, made effective in October 2005. To those of us practicing personal bankruptcy law in Massachusetts, this seems like a simplified conclusion based on assumptions.
Read MoreWe have seen a rise in the number of prospective Boston consumer bankruptcy clients that have been misled, misinformed and misguided by the debt settlement industry.
Read MoreWhile Massachusetts bankruptcy filings were up in March, 15% higher than the same month last year, they are slightly lower than the prior month.
Read MoreThe Federal Reserve Board released recently released requirements that should help businesspersons, even following personal bankruptcy in Massachusetts. In essence, the “Interagency Statement” requires banks to “understand the long-term viability of the borrower’s business, and focus on the strength of a borrower’s business plan, including its plan for the use and repayment of borrowed funds.” The regulations require that the lenders focus on local, not national, trends. Massachusetts debtors who have received a fresh start from bankruptcy should review the Fed’s directives when seeking loans.
Read MoreWhile we can assist our personal bankruptcy clients in discharging much of their consumer debt, there are some debts that are not dischargeable. Among those are student loans guaranteed by the federal government. There are numerous programs that can help.
Read MoreWe warn our Chapter 7 no asset personal bankruptcy clients in Boston that the free credit reports advertised are in fact, not free. Experian paid over one million dollars in fines for their misleading advertising and now charges $1. More importantly, if you sign up and fail to disengage your membership during the “trial” period, you can be charged up to $14.95 per month!
Read MoreThe number of homeowners defaulting on new federally subsidized mortgages is up at an alarming rate.
Read MoreNone of our clients enjoy paying taxes. Our personal injury clients do not pay taxes on their net recoveries, but they pay taxes! Our bankruptcy clients can discharge some older tax bills, but no recent taxes, and they know they will be paying their taxes in the future. However, like death, taxes come for us eventually. That said, there seems to be a lot of misconception out there about why pay and who pays what.
Read MoreSeverance pay verses unemployment compensation was the subject of a recent Chapter 7 decision in United Stated Bankruptcy Court by Judge Feeney.
Read MoreThe Federal Housing Administration announced a new series of steps aimed to assist troubled homeowners. Our bankruptcy clients are likely to ask how qualifying for this program will affect their potential personal bankruptcy cases.
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