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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.

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IRAs Not Protected in Bankruptcy Due to Fraud

In a case handed down from the First Circuit Court of Appeals, Daniels v. Agin, last month, a debtor’s discharge in bankruptcy was removed in light of a finding of “intentional or reckless concealment “of the facts regarding his retirement account transfers. This decision was an appeal from a hearing in the Bankruptcy Court. When the creditors filed for summary judgment against the debtor, the Bankruptcy Court decided in the creditors’ favor, resulting in this appeal to the First Circuit.

Fiduciary Duty in Bankruptcy Discharges

What obligations does a debtor in bankruptcy have to his fiduciaries? In a case handed down by Judge Bailey last month, the Bankruptcy Court held that the debtor fiduciary was in violation of the bankruptcy code and as such, the debt to that creditor was not dischargeable in bankruptcy.

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.

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.

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.

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.

Is it Moral to File for Bankruptcy?

We write a personal bankruptcy blog. We are not religious or philosophical in approach. Most of our clients have decided to file for bankruptcy without asking us our view of these subjects. There are, however, many ways to look at the morality of filing for bankruptcy and discharging your debt obligations. What is right? When is it wrong? Contracts and Bankruptcy The bankruptcy laws clearly allow you go get out of most contracts and discharge your debts, allowing for a “fresh start” under the bankruptcy law. Contracts that are dischargeable include credit card agreements. This is one source of concern for those considering the morality of bankruptcy. You signed the credit card agreement, you bought the goods and services, don’t you now have the moral obligation to do anything and everything to pay it back?

Bankruptcy Assets You Can Keep

Clients often ask us “what can we keep if we file bankruptcy?” Or, “do we have to declare all of our assets?” “The house back in the old country doesn’t count, does it?” The bad news is that it all counts. The good news is that most of our clients can exempt all of their remaining assets.

Bankruptcy Discharges for Medical Credit

It’s not new but it’s getting to be a new problem for folks who cant afford medical procedures: credit provided by medical credit cards and lines of credit for folks who may, or may not, have medical or dental insurance. So what is this medical credit card? And is it dischargeable in bankruptcy?

Bankruptcy and Student Loans

Massachusetts Senator Elizabeth Warren has filed a bill in the United States Senate that would allow debtors in Bankruptcy Court to include student loans in their bankruptcy petitions. Senator Warren, along with Illinois Senator Dick Durbin, filed the legislation because they feel that the Bankruptcy Act of 2005 should be amended to allow student loans to qualify for discharge when debtors get a fresh start from a bankruptcy discharge.