Common Causes of Bankruptcy
Prior to the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005, both houses of Congress solicited testimony regarding the rise in consumer bankruptcy filings. Consumer advocates, such as Harvard’s Elizabeth Warren, pointed to rising medical costs as a common reason for filing. However, creditor advocates maintained that the majority of consumer […]
Income Taxes and Bankruptcy
In acknowledgement of the passing of “tax day”, we thought that we would address the treatment of income taxes in bankruptcy.[i] Many consumers seek bankruptcy assistance because of income tax problems. While income taxes are afforded special protection in bankruptcy, there are some instances where they can be eliminated. Even if they cannot be eliminated, […]
WHAT YOU SHOULD KNOW BEFORE YOU EVER COSIGN A LOAN
Our firm routinely meets with prospective clients who have encountered financial trouble after “cosigning” or “guaranteeing” a loan for a family member or friend that went into default. Many times they misunderstood the extent of their liability at the time that the loan was executed, or assumed that the lender would only pursue them for […]
REBUILDING YOUR CREDIT AFTER A PERSONAL BANKRUPTCY
The importance of good credit in our economy cannot be understated. It is a factor to be considered not only in lending, but also in the acquisition of housing, employment and higher education. The effect of a personal bankruptcy on a consumer’s credit is usually one of the primary concerns that we encounter in our […]
CONSUMER RIGHTS UNDER THE FAIR DEBT COLLECTION PRACTICES ACT
It is obvious that Bankruptcy and debt collection should go hand-in-hand, as ultimately it will be the attempts at collection upon one or more debts that will inevitably trigger a bankruptcy filing. One of the frequent questions that we hear from prospective clients is, “[can] my creditors legally do that?”
TO CONSOLIDATE OR NOT TO CONSOLIDATE
Fortunately Hamlet did not have to ponder the consequences of mounting unsecured debt, coupled with the prospect of limited income with which to maintain those debt obligations. However, many homeowners are faced with this issue, and may consider using untapped equity in their house to obtain a consolidation loan to pay off those debts. A […]
STUDENT LOANS: THE GOOD, THE BAD, AND THE UGLY
Higher education has historically provided a financial advantage to American citizens. Studies have demonstrated that college graduates will earn significantly more over their lifetimes than workers who do not attend college. Consequently, the federal government has taken steps in the past to assist in making college affordable – whether directly through the GI Bill, or indirectly, by guaranteeing the loans made by private lenders.
Bankruptcy Reform, Five Years Later
Unfortunately, little has changed for the better for consumer debtors since the Bankruptcy Abuse and Consumer Protection Act (BAPCPA) was implemented five years ago; consumer bankruptcy attorney Zane Leiden examines Bankruptcy Reform’s failure to reduce consumer bankruptcy filings.
2010 Foreclosures were at an all-time high, and experts predict 2011 will be worse.
2010 Foreclosures were at an all-time high, and experts predict 2011 will be worse. Read more.
Zane Leiden, Augusta’s Best Attorney 2010
Congratulations to Zane Leiden for being voted Augusta’s Best Attorney for 2010 by the readers of the Metro Spirit!