2018 YEAR END BANKRUPTCY ANALYSIS
As 2018 draws to a close, and 2019 begins in the midst of economic and political turmoil, now is a good time to address our financial environment, and disclose recent developments/trends which are now manifesting themselves in Bankruptcy Court. For the purposes of this article, we will confine ourselves to bankruptcy developments in the Southern […]
Recent Bankruptcy Court Observations – Part 2
In the September 2018 edition of the American Bankruptcy Institute Journal, Ed Flynn writes an interesting article regarding “The Changing Profile of Chapter 7 Filers”.[i] By reviewing filing data on more than 650,000 Chapter 7 cases that were filed over a 10 year period of time, he was able to identify trends among Chapter 7 […]
Hundreds of Wells Fargo Customers Lose Homes After “Computer Glitch”
Wells Fargo admits that a “computer glitch” caused the improper foreclosure of hundreds of home loans between April 2010 and October 2015. But keep in mind that there were probably thousands of improper foreclosures that were averted by bankruptcy filings, so the actual amount of loans affected by this glitch was probably much higher. Click […]
Bankruptcy Internet services – avoid at all cost!
Recent observations by our firm of cases in the Augusta Division Bankruptcy Court, as well as information obtained from across the nation, have revealed increase in consumers who access the bankruptcy courts by way of Internet bankruptcy services. These services are run more like a business than an actual law firm, seeking to market bankruptcy […]
Pro Se Bankruptcy Filings Increase in the Southern District of Georgia
Since the beginning of 2018, our firm has noticed a significant increase in the number of pro se bankruptcy cases. Unfortunately, many of these cases are dismissed within the first 60 days for failure to adhere to the filing requirements imposed by the bankruptcy code. This would include failure to obtain pre-bankruptcy credit counseling, as […]
Leiden & Leiden Celebrates its 45th Anniversary!
On March 19, 2018, the law firm of Leiden and Leiden will celebrate its 45th anniversary. Terry Leiden opened the law firm at its present location at 330 Telfair St. in Augusta on March 19, 1973. It was an ambitious endeavor by Terry Leiden, as he was a transplant from Cleveland, Ohio, and did not […]
The Price to be Paid for Obtaining Your “Free” Credit Score
Ads abound on television and the Internet offering to provide consumers with their free credit score. These ads lead consumers to believe that the failure to monitor their credit score is negligent, and could result in the denial of credit in the future. However, these ads omit the fact that the credit score that they […]
Pre-filing indications that your Chapter 13 case will not be successful
The Southern District of Georgia, which includes Richmond, Columbia and Burke County among others, usually ranks near the top of the other federal districts in the percentage of Chapter 13 cases which are filed. There are certain circumstances in which a consumer seeking bankruptcy relief will be required to file a Chapter 13 bankruptcy case, either […]
How to Lose an Asset in Bankruptcy Court Without Even Trying
While the primary goal of filing bankruptcy is to provide relief from debts, an equally important objective is the protection of all of a debtor’s assets. The Bankruptcy Code does allow for exemptions, which enable an honest debtor to protect assets from seizure and sale by a bankruptcy trustee. These exemptions vary from state to […]
Finance & Credit Trends to Avoid in 2018
At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both individuals and corporations alike. In the years that followed, consumer lending became less available, and with […]