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Category Archives: Bankruptcy

Category Archives: Bankruptcy

What happens if I conceal an asset in a bankruptcy?

30 August 2012 Answer: really bad ramifications, and now there is one more added to the mix for Massachusetts. A federal appeals court has just issued a ruling that the law allows an additional remedy against bankruptcy debtors that conceal assets. This case is important because it establishes the law for Massachusetts and adds another […]

How will my student loans be treated in a chapter 13 bankruptcy?

19 July 2012 This is a good question and is of some dispute in the legal field. We start with the rule that people generally know; student loans are not dischargeable in bankruptcy (with rare exceptions). Another general rule for chapter 13 filers is that unsecured creditors are usually paid a percentage of the total […]

Can I keep my vacation (or second) home if I file for chapter 7 bankruptcy?

1 June 2012 It depends. There are many factors to address and a thorough evaluation by a quality bankruptcy attorney is necessary. However, one recent opinion issued by a Massachusetts bankruptcy judge is worth taking a look at. In In re Lawrence the Debtors had two residences, one in Massachusetts and one in Maine. In […]

Deciding to represent yourself (pro se) in litigation or bankruptcy is risky business.

31 May 2012 At times people consider representing themselves in a legal matter for various reasons. It could be the price of competent counsel, not knowing an attorney that you trust, or a belief that you can handle the matter on your own, or all or some combination of these or other factors. This blog […]

What does it cost to file bankruptcy in Massachusetts (in attorney’s fees)?

11 May 2012 This is common question posed by a prospective client when they are “shopping” for a bankruptcy attorney to file under chapter 7 or chapter 13, especially by those that put a significant emphasis (often an overemphasis) on price. This post raises one consideration for those that emphasize price when choosing an attorney […]

Is the bank required to hold both the mortgage and note to properly foreclose in Massachusetts?

6 March 2012 Described by some as the “note and mortgage defense,” this is the question to be decided by the Massachusetts Supreme Judicial Court (“SJC”), the highest appellate court in Massachusetts, at any time now.  The case is titled Eaton v. Federal National Mortgage Ass’n.  The initial briefs have been filed, oral arguments have […]

Can I keep all my assets if I file bankruptcy? (Part 3)

5 March 2012 In prior posts (2 November 2011 and 3 December 2011) we addressed this general topic; whether you can keep all your assets even after you file bankruptcy, which is asked by all those contemplating filing.  The focus was on when you would be absolutely sure you would not lose the asset.  As […]

Will I be able to keep all of my assets if I file for chapter 7 bankruptcy? (Part 2)

3 December 2011 As stated in the prior blog posted on 2 November 2011, we are addressing a debtor’s ability to keep his assets upon the filing of a chapter 7 bankruptcy. We stated that once the case is filed, generally your assets become part of the bankruptcy estate and are subject to liquidation. We […]

Will I be able to keep all of my assets if I file for chapter 7 bankruptcy?

2 November 2011 The answer is maybe. But in most cases you will not know for sure that you will keep your assets until the case is closed. For a better understanding, please read on. This question is common for people to have and for bankruptcy blogs to address. Usually the truth is told that […]

What happens to my 529 education account if I file for bankruptcy?

What happens to my 529 education account if I file for bankruptcy? 12 September 2011 It depends on a number of factors. But relatively recent changes in bankruptcy law by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) made it more likely you will be able to keep all or at least […]