November 23, 2017

Supreme Court Ruling on Lien Stripping

Despite the uptick in the housing market, millions of Americans owe more on their first and second mortgages than their homes are worth. When mortgage balances exceed the value of the home, the home is said to be "underwater." Sometimes the value of the home is sufficient to cover the balance of the first mortgage but not the second. The recent Supreme Court ruling on underwater second … [Read more...]

Chapter 11 or 13 for Troubled Businesses ?

This month news of an oil and gas producer filing for Chapter 11 bankruptcy protection made news. The reason cited for the financial difficulty is the drop in oil prices, which have have slid some 50 percent since June. My Chapter 11 clients own small to mid-sized businesses, but they have the same problems as bigger companies who need to reorganize under the orderly process of a bankruptcy … [Read more...]

Choosing a Chapter 13 Bankruptcy Specialist

Filing a Chapter 13 bankruptcy case isn’t as straightforward as a Chapter 7 case. I usually find that my Charlotte area clients who need Chapter 13 bankruptcy protection have complex issues to resolve including: Businesses and partnerships that need to be unwound or otherwise dealt with Unpaid tax liabilities with the state and IRS A number of mortgaged properties and other assets they … [Read more...]

Chapter 13 Bankruptcy for Second Mortgages

Homeowners who are in financial difficulty are well advised to consider a Chapter 13 bankruptcy case as an option when they are current on their first mortgage but are not paying, in full and on time each month, their second mortgage (including a home equity loan or other debt secured by the property). I see situations where people whose incomes have been cut will forego paying the second … [Read more...]

Repaying debts with Debt Consolidation, Debt Settlement, or Chapter 13

In nearly 40 years of practicing bankruptcy law, I've learned a lot about human nature. One of those things is that the vast majority of people want to pay their debts. Almost invariably, they do not want to file bankruptcy because of the perceived stigma. This is understandable, but it may lead to a decision that in the long run becomes costly and painful. To meet that desire to make good on … [Read more...]

Experienced Chapter 13 Bankruptcy Attorney

Filing a Chapter 13 bankruptcy case isn’t as straightforward as a Chapter 7 case. I usually find that my Charlotte area clients who need Chapter 13 bankruptcy protection have issues with businesses and partnerships that need to be unwound or otherwise dealt with; they often have unpaid tax liabilities with the state and IRS; and they may have a number of mortgaged properties and other assets they … [Read more...]

Chapter 13–Lien Stripping: Hope for Homeowners

After several years of speaking with our clients about loan modifications to save homes and hearing a sad litany of misinformation and outright deceptions, it has become painfully obvious that loan modifications are more smoke and mirrors than reality. Does this mean that there is nothing that homeowners can do to try to save their homes?  Unfortunately, in most instances the answer is … [Read more...]