As 2010 reaches its end, it’s worth taking a quick look at the current state of bankruptcy. Specifically, two trends in particular. Trend #1: Business bankruptcies are decreasing. Trend #2: Consumer bankruptcies continue to increase. This is according to an article in the Daily Finance that notes that business bankruptcies have declined for the 5th …
CreditSlips.org is always a great source of info and analysis of bankruptcy issues and news, especially those affecting average New Yorkers and other Americans. It’s run collaboratively by the leading bankruptcy professors on consumer bankruptcy issues from several different universities around the country. Though some of the CreditSlips.org posts may be a bit on the …
I came across these Japanese mortgage refinance TV ads and thought they were worth sharing. They don’t provide much in the way of educational value. But they are entertaining and they do remind us that people in other countries also have mortgages and deal with the same kinds of problems. That said, it’s also a …
Elizabeth Warren’s role as head of the Consumer Financial Protection Agency is shaping up to be the focus of a political battle. But it really shouldn’t be. If there was ever someone in D.C. who was actually looking out for the interests of the American people and the U.S. economy, and who actually had the …
Why Elizabeth Warren is the best consumer watchdog we could hope for Read More »
As we embark on the beginning of another crazy holiday season, it’s worth pausing to reflect on ways to keep our heads and wallets in check in order to avoid debt problems and bankruptcy in the New Year. Here are a few things to keep in mind as you fight your way through the crowds …
If you’re a New York senior citizen thinking about bankruptcy because of credit card debt, you’re likely not alone. Not only have senior citizen bankruptcy filings risen substantially from last year. But the primary cause of those filings appears to be credit card debt, not medical debt, according to research by Law Professor John Pottow …
Senior citizen bankruptcies up, primarily due to credit card debt Read More »
More New York bankruptcy on the way? A New York State Comptroller’s report indicates that the income of New Yorkers has fallen by 3.1 percent, the first decline in 70 years for New York residents. The primary cause of the decline is the drop in Wall Street earnings (remember the financial crisis?) and resulting layoffs …
Are things getting better or worse? Is it more likely that you’ll need to file for bankruptcy in the future, or less likely? It’s hard to know the answer to these questions. But below are some articles that may serve as indicators of which way the wind is blowing. 1. “The ugly reality of lowering …
Bankruptcy Signs of the Times for New Yorkers 9.29.10 Read More »
There’s a thoughtful article by Gene Turnwald (a Lansing, MI attorney) about how Americans 65 and older view bankruptcy differently than the younger generation of 30 and 40-somethings. He notes how the younger generation views bankruptcy as a calculated business transaction. Those 65 and older, on the other hand, tend to take it more personally …
Bankruptcy stigma: Perspectives of older and younger generations Read More »
In my previous post on preference actions, I wrote about how I was able to help a previous client head off a preference action before it even began thanks to sound analysis of the situation, thorough preparation and effective presentation to opposing counsel. That said, there are also situations where baring your teeth may not …
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