I always try to warn people to avoid the empty promises of debt relief and debt settlement companies that require up-front fees and imply that you’ll only need to pay pennies on the dollar. Now, the Wall Street Journal is warning people as well in a recent article (“Beware of ‘Debt-Relief’ Offers“). The article notes …
Wall Street Journal says “Beware of ‘Debt-Relief’ offers” Read More »
The Center For Responsible Lending, a nonprofit and non-partisan research and policy organization focused on fighting abusive lending practices, is warning people to beware of recent changes banks have made to their debit card policies. Previously, if you attempted a transaction with your debit card and you did not have enough money in your account …
Debit cards, overdraft fees and involuntary loans Read More »
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. In subsequent posts …
Preference Actions: What is the “New Value” defense? Read More »
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. In a subsequent …
Preference Actions: What is the “contemporaneous exchange” defense? Read More »
What does BAPCPA Man dress up for on Halloween? Read below and find out. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of BAPCPA Man #13: Halloween & Bankruptcy. If the prospect of filing for bankruptcy in …
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. The first one …
Preference Actions: What is the “Ordinary Course of Business” Defense? Read More »
In the wake of Annie Leibovitz’s recent near-bankruptcy, I thought it might be worth taking a look at the current intersection of bankruptcy and the art world. 1. Starting with Annie Leibovitz, the media has been reporting that a recent Obama family photo portrait was done by Leibovitz right before she worked out a deal …
In previous posts on this site (What is a Preference? And why should you care? and Preference Actions: How to Defend Against Them), I’ve addressed the topic of preference actions (also commonly referred to as preference lawsuits). If you read those two posts, then you know that, from a creditor’s perspective: Preference actions seem unfair …
BAPCPA Man races under avalanches and leaps across crocodile-infested rivers to introduce you to the concepts of Chapter 7 bankruptcy and Chapter 13 bankruptcy. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of the image. Go to …
BAPCPA Man introduces you to Chapter 7 and Chapter 13 Read More »
You may have seen recent reports that Lenny Dykstra’s World Series ring was sold at auction to a Queens man for $56,000. And if you’ve been following the travails of Lenny Dykstra, or you’ve been reading previous posts on this blog (e.g., “Why Did Lenny Dykstra File for Chapter 11?” or “Dykstra Learns More About …
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