The mission statement of the United States Bankruptcy Court for the District of Maryland is to “promote social and economic order by reconciling the opportunity of debtors to a fresh start with the right of creditors to be paid.” A Google search of “fresh start bankruptcy” turned up about 2,560,000 results. A search of bankruptcy […]
The bankruptcy process is filed with obstacles and milestones: hiring an attorney, filling out complicated forms and pulling the trigger to file the case itself. On top of all this is at least one public appearance: meeting with the trustee. In Chapter 7 the trustee’s meeting should follow careful planning and execution. In Chapters 11 […]
Debtors have options when their assets exceed exemptions. They can file chapter 11 or chapter 13 and make a stream of payments to buy back their property’s surplus equity. They can file chapter 7 and negotiate a buyback from the trustee, or else just release the assets outright. They can stay out of bankruptcy and […]
The classic silent film Metropolis by director Fritz Lang thrilled audiences in the 1920s by depicting a fantastic Art Deco image of a future civilization. Only four posters from that landmark film survive and one of them found its way into the hands of collector Kenneth Schacter, according to this article from Blastr.com. Schacter apparently […]
An 89 year old WWII vet hid $66,000 in gold and silver in his backyard, didn’t tell his lawyer about that and then filed for bankruptcy. His home, owned free of all secured claims other than a few minor judgment liens, is to be sold and he is forced from it. This story is creating […]
(Note: much of the facts in this blog are quoted from the Wikipedia article on Elizabeth Warren) I have long admired, and will probably always admire, Elizabeth Warren. Since before my career began in 1985 as an aspiring bankruptcy lawyer (I was in law school then, to graduate in 1986) Elizabeth Warren has been a […]
