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The Debt Podcast 
Hosted by Jay S. Fleischman, a bankruptcy and consumer lawyer located in New York City. Information and news designed to help you learn more about bankruptcy, debt relief, and consumer credit options.
Post Frequency: 4.9/day Last Entry: November 23, 2010 at 18:33:08 Recent Entries: 1537
Go to The Debt Podcast, find other Bankruptcy blogs, or browse all law blogs.
Conflicts of Interest in Bankruptcy
Posted on September 21, 2009Avoid conflicts of interest when hiring your bankruptcy attorney.
Will I Lose My Retirement If I File For Bankruptcy?
Posted on September 20, 2009One of the most common fears that people considering bankruptcy have is whether or not they will lose their retirement if they file for bankruptcy. Like all legal questions, the answer to the question of whether or not a debtor will lose their retirement benefits if they file for bankruptcy is that they will probably not [...
Do I need to pass the means test ? I have business debts.
Posted on September 20, 2009You have to pass the means test if your debts are “primarily” consumer debts. This isn’t quite as easy as it sounds. Why? The word “primarily” is not defined in the Bankruptcy Code. So how do we figure this out? Well, first what’s a “consumer debt”? That’s not so hard – “consumer debts” are defined in the [...
My bankruptcy case was dismissed. What does that mean?
Posted on September 19, 2009Recently, I have been receiving a number of calls from people whose bankruptcy case has been dismissed or is about to be dismissed and he or she doesn’t understand what that means. First, the automatic stay that was imposed when you filed your bankruptcy petition is no longer in effect...
PROS AND CONS OF REAFFIRMATION IN BANKRUPTCY PART 1
Posted on September 19, 2009Reaffirmation is one of those strange part of the old bankruptcy code and the new bankruptcy code. (BAPCA) Over the next few parts I am going to talk about why reaffirmation is bit weird and a little different depending on what state and what district you are in...
Ninth Circuit Eliminates ?Ride Thru?
Posted on September 16, 2009On September 15, 2009, the Ninth Circuit Court of Appeals issued its ruling in Dumont with a split 2 to 1 decision, holding that “Ride Thru” is no longer an option in the Ninth Circuit as a result of the new Bankruptcy Laws enacted under BAPCPA...
How Will My Small Business Be Affected By My Personal Bankruptcy? (Part Two)
Posted on September 15, 2009In a prior post, I talked about operating a business as a proprietorship and how your personal bankruptcy may affect your business. See here. Suppose you operate your business as a corporation, how will your personal bankruptcy case affect your business? First, as I had indicated previously, a corporation is a completely separate legal entity...
How to Avoid Bankruptcy Myths and Get Accurate Information
Posted on September 15, 2009There’s a ton of bad information out there about bankruptcy. So how do you know the information you are getting is reliable, and where do you go for answers to your questions about bankruptcy? Here are some tips to avoid bankruptcy myths, and then some suggestions for how to get your questions answered...
Can My Ex-Spouse Use Bankruptcy to Discharge Debts Arising from a Divorce Order?
Posted on September 15, 2009From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy. They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order. In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...
Are You in Financial Trouble: A Diagnosis
Posted on September 15, 2009Everyone?s financial situation is different, but there are a few indicators that your finances are already in trouble, or on a fast track there. Often people do not realize the seriousness of their financial situation because of they are living week-to-week...
Keep your car through bankruptcy without risk
Posted on September 14, 2009Debtors whose budget shows they can’t afford to reaffirm the loan on their car may get to keep the car without reaffirmation under a line of decisions by bankruptcy judges. A number of judges have ruled that “pay and drive” survives bankruptcy reform if the debtor signs a reaffirmation agreement that is denied by the judge [...
Can?t Make Your Mortgage Payments? Your Bank Doesn?t Mind?It Will Use Your House for Parties!
Posted on September 14, 2009Watch out, if your $18 million home on the beach in Malibu is turned back to the bank–it might become a “Party House”. This is what happened to victims of the Madoff pyramid scheme, who lost their home as a result. According to this article on AZCentral...
Budgeting Problems and Bankruptcy: Part II
Posted on September 13, 2009Why is it so hard living on a budget? I believe it has something to do with the many unscheduled expenses of life. Do we carefully categorize every dollar spent? Probably not. As a result, we underestimate how expensive life really is. Yesterday, I joined my wife for a quick trip to the local supermarket...
More Student Loans, School Expenses Not Discharged in Bankruptcy
Posted on September 13, 2009More student loans are not dischargeable in bankruptcy than ever before and the definition of student loan has been expanded to include private loans and expenses that are not “loans” in the traditional sense of the word loan. The changes came after Congress passed the s0-called bankruptcy reform act in 2005 known as the Bankruptcy Abuse [...
Chapter 13 Debt Limit Qualifications
Posted on September 13, 2009Recently, the Southern District Bankruptcy Court ruled that certain Chapter 13 Debtors could not qualify for Chapter 13 relief since they exceeded their debt limitations. Pursuant to 11 USc 109(e), chapter 13 relief is not available to debtors with unsecured debt higher than $336,900 or secured debt higher than $1,010,650...
My Chapter 13 Bankruptcy Claims List is Missing Creditors: What Do I Do?
Posted on September 13, 2009You should not panic if all your creditors did not file a proof of claim in your chapter 13 bankruptcy. There are many reasons creditors don’t file claims. If you have given proper notice to all your creditors, all your dischargeable debts, including unfiled claims, will be discharged upon the completion of the plan...
Lower Credit Card Interest and Balance to Avoid Default
Posted on September 12, 2009Negotiate a lower payment on your credit card. Call customer service and ask for a better rate. “Just work with me.” These proven common sense tips could save you money on your credit card accounts. More than one out of 10 accounts went 6 months in default last month and that rate is expected to climb [...
Is it Safe to Fly on an Airline that is in Bankruptcy?
Posted on September 11, 2009Pay attention to these 5 tips to safely fly on an airline that is in bankruptcy. During the past 8 years these airlines filed bankruptcy: Aloha Airlines, America West, ATA Airlines, Braniff International, Continental Airlines, Delta Air Lines, Eastern Airlines, Frontier, Hawaiian Airlines, Northwest Airlines, TWA, United Airlines, and US Air...
Is Filing Bankruptcy A Sin?
Posted on September 11, 2009Chapter 7 bankruptcy discharges debts, wipes them out. We have all been taught to pay our bills. It is wrong not to pay back what we have borrowed, used, spent. Money that we promised to repay when we borrowed it. This is the message of our culture, whether it was money to buy furniture, a car or [...
Credit Reports Before You File Bankruptcy
Posted on September 11, 2009I insist that I see my clients? credit reports before every bankruptcy I file. I prefer to see all three credit reports as they contain valuable information that can help us prepare a better bankruptcy and determine if a bankruptcy is possible. The information contained about an individual?s debts and assets on the reports are [...
Upside Down Car Loans Protected in 8th Circuit
Posted on September 11, 2009The Eighth Circuit ruled this week that certain types of car loans are protected from “cramdown” in the Chapter 13 bankruptcy process, reversing decisions in Eastern Missouri. Agreeing with its sister circuits which have addressed this issue, the Midwestern federal circuit court of appeals concluded that loans made during the 910-day period prior to a bankruptcy [...
How Will My Small Business Be Affected By My Personal Bankruptcy? (Part One)
Posted on September 10, 2009This is a tough question and a lot it depends on how you operate your business. Before the question is addressed, it may be useful to go back over the various forms of businesses typical of a small business owner. Sole Proprietorship: This is where you operate the business by yourself–you have not incorporated and you [...
Being Your Own Bankruptcy Attorney is Like Being Your Own Dentist: It Will Hurt
Posted on September 10, 2009Attempting to be your own bankruptcy attorney is a very bad idea that almost always has disastrous results. This is true for both Chapter 7 and Chapter 13 bankruptcy cases. I was at bankruptcy hearings this week, and I watched a hearing in which the debtors, a husband and wife, had filed their case without an [...
Bankruptcy and the Upside-Down House: American Dream or Just a Nightmare?
Posted on September 07, 2009If you’re planning on filing bankruptcy, you need to weigh all your options before you decide whether you should keep your house, especially if it is a house you can’t afford or one in which you have no equity. While this decision is somewhat different based on whether you will be filing under Chapter 7 [...
Nasty Surprise in Credit Union Car Loan
Posted on September 07, 2009Do you think you could owe twice as much as you thought on your car loan? It could be true, if your car loan is owed to a credit union, you owe a large credit card balance to the credit union, and if the dreaded “cross collateral clause” is lurking in the fine print of the car [...
Lawyers File Bankruptcy Cases Electronically on Internet
Posted on September 07, 2009Filing for bankruptcy is usually done on the internet by your attorney, helped by special bankruptcy software that most attorneys have.
Can I Transfer My Assets Before I File Bankruptcy?
Posted on September 07, 2009I am often asked, “Can I transfer my car or my house to my relatives before I file bankruptcy?” The answer is very simple, NO. It is a lot worse when clients come into my office and they have already transferred an asset (often because of bad advice...
Why Should I File Bankruptcy?
Posted on September 07, 2009Is your financial situation desperate? The Bankruptcy Code may be available to provide you with the “fresh start” you need. We see people in our offices everyday-good, hard-working people-who have fallen on tough times for one reason or another...
Your Car Loan Is from a Credit Union? You May Be in for a Nasty Surprise
Posted on September 06, 2009Do you think you could owe twice as much as you thought on your car loan? It could be true, if your car loan is owed to a credit union, you owe a large credit card balance to the credit union, and if the dreaded “cross collateral clause” is lurking in the fine print of the car [...
Lawyers File Bankruptcy Cases Electronically On The Internet
Posted on September 06, 2009Filing for bankruptcy is usually done on the internet by your attorney, helped by special bankruptcy software that most attorneys have.
Previous | Next
New Jersey Legal Update - Podcast # 57
This week's New Jersey Legal Update podcast will address federal l...
New Jersey Legal Update - Podcast # 53
This week's New Jersey Legal Update podcast will discuss the landm...
The Mortgage Forgiveness Debt Relief Act
Phantom Income Relief on Debt Cancellation
Collection Agencies and Creditors
How to deal and stop the harassment
Bankruptcy Law
A complete prime (pre-2005)
The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets
Emergency Economic Stabilization Act of 2008
Bailout Bill HR124
Truth In Lending Act
Consumer Loans and Consumer Credit Protection Act
If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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If I unknowingly cash a fictitious check, am I responsible to repay the bank?
Definitely, please go to court! Those crooks should be behind bars!...
Some elses debt is being reported by a bank to the crecit agencies. They know and have ackowledged it is not mine, yet it is still being listed as mine. it was my son's and no I didn't co-sign. It is adversly
It is easy for the bank and the credit reporting agencies to clear this confusio...
Am I obligated to pay on a home equity line of credit that has been discharged through chapter 7?
The reaffirmation is done through the payments you have been making to the compa...
A month or so ago I was with some new people I met, and one of them asked me to cash a couple of checks he had, that he couldn't cash because he didn't have a bank account or a driver's liscence. I didn�
If the call was from your bank it may mean that the checks were bad. You may hav...
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