Bankruptcy News
NC Bankruptcy Rule Change Helps People After Hurricane Florence
Thousands of people in eastern North Carolina have been dislocated and their lives disrupted by the historic flooding caused by Hurricane Florence. If you are struggling to meet your bankruptcy payment obligations while dealing with the effects of the hurricane,...
Cross-Collateralization Bankruptcy
Many people sign loan agreements without reading the fine print or understanding the consequences if the agreement contains a cross collateralization clause. Cross collateralization provisions in loan agreements can create unexpected complications for borrowers seeking to discharge debts by filing...
ALERT! - Phone Scam Lawyers Collecting Debt
There have been reports of recent collection phone call scams targeting NC. Lawyers Mutual has provided some helpful information regarding this scam. We would like to first confirm that. This firm (Sasser Law Firm) DOES NOT collect debt via phone call. If you receive a phone...
Another Attempt to Student Loan Dischargability
To discharge your student loans in bankruptcy, you pretty much have to be in a coma. That’s not the technical rule, of course, but it certainly feels that way sometimes. As a result, when attorneys who represent debtors talk about...
Scam Targets Bankruptcy Filers
Yesterday, the U.S. Courts issued a press release describing a scam where individuals receive a phone call from someone posing as their bankruptcy attorney, demanding payment to satisfy a debt. What makes these calls particularly convincing is that the caller-id...
Breaking News from the Supreme Court! Everything is the Same.
Debt secured by collateral can be either over-secured (meaning that the value of the collateral exceeds the loan balance) or under-secured (meaning that the value of the collateral is less than the loan balance). When there are multiple loans secured by...
Calm Down Everybody, Changing the Bankruptcy Code is Actually Really Complicated
I don’t know what sorts of news outlets you subscribe to, but around here this week, we were inundated with reports of President Obama instructing his administration (somewhat vaguely, it seems) to look into tweaking the bankruptcy code to do...
NY Judge Slaps Wells Fargo for an Obnoxious Company Policy
Wells Fargo has a policy of freezing debtor bank accounts that have a balance of more than $5,000. Don’t look for the source of this policy in the bankruptcy code, rules, or jurisprudence. Don’t look for it in the “best...
Chapter 7 Lien Stripping?
It has been settled law in every circuit but one that wholly unsecured subordinate mortgages could not be stripped-off in chapter 7 cases. But since it only takes one heterodox circuit to create a split in the circuits, the US...
June 2014 Bankruptcy Statistics
June 2014 bankruptcy filings totaled 73,816 in the United States bringing the nationwide total to 479,362; a 12% decrease from the 544,561 total filings during the same period last year. According to the American Bankruptcy Institute, this is also a...
