Recent Articles

This is Suze Orman...

February 11, 2009 01:16

Last fall I shared my thoughts about Dave Ramsey. The blog article brought in more comments than I usually get. I've had my eye on Suze Orman ever since I happened to catch her CNBC show over the holidays. James...Last fall I shared my thoughts about Dave Ramsey. The blog article brought in more...

As the Economy Turns...

January 28, 2009 22:15

Today, my Bankruptcy Colleague and fellow-blogger Jonathan Ginsberg wrote about The Psychology of Debt Collection: Avoid the Manipulation. The Boston Globe reports that the Massachusetts Attorney General has filed a bill to slow down foreclosures. But the legislation would only...Today, my...

Another Foreclosure Workshop Planned

January 27, 2009 23:18

From the Boston Globe: The Federal Reserve Bank will sponsor a second workshop aimed at preventing foreclosures by bringing borrowers and lenders together to find alternatives. The workshop, scheduled for February 14 at the Connecticut Convention Center in Hartford, is...From the Boston Globe: The...

Monday's News...

January 26, 2009 22:53

There's so much going on in the news that it almost seems silly to repost it here. But I did come across a few items that I wanted to share. In the UK, Debt Collectors are “getting heavy.” A plan...There's so much going on in the news that it almost seems silly to repost it here. But I did come...

Before Foreclosure Rescue Scammers Start Knocking...

January 23, 2009 21:58

I came across an interesting story (and video) over at CNBC.com: Fraud at your Front Door which discusses foreclosure rescue scam artists who are knocking at the front door of homeowners facing foreclosure. I have met clients who have told...I came across an interesting story (and video) over at...

Student Loans: The Financial Shackles of Higher Education

January 20, 2009 23:07

Debtors with student loans have an often insurmountable burden in proving their loans are dischargeable in bankruptcy. Section 523(a)(8) requires them to show that the loans are an undue hardship and an example of how the definition of “undue hardship”...Debtors with student loans have an often...

As the Economy Sinks, Bad Debt Collectors Rise to the Surface

January 16, 2009 17:11

The pace of foreclosures has been slow since there’s a moratorium on Freddie Mac and Fannie Mae mortgages. That however, is not stopping collectors for other consumer debts getting more aggressive. Today’s Boston Herald reports that credit card delinquencies are...The pace of foreclosures has been...

So You Think It's a Good Time to Buy a House?

January 12, 2009 23:25

Contrary to what you may hear in advertisements, 2009 may not be a good time to buy a home unless you are planning on living there for several years. This bit of news is not actually a huge shock for...Contrary to what you may hear in advertisements, 2009 may not be a good time to buy a home unless...

Mortgage Modification Legislation Update: Citigroup Supports the Bill

January 08, 2009 21:48

Big news out of Washington, from the Washington Post: Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers, three Democratic senators said on Thursday. Senators Richard Durbin of...Big news out of Washington,...

Keep the Bankruptcy Option on the Table

January 06, 2009 19:55

The new Congress will be introducing legislation that will allow homeowners in bankruptcy to "cram down" their mortgages on their principal residences. When a home is worth less than the amount owed on the mortgage (or as I typically see,...The new Congress will be introducing legislation that will...